Direct Costs
Beta
This content is for participants in the Project Financials: Company Direct Costs beta program.
Accounting and project teams use the Direct Cost tab to review and approve invoices. This centralized view allows teams to manage costs across all projects and sync them directly with an ERP or accounting system.
Key features include:
Data Entry. Ensure that direct cost line items are associated with the correct budget codes.
Approval. Review and approve invoices, or send them back to revise and resubmit.
ERP Integration. Send approved costs directly to your company's accounting software.
The screen contains the following elements:
Element | Type | Description |
|---|---|---|
Upload | Button | Click the Upload button to add new documents or files. You must have the admin or granular permissions to upload. |
Search | Field | Enter a word or phrase in the Search box and press ENTER on your keyboard or click the icon. |
Filters | icon | Click the Filter icon and select one of the following options: Approval Status Payment Status Received Date Vendor |
Configure | Icon | Click the Configure columns to customize the column display for the Company-level Direct Costs tool. |
Approval Status | Drop-down list | Select the Approval Status from the drop-down list to update or filter the item accordingly. This list populates with approval status from the company's direct cost record |
Vendor | Drop-down list | Select a Vendor from a list of available options. If the list is extensive, use the search functionality to quickly find the desired vendor. |
Review | Button | Click the Review button opens a detailed view of the cost and enables editing. |
Return to Uploads | Button | Click the Return to Uploads button to move a direct cost entry back to the Uploads tab for re-uploading or restarting data entry. |
Send to ERP | Button | Click the Send to ERP button to transfer a fully reviewed and approved direct cost to the company's accounting or ERP system, preparing the invoice for payment. |
Mark as Paid | Button | Click the Mark as Paid button to manually update the status of an approved direct cost to 'Paid' in Procore, reflecting payment made in the accounting system. |
This table details the default columns.
Column | Description |
|---|---|
Vendor Direct Cost Number | The unique identifier assigned by the vendor for the direct cost. |
Vendor | Displays a list of vendors associated with your company |
Project | The project is associated with the direct cost. |
Billed Amount | The total amount billed by the vendor. |
Line Item Total | The sum of all line items within the direct cost. |
Approval Status | The current stage of the direct cost in the approval workflow. |
ERP Status | This column indicates the synchronization status between Procore and the external ERP system, showing whether data is synced, pending, or has encountered an error. |
Billing Period | Defines the time frame for which invoices are generated, helping organize financial data. |
Invoice Date | The date when an invoice is issued, used to track when a financial obligation was formally recognized. |
Accounting Date | This date records when a financial transaction is recognized in the accounting system, reflecting the actual date of financial impact. |
Received Date | This date indicates when goods or services were received, verifying that billed items were delivered or completed. |
Payment Due Date | This date specifies when payment for an invoice is due, aiding in managing cash flow and ensuring timely payments. |
Payment Status | The current status of the payment shows whether an invoice has been paid, is pending, or overdue, essential for tracking outstanding liabilities. |
Paid Date | The date when payment was made for an invoice, confirming that the financial obligation has been settled. |
Grand Total | The grand total represents the total amount due on an invoice, including all applicable taxes and fees, providing a comprehensive view of the financial obligation. |