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Add Line Items to a Schedule of Values (SOV) on a Prime Contract

Objective

To add line items to a Schedule of Values (SOV) on a prime contract.

Background

An SOV is an itemized list of all the work items on a project. Each line item shows the work item's cost.

Things to Consider

Prerequisites

 

Steps

  1. Navigate to the project's Prime Contracts tool.
  2. Locate the prime contract to update. Then click Edit.
  3. Click the Schedule of Values tab.
  4. Click Add Line.
  5. Complete the data entry as follows:
    1. Budget Code
      Select a budget code or click Create Budget Code. See What is a budget code?
    2. Description
      Enter a description for the line item. For example, type: Monthly Service Fee
    3. Qty
      Enter the number of units.
    4. UOM
      Select the Unit of Measure (UOM) from the list. See Which units of measure (UOM) are included on Procore's master list? and Add a Unit of Measure to the Unit of Measure Master List.
    5. Unit Cost
      Enter the Unit Cost in this box. You'll notice that the value in this column contains four (4) decimal points (for example, $0.0000) to allow you to enter the specific value required to calculate accurate pricing. 
      Example
      If you are buying 50,000 units for $1,006,625.00, you would enter a unit price of $20.1325. 
    6. Amount
      The system automatically calculates the subtotal for you, based on the QtyUOM, and Unit Cost entries. 
  6. Repeat the above steps for all line items.
  7. Choose one of these options:
    • Click Save
      OR
    • Click Save & Email.  

 

If you would like to learn more about Procore’s prime contract software and how it can help your business, please visit our construction contract management software product page here.