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Financial Management Quarterly Product Release: Q2

This announcement represents a single point in time. Future releases may impact the information below.
Announcement Published: March 10, 2023 | Features Released: Coming in April, 2023


 

Financial Management Quarterly Product Release: Q2

This announcement provides information about updates to Procore's Financial Management tools in Q2 2023. 


 

Learn More

To learn more about the new features for the Q2 2023 update, see below.

Change Events Progress View

 

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Select the new Progress view in Change Events to find bottlenecks, follow up with the right people, and manage change faster. You’ll see how the values for change event line items connect to Revenue-side Change Orders, Cost-side commitments, or Internal Budget Changes (Transfers) required for approval. See Change Events: New Progress View.

  • View the variation tier associated with the change event line item.

  • Quickly and easily identify risk with insights into change event line items.

  • Mitigate financial risk with minimal configuration with the new Procore standard view.

Contracts List View Enhancements & PDF Export

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The contract list pages for the Head Contracts and Commitments tools have been streamlined with improved performance and readability. Improvements have also been made to decrease load times for contract list PDF exports. 

Budget Changes Migration

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budget change moves your budget's funds from a specific cost or revenue area to another cost or revenue area. Users can create budget changes to ensure your team has a method for moving and auditing budget values between the job activities and work packages associated with your construction project. Budget Changes are replacing the existing budget modifications feature.

Customers can migrate from budget modifications to the Budget Changes feature by October 2023. Once you migrate, you will no longer have access to the budget modifications feature. If you have any questions before your company starts the migration, contact your Procore point of contact. See Migrating to Budget Changes from Budget Modifications.

Budget Changes Adjustment Table Enhancements

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The Budget Changes adjustment table has been improved to make it easier to create adjustments and track funds being moved.

A 'To/From' column has been added to the adjustment table to provide increased clarity when creating and viewing Budget Changes. Users will be able to quickly see which budget codes are associated with the Budget Change. See Create Budget Changes.

Sage Intacct® Enhancements

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retention Release on subcontractor progress claims

Users can soon enjoy automatic release of retention on subcontractor progress claims in Sage Intacct® when a subcontractor progress claim is sent over from Procore. When this feature becomes available, visit Sage Intacct® Release Notes for more information.
 

Job Cost transaction syncing

Users can now sync job cost transaction data from the Sage Intacct® General Ledger to Procore's Direct Costs tool. When this feature becomes available, visit Sage Intacct® Release Notes for more information.

Sage 100 Contractor® Enhancements

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Job Cost transaction syncing

Users can now sync job cost transaction data from the Sage Intacct® General Ledger to Procore's Direct Costs tool. When this feature becomes available, visit Sage 100 Contractor® Release Notes for more information.

Acumatica Cloud ERP & MYOB Advanced Construction Enhancements

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HEAD CONTRACT AND HCV SYNCING WITH THE Acumatica Cloud ERP and MYOB Advanced Construction CONNECTORs  

Users can now sync their Head Contracts to Acumatica Cloud ERP and MYOB Advanced Construction as a single, summarised line item in the Revenue Budget tab. Head Contract syncing is automatic and requires no action to initiate once a contract has been created and approved in Procore. When this feature becomes available, visit Acumatica Cloud ERP Release Notes for more information.

Users can now also sync PCCOs from Procore to Acumatica Cloud ERP and MYOB Advanced Construction. When this feature becomes available, visit Acumatica Cloud ERP Release Notes for more information.

 

retention release on subcontractor progress claims 

Users can now automatically release retention on subcontractor progress claims in Acumatica Cloud ERP and MYOB Advanced Construction when exporting a subcontractor progress claim from Procore. When this feature becomes available, visit Acumatica Cloud ERP Release Notes for more information.

Procore + Workday® Connector

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Project Financials + Workday® Connector

Connect your accounting and project cost management platforms to provide your teams access to synchronised real-time financial data.

Keep your data synced with maximum efficiency.

This integration is built on Procore’s ERP Platform, allowing users to manage the flow of data from within Procore for a simplified, consistent and controlled integration process. It will be available to clients in the US and Canada only upon release. Availability is subject to change at a later date. To learn more, see Project Financials + Workday® Connector.

The Workday® connector will only be available to clients in the US and Canada upon release.

Procore + Jobpac™ Connector

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PROJECT FINANCIALS + Jobpac™ CONNECTOR

Connect your accounting and project cost management platforms to provide your teams access to synchronised real-time financial data.

Keep your data synced with maximum efficiency.

This integration is built on Procore’s ERP Platform, allowing users to manage the flow of data from within Procore for a simplified, consistent and controlled integration process. It will be available to clients in the US and Canada only upon release. Availability is subject to change at a later date. To learn more, see Project Financials + Jobpac™ Connector.

The Jobpac™ connector will only be available to clients in APAC upon release.