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Procore

Set Default Cost Types

Objective

To create a default list of cost types. 

Background

If your company's accounting team performs job costing, you can create a list of default cost types that can then be applied to line items in your Project level Financial tools (i.e., Budget, Change Events, Commitments, Direct Costs, Prime Contract). 

EXAMPLE
If your company's job costing system is activity-based, you might create cost types named Direct Material (DM), Direct Labor (DL), and Overhead (OH). 

Things to Consider

  • Required User Permission:
    • 'Admin' level permission on the company's Admin tool. 
  • Supported Procore Tools:
    The cost types you create using the Steps below are available as selections in the following tools:  
    • Budget. When you create a budget line item, you can select a cost type from the 'Category' drop-down list. See Create a Budget Line Item
    • Change Events. When you create a Commitment Change Order (CCO) from a change event, you can select a cost type from the 'Type' list. See "Create a CCO from a Change Event" in the See Also section below.
    • Commitments. When creating a commitment (see Create a Commitment), you can select a cost type from the 'Type' list when adding a budget line item (see "Create a Purchase Order" in the See Also section below) or when adding a line item (see "Create a Subcontract" in the See Also section below). 
    • Direct Costs. You can select a cost type when adding a line item to a direct cost. See "Create a Direct Cost" in the See Also section below. 
    • Prime Contract. You can select a cost type when adding a line item to a Schedule of Values from the Budget. See "Create Schedule of Values (SOV) from the Budget" in the See Also section below.
  • If your company has enabled the ERP Integrations tool:

Steps

  1. Navigate to the company's Admin tool. 
    This reveals the Company Settings page. 
  2. Under Project Settings, click Cost Types.
    Note: The Cost Types link is only visible when your company has enabled one of Procore's Financial tools (e.g., Budget, Change Events, Commitments, Direct Costs, and Prime Contract).
    The 'Procore Cost Types' page appears.
    Note: If your company has enabled the ERP Integrations tool (see Request to Enable the ERP Integrations Tool), the page title is different and you'll have additional options available. See I What are Standard Categories in the Cost Types Configuration page? and "ERP Integrations" in the See Also section below.

    cost types.jpg
  3. In the 'Procore Cost Types' list, choose from these options:
    • Add a New Cost Type
      1. Enter the name for the new cost type in the Add a Cost Type box. 
      2. Enter an abbreviation for the new cost type in the Add Abbreviation box.
      3. Click Add.
    • Rename an Existing Cost Type
      Note:  A blue caret in the top-right corner of a cell indicates that the field can be edited.
      1. In the Label cell, type over any existing value.
      2. In the Abbreviation cell, type over the existing value. 
Commitment Settings
  • Lock Schedule of Values and Contract Company when commitment contract is approved or completed: Mark this box if you want commitment's with the status of 'Approved' or 'Completed' to disallow users from editing the Schedule of Values subtab. 
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