To update advanced settings for a prime contract using the controls in the Prime Contracts tool's Advanced Settings tab.
If you are a user with 'Admin' permission on the Prime Contracts tool, the steps below show you how to edit advanced settings for the project's prime contract. This includes choosing an accounting method for the Schedule of Values (SOV), enabling financial markup, owner invoice settings, comments settings, and payment settings. In addition to these Advanced Settings, additional contract configuration settings are on the tool's Configure Settings page. See Configure Settings: Prime Contracts.
Things to Consider
- Required User Permission:
- 'Admin' on the project's Prime Contracts tool.
- Additional Information:
- Additional contract configuration settings are on the tool's Configure Settings page. See Configure Settings: Prime Contracts.
- Navigate to the project's Prime Contracts tool.
- Click Advanced Settings.
Note: If your browser window is not in full screen mode, choose More > Advanced Settings.
- Click Edit.
- Under Schedule of Values Settings, set the following:
- Accounting Method. Select Amount Based or Unit/Qty Based. After you create one or more line item, you will not be permitted to modify this setting. See How do I determine my accounting method? for more information on the difference between Amount Based and Unit/Quantity based.
- Under Financial Markup Settings, set the following:
- Enable Financial Markups. Place a checkmark in this box to enable financial markup on Prime Contract Change Orders only. For more information, see Add Financial Markup to Prime Contract Change Orders.
- Under Owner Invoice Settings, set the following:
- Enable Owner Invoices. Place a checkmark in this box to enable owner invoices on the prime contract.
- Enable Completed Work Retainage. Place a checkmark in this box to enable work completed work retainage on Prime Contract Change Orders.
- Enable Stored Material Retainage. Place a checkmark in this box to enable stored material retainage on Prime Contract Change Orders
- Level of Detail to Display on Change Orders. The level of detail that is selected here determines how change orders will be displayed on the detail page of the Owner Invoice when being viewed or printed from Procore. See What are the different change order tiers?. The entry and editing of this information will always occur at the line item level of detail. Select one of the following:
- Prime Contract Change Order
- Potential Change Order
- Line items in each Potential Change Order
- Change Order Requests
- Show Markup on Invoice PDF and CSV. Place a checkmark in this box to show financial markup on the Detail tab's Export > PDF or Export > CSV for the Owner Invoices. For the CSV option, markup line items will be included at the bottom of the CSV file.
- Approve Subcontractor Invoices when Owner Approves Owner Invoices. Place a checkmark in this box so that once an owner approves an owner invoice, the subcontractor invoice is also approved. This functionality will only be enabled if owner invoices are prefilled with invoices. To learn how owner invoices are prefilled, see Create an Owner Invoice.
- Show Cost Code on PDF. Place a checkmark in this box to show cost codes on PDF of Owner Invoices for the Summary and Detail tab (there is no cost code column in the Configurable PDF tab, but cost codes will show in headers if grouped by cost code).
- Under Payment Settings, set the following:
- Enable Comments. Place a checkmark in this box to see a Comments subtab where users with 'Admin' permissions can leave comments.
- Enable Payments. Place a checkmark in this box to enable payments on the prime contract.
- Click Save.