A cost type is a set of uniquely identified costs represented by an abbreviation and label. In Procore, several cost types are are defined for use by default: L=Labor, E=Equipment, M=Materials, C=Commitment, OC=Owner Cost, SVC=Professional Services, and O=Other.
In Procore, cost types are a way to identify and classify your project's job costs. They can also be used to generate reports. See View Job Cost Summary Report. In addition, you can:
- Define and customise an unlimited number of additional cost types. See Set Default Cost Types.
- Assign those cost types to your project's cost codes. See Assign Default Cost Types To Cost Codes.
In the construction industry, grouping individual cost codes into one or more cost types is a common practice for subcontractors and other construction businesses whose expenses are primarily internal (e.g., L=Labour or DE=Direct Expenses). For general contractors, who might need to track a large number of subcontractors, it may be less common to group codes into cost types.
InfoIf your company has enabled the ERP Integrations tool, not all integrated ERP systems support the 'cost type' concept and some systems use an alternate term to refer to 'cost type.' For details, see What are 'cost types' and how does our ERP integration support them?
Default Cost Type List
The following table details the default cost types in Procore.
If your company is using the ERP Integrations tool, review the links below to learn more about cost types:
- What are 'cost types' and how does our ERP integration support them?
- How do I add a new Sage 300 CRE® cost code or cost type?
- Can I delete a Sage 300 CRE® cost code, cost type or vendor from Procore?
- Integration by Procore: Request to Import Custom Cost Types for Viewpoint® Spectrum®
- Integration by Ryvit: Assign Default Cost Types To Viewpoint® Vista™ Cost Codes