Cost code
A code that defines the specific type of work being completed on a construction project.
A cost code is a numerical identifier used to categorize and track project expenses. It facilitates detailed financial reporting and analysis, helping to identify cost trends and manage budgets effectively.
Used in a sentence
Use the correct cost code to ensure expenses are accurately tracked and reported.
Stay updated on what’s happening in construction.
Subscribe to Blueprint, Procore’s free construction newsletter, to get content from industry experts delivered straight to your inbox.
Learn MoreLearn more about Cost code
Construction Accounting Software: Key Features and What To Look For
Commercial contractors manage large and complicated budgets that can have slow payment rates and volatile costs. They also have to accurately allocate job costs based on specific factors such as project, phase, or cost codes. Compliance requirements add another layer of complexity to construction budgets, since contractors have to track measures such as prevailing wages […]
Construction Collaboration: Navigating the Intersection of Project Management and Accounting
Accounting and project teams work together to move the financial aspects of projects through to completion. Data sharing allows for concurrent review to make this possible. Teams need to share budgeting, cost tracking, project billing and payables, and compliance data. These numbers are also relevant to company-wide accounting and company executives, but this article will […]
What are Committed Costs in Construction Accounting?
In construction projects, managing finances can be a challenging task — but understanding committed costs can simplify the process. Committed costs refer to expenses that are guaranteed through formal agreements, such as contracts with subcontractors and vendors. Recognizing these costs early can help create a more accurate budget and avoid financial surprises. This article will […]
Understanding Construction Financial Statements
For construction firms, effectively managing financial statements is an important building block for success. These documents play a key role in tracking performance, maintaining financial health and securing future projects. Well-organized financial statements give a clear picture of a firm’s assets, liabilities and equity at any time, offering essential insights. They help meet regulatory requirements, […]
How can we improve this glossary entry?
By clicking this button, you agree to our Privacy Notice and Terms of Service.