FAQ: Company Cost Codes

Why should I use Cost Codes in ConstructionOnline?

With ConstructionOnline's Cost Code System, construction companies can build customized Cost Code Lists to categorize construction costs into specific divisions—improving visibility for division costs and simplifying project data across all features in ConstructionOnline. By assigning cost codes system-wide, companies can tie the different ConstructionOnline features they use together based on the type of work being completed, resulting in more organized construction cost data across all facets of project management and better reporting capabilities.

So, for example, let's say during your initial project setup you choose to use the Construction Specifications Institute's (CSI) Cost Code list and select Division 3 - Concrete for your concrete work. During the estimating phase of your project, you assign the 3-50 - Concrete Subcontractor Code to the labor costs related to concrete-related item such as the project's foundation, slabs, and wall. Then, when creating your project schedule, you assign the 3-50 - Concrete Subcontractor Code to any tasks or milestones tied to your concrete subcontractor's labor. Any additional change orders, to dos, daily logs, punch list items, etc. related to your concrete sub's labor are also assigned the 3-50 - Concrete Subcontractor Code.

By consistently implementing these Cost Codes across your ConstructionOnline Project, you and your team members ensure that every project expense related to your concrete work is meticulously identified, recorded, and monitored in real time. In addition to this, the use of Cost Codes establishes an organized foundation for company reporting and opens up multiple unique reporting options in ConstructionOnline that promote transparency, accuracy, and efficiency in your financial management, enable better control over your project costs, support better decision-making, and enhance the overall success of your projects. 

🚧 For accounting integrations with QuickBooks, please keep in mind Cost Codes are not part of the data that transfers over. These integrations key off the "Name" column of your Estimate, not the assigned Cost Code. For more information on ConstructionOnline's accounting integration with QuickBooks Desktop, visit this FAQ article. For more information on ConstructionOnline's accounting integration with QuickBooks Online, visit this FAQ article.

Click here for more frequently asked questions (FAQs) regarding Cost Codes.