To assign a 'cost type' to a standard cost code from an integrated ERP system.
In the construction industry, cost types are often assigned to cost codes to identify the specific work being performed on a construction project. To help project teams better account for their costs (especially their internal costs), it is a common practice to assign multiple cost types to a single cost code.
To understand the relationship between these two objects, keep in mind:
A Cost Code is a code that defines the specific type of work being completed on a construction project. When using an integrated ERP system with Procore, cost codes are synced to individual segment items (a.k.a., 'cost codes' on Procore's 'Cost Code' segment, which is a tiered segment. To learn more, see What are Procore's default cost codes?
Using an example cost code from the CSI MasterFormat: