Overview
When managing a prime contract on a Procore project, Prime Contract Change Orders (PCCOs) are typically used to adjust the scope of work, manage changes in costs, and for other modifications to the contract conditions. However, not all financial adjustments require the use of a PCCO.
On many prominent contract types, most notably Guaranteed Maximum Price (GMP) contracts, a General Contractor often controls the project's contingency or allowance funds and only needs to inform the project's Owner as to how those funds are used. For this scenario, the use of those funds can be reflected on an owner invoice using the features for 'Budget Changes on Owner Invoices.'
These features let the user select which budget changes to add to the most recent owner invoice on a prime contract. The invoice is updated to group budget change line items, so users can quickly find and update the lines with billable amounts.