Overview

For Specialty Contractors This user guide provides specialty contractors with information about how to use Procore's Project Financials tools to streamline your financial business processes across your project's lifecycle. Some of the things you'll learn in this guide include:

  • How to set up your budget code structure. Learn the basics for setting up a company and/or project budget code structure using Procore's Work Breakdown Structure feature. See Budget Code Setup.

  • How to add or import an accurate project budget. Learn how to add budget line items to your project, configure and assign budget views to your project, and how to set up a forecasting view to identify and track critical project costs. Use data collected from the field to track your project's labor costs and to log production quantities in your budget. Learn how to create budget changes to reallocate funds from one budget line item to another. See Budget Setup.

  • How to create one or more client contract(s) for your project. Set up your contract tool and learn about the considerations to keep in mind if your project has multiple funding sources or delivery methods. Manage the GC/Client invoice process and create a payment received log. See Client Contracts tool.

  • How to manage your project's commitment contracts. Learn about the Commitments tool's configuration settings and how to create commitments for your downstream collaborators. Designate invoice contacts to submit invoices against those commitments and create a payments issued log. See Commitments.

  • How to improve oversight and management project changes. Choose between managing change orders with or without the Change Events tool. Configure your change order tier settings for your contracts. Bring change management to the field––facilitating faster approvals, more accurate communication, and eliminating the need to proceed at risk. See Change Management Tools.

  • How to administer the progress billings for your project's subcontractors. Define your billing periods and choose your project's desired method for creating and submitting progress billings. See Progress Billings.

  • How to manage your project's direct costs. Learn how to manage costs not associated with your purchase orders and commitments. See Direct Cost.

Budget Code Setup