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(Beta) Configure a Main Contract's Advanced Settings

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 In Beta
This content is for participants in the Project Financials: Modernised Experience for Main Contracts beta program. 

Objective

To update advanced settings for a main contract using the controls in the Main Contracts tool's Advanced Settings tab.

Background

If you are a user with 'Admin' level permissions on the Main Contracts tool, the steps below show you how to edit advanced settings for the project's main contract. This includes choosing an accounting method for the Bill of Quantities (BOQ), enabling financial markup, owner payment application settings, comments settings and payment settings. In addition to these Advanced Settings, additional contract configuration settings are on the tool's Configure Settings page. See Configure Settings: Main Contracts.

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the project's Main Contracts tool.
  • Additional Information:

Prerequisites

Steps

Edit the Advanced Settings

  1. Navigate to the project's Main Contracts tool. 
  2. Locate the main contract to work with. Then click its Number link. 
  3. Click the Edit Advanced Settings button. 
    prime-contract-edit-advanced-settings.png
  4. Choose from these options:

Turn Financial Markup ON and OFF on a Contract

You can turn the Financials Markups tab ON and OFF on an individual main contract. Procore's default setting is ON. To learn how to use this feature, see Add Financial Markup to Main Contract Variations.

prime-contract-enable-financial-markup.png

Under the 'Financial Markup' section, do the following:

  • To turn the Financials Markup tab ON, place a tick in the Enable Financials Markup box. 
    OR
  • To turn the Financials Markup tab OFF, remove the tick from the Enable Financials Markup box. 

If this is the only setting you want to change, click Save. Otherwise, continue with the next step.

Set Up Main Contract Payment Applications on a Contract

If you are planning to generate payment applications to send to a project's owner or a client for the work your team performs, you use the controls in this section to set up the owner payment application feature for a main contract. 

  1. Scroll to the 'Main Contract Payment Applications' section. 
  2. Choose to enable or disable the following options:
    prime-contract-owner-invoices.png
    • Enable Main Contract Payment Applications. To turn the owner payment application feature ON for this contract, place a tick in this box. ON is the default setting. To turn this feature OFF, remove the tick. 
    • Enable Completed Work Retention. To turn the completed work retention feature on, place a tick in this box. ON is the default setting. To turn this feature OFF, remove the tick. 
    • Enable Stored Material Retention. To turn the stored material retention feature on, place a tick in this box. ON is the default setting. To turn this feature OFF, remove the tick. 
    • Level of Detail to Display Variations. This setting determines how Procore displays variations in the 'Detail' tab of the main contract. Your options include:
      • Line items in each Potential Variation. This is the default setting. This setting lists all of the line items for all potential variations related to the main contract. 
      • Main Contract Variation. This selection lists only the variations related to the main contract. 
      • Potential Variation. This selection lists only the potential variations related to the main contract. 
    • Approve Subcontractor Payment applications when Owner Approves Main Contract Payment Applications. Place a tick in this box so that once an owner approves an owner payment application, the subcontractor payment application is also approved. This function is only enabled when you choose to pre-fill your main contract payment applications with data from your project's subcontractor payment applications. To learn more about pre-filling payment applications, see Create Main Contract Payment Applications.
    • Show Cost Code on PDF. Place a tick in this box to show cost codes on the PDF. There is no cost code column in the Configurable PDF tab, but cost codes will show in headers if grouped by cost code.

If these are the only settings you want to change, click Save. Otherwise, continue with the next step. 

Turn Payments Received ON and OFF on a Contract

You can turn the Payments Received tab ON and OFF on an individual main contract. Procore's default setting in ON. To learn how to use this feature, see Add Financial Markup to Main Contract Variations.

  1. Scroll to the 'Payments Received' section. 
  2. Choose from these options:
    • To turn the 'Payments Received' tab ON, place a tick in the Enable Payments box. ON is the default setting. 
      ON
    • To turn the 'Payments Received' tab OFF, place a tick in the Enable Payments box. 

If these are the only settings you want to change, click Save. 

Set the Accounting Method on a Main Contract

Before users start adding line items to a main contract, you can choose the accounting method that to use. The accounting method cannot be changed after line items are created. 

  1. Scroll to the 'Bill of Quantities' section.
  2. Choose the accounting method for the contract:

    prime-contract-accounting-method.png
    • Amount Based
      Choose this method to enter a lump sum amount for a line item on a Bill of Quantities. Amount Based is Procore's default setting for contracts.
    • Unit/Quantity Based
      Choose this method when ordering materials in quantity. With this method, users enter a quantity and unit price for the line item on the Bill of Quantities and Procore automatically calculates the total for the line item for you.
  3. Click Save.