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What is Project Cost Reporting in Portfolio Financials?

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 Note
The information in this FAQ applies to Procore accounts with the Portfolio Financials product. Reach out to your Procore point of contact for more information. 

Answer

Project Cost Reporting is a feature on the Project Page that allows for more robust and flexible reporting that incorporates all elements of the cost of a project. See Configure and Export a Project Cost Report in Portfolio Financials. This information is available at various levels of detail and includes all financial data points, such as allocations and accounting codes, that exist in the system. 

With Project Cost Reporting, you can more quickly and easily analyse and export financial data from Portfolio Financials. This feature also provides improved access to financial data for creating Project level reports and expanded flexibility in how data is organised. Additional features include being able to compare multiple budget versions alongside project cost data, pivot by accounting code and report on the Cost Item of Programme of Value level of detail. 
Note: Project Cost Reporting is not meant to replace the Cost Tracker, but it allows for reporting outside of the Cost Tracker.

Project Level Financial Data Available for Project Cost Reporting:
  • General
    • Accounting Codes (all components)
  • Costs
    • All data in Cost Tracker
    • All data in Cost Tracker export
    • Ability to view 'BOQ-level' of detail on the Cost Tracker export
    • All prior forecasts from snapshots taken of the development Cost Tracker
    • Exposures
    • Pending Contracts
    • Posted Payment applications
    • Paid Payment applications
    • Journal Entries (if MRI integration is enabled)
  • Budgets
    • Current budget and all prior budget revisions (enables ability to show multiple budget revisions alongside project cost data on the Cost Tracker)
    • ERP system budgets (if ERP integration is enabled)
    • Allocations
    • Budget variance calculations
      • Current - Original
      • Current - Prior
Columns available for Grouping in Project Cost Reporting:
  • Item
  • Cost Item
  • Item Type
  • Section
  • Allocation Component
  • Vendor Name
  • Accounting Codes (all 8 components)
 Note
  • When you apply a grouping to the Project Cost Reports, the sums of each grouping are automatically displayed.
  • Calculated columns are not supported in the Project Cost Report.