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Procore (en-GB)

Portfolio Financials: Project Cost Reporting

This announcement represents a single point in time. Future releases may impact the information below.
Feature Announced: March 4, 2020  /  Feature Released: March 12, 2020


 Note
This feature applies to accounts with Procore's Portfolio Financials product. Please reach out to your Procore point of contact for more information. 

Expanded Reporting Capabilities for Portfolio Financials

Procore has developed a new feature, Project Cost Reporting, which allows for more robust and flexible reporting that incorporates all elements of the cost of a project. 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 analyze 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 organized.

In addition, Project Cost Reporting allows for the following actions that were not previously available:

  • Compare multiple budget versions alongside project cost data
  • Pivot by accounting code
  • Report on and export the cost item or SOV level of detail

Details

  • All project level financial data is now available for reporting:
    • General
      • Accounting Codes (all components)

    • Costs
      • All data in Cost Tracker

      • All data in Cost Tracker export
      • Ability to view 'SOV-level' of detail on the Cost Tracker export.

      • All prior forecasts from snapshots taken of the development Cost Tracker

      • Exposures

      • Pending Contracts

      • Posted Invoices
      • Paid Invoices

      • 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

  • New columns are available for grouping:
    • Accounting Codes (all 8 components) 
      • Enables the ability to pivot reports on accounting codes
    • Item (Cost Item Detail)
    • Cost Item
    • Item Type
    • Section
    • Allocation Component
    • Vendor
  • Additional information:
    • 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.

Note: This feature does not replace the Cost Tracker. However, this feature allows for reporting to not have to rely on the Cost Tracker.

 

If you would like to ask questions or share any feedback, please contact support-owners@procore.com.