Set Default Cost Types

Objective

To create a default list of cost types. 

Background

If your company's accounting team performs job costing, you can create a list of default cost types that can then be applied to line items in your Project level Financial Management tools. 

Things to Consider

• Required User Permissions:
  • 'Admin' on the company's Admin tool. 
• Additional Information:
  • If you want to delete a custom cost type that was created, you will need to reach out to Procore support at support@procore.com.
    Note: Any line items associated with a deleted cost type will be reclassified as 'Other'.
• Supported Procore Tools:
  The default cost types you create are available as selections in the following tools:  
  • Budget. When you create a budget line item, you can select a cost type from the 'Category' drop-down list. See Create a Budget Line Item. 
  • Change Events. When you create a Commitment Variation (CV) from a change event, you can select a cost type from the 'Type' list. See Create a CV from a Change Event.
  • Commitments. When creating a commitment (see Create a Commitment), you can select a cost type from the 'Type' list when adding a budget line item (see Create a Purchase Order) or when adding a line item (see Create a Subcontract). 
  • Direct Costs. You can select a cost type when adding a line item to a direct cost. See Create a Direct Cost. 
  • Head Contract. You can select a cost type when adding a line item to a Program of Values from the Budget. See Create Program of Values (SOV) from the Budget.
• If your company has enabled the ERP Integrations tool:
  • Dexter + Chaney Spectrum: Cost types are set up during the integration. See Request to Import Custom Cost Types for Spectrum.

Steps

1. Navigate to the company's Admin tool. 
2. Under 'Company Settings', click Cost Types.
   Note: The Cost Types link is only visible when your company has enabled one of Procore's Financial tools (e.g., Budget, Change Events, Commitments, Direct Costs and Head Contract).
   Note: If your company has enabled the ERP Integrations tool (see Request to Enable the ERP Integrations Tool), the page title will be different and include additional options. See What are Standard Categories in the Cost Types Configuration page? and ERP Integrations.
   
3. In the 'Cost Types' list, choose from these options:
   • Add a New Cost Type
     Note: If you want to delete a custom cost type that was added, you will need to reach out to Procore support at support@procore.com. Additionally, any line items associated with a deleted cost type will be reclassified as "Other".
     1. Enter the name for the new cost type in the Add a Cost Type box in the 'Label' column. 
     2. Enter an abbreviation for the new cost type in the Add Abbreviation box in the 'Abbrevation' column.
     3. Click Add.

         Note

        When adding a cost type, you can only modify the values in the 'Label' and 'Abbreviations' columns. You cannot edit the values in the 'Default Cost Types' column.  
   • Rename an Existing Cost Type
     Note:  A blue caret in the top-right corner of a cell indicates that the field can be edited.
     1. In the Label cell, type over any existing value.
     2. In the Abbreviation cell, type over the existing value. 

See Also

• What are Standard Categories in the Cost Types Configuration page?
• Create a CV from a Change Event
• Create a Purchase Order
• Create a Subcontract
• Create a Direct Cost
• Create Program of Values (SOV) from the Budget
• ERP Integrations