A Cost Type is a set of costs identified by a unique abbreviation or label. Examples include L=Labour, 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. When managing your cost types list in Procore:
- Your company's Procore Administrator can add an unlimited number of new cost types and change the abbreviations and labels used for Procore's default cost types. See Set Default Cost Types.
- If your company is using the ERP Integrations tool, you can also assign your company's cost types to 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 (for example, 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.
NoteIf your company is using the ERP Integrations tool, not all integrated ERP systems support the 'cost type' concept. 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. Your company's Procore Administrator can either add new cost types to this list or edit the existing values in the 'Abbreviation' and 'Label' columns to better fit the terminology used in your environment.
|Abbreviation||Label||Default Cost Types 1|
|OC||Owner Cost||Owner Cost|
|SVC||Professional Services||Professional Services|
1 The values in the 'Default Cost Types' column cannot be edited 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