Add Financial Markup to Funding Change Orders

To learn about markup, see What is the difference between horizontal and vertical financial markup?

• Required User Permissions:

  • To add financial markup, 'Admin' level permissions on the project's Funding tool.

  • To view financial markup on the change order's Schedule of Values (SOV), 'Standard' level permission on the project's Change Orders and Funding tools.

• Additional Information:

  • If you do NOT map the financial markup to a specific budget code, it appears in the budget as an unbudgeted line item.

• For companies using the ERP Integrations tool: Show/Hide

  • Some ERP integrations do NOT support the sync of horizontal markups, vertical markups, or both. See Things to Know About your ERP Integration for details.

• Add the Budget Tool to the Project Tools menu. See Add and Remove Project Tools.

• Enable the Sub Job feature. See Enable Sub Jobs on Projects for WBS.

• Add sub jobs to the project. See Add 'Sub Job' Segment Items to a Procore Project.

• Use the Advanced Settings tab on a funding to enable the Financial Markup tab.

1. Navigate to the project's Funding tool.

2. Locate the funding to work with. Then click its Number link.

3. Click Financial Markup.

    Note

   This tab is only available if it has been enabled in the funding's Advanced Settings tab. See Enable Financial Markup on a Funding.

4. Choose from these options:

   • Add Horizontal Markup. Click this button to display the markup in the same row as the line items.

   • Add Vertical Markup. Click this button to display the markup below the line items.

      Notes

     • To learn about the differences between markup types, see What is the difference between horizontal and vertical financial markup?

     • You can apply financial markup settings on a per-change order basis.

     This opens a page where you can then create your markup.

5. Enter information in the Markup List as follows:

   • Markup Name. Enter a name for the financial markup.

   • Markup Percentage. Enter the percentage for the markup.

   • Compounds Markup Above. Move the toggle to the right to compound your new markup. This setting is turned OFF by default.
     

6. Under Maps To, do the following:

   • Budget Code. Select the budget code that the markup percentage will be applied to. To learn more, see What is a budget code in Procore's WBS?

   • Applies To. Choose the cost types that the markup percentage will be applied to. By default, Procore lists all of your existing cost types, so you can click the X on each cost type object to remove it. See What are Procore's default cost types? and Add Company Cost Types. If you want to remove one or more cost types, click the 'x' next to the desired selections.

7. For companies using the ERP Integrations tool:

   • ERP Funding Item. Select the desired Schedule of Values (SOV) line item from the project’s funding. This ensures that the estimated value (the SOV value without vertical markup) and the revenue value (the SOV value with vertical markup) are synced to the line item that you specify in the integrated ERP system.

      Notes

     The above field is only visible when:

     • Your company account has enabled the ERP Integrations tool.

     • The ERP Integrations tool is configured to use either the Integration by Procore or Sage 300 CRE®.

     • You are creating vertical markup on a funding change order.

   • Export Markup to Estimate. Select this checkbox to enable the ability to sync financial markup on a funding to the cost estimate in ERP. This checkbox is only available to customers with the Sage 300 CRE® integration, Viewpoint® Spectrum® with Viewpoint® Spectrum®, or Integration by Procore with Vista® .

8. Click Save.