Add a Cost Code to the Cost Worksheet

Contents

Use cost codes to break down costs in the Cost Worksheet. If you already use cost codes that are 30 or fewer characters long to categorize costs, you can continue using them with Contract Management.

Cost codes are like categories in a checkbook. For example, if your mortgage payment is $1,000 a month, $700 may apply to interest and $300 to principal. When you record the $1,000 payment in your check register, you might distribute it to principal and interest categories for income-tax reporting purposes.

Similarly, you may have a contract for $50,000, of which $25,000 is for rough carpentry and $25,000 is for finish carpentry. To track each carpentry cost separately in the Cost Worksheet, you might create two cost codes, Rough and Finish, and distribute $25,000 to each.

To add a cost code to the Cost Worksheet:

1. Expand Contract Information in the Project View and click Cost Worksheet to open the Cost Worksheet Log Window.
2. Click Add Document  to open the Cost Worksheet Dialog Box (for Adding a Cost Code).
3. Enter the cost code.
4. Enter a title.
5. If you want to manually sort the order of cost codes in the Cost Worksheet Log Window, enter an order code corresponding to the desired location in the list.
6. If there is a specific amount of money planned for this cost code, enter the amount in the Planned to Commit ($) field.
7. Enter a description.
8. Click Save and Close to add the cost code to the Cost Worksheet.

   Note: You can create cost codes up to 30 characters; they can consist of any combination of letters, numbers, and special characters. You cannot add a cost code named Not Costed.

Tips

To delete a cost code from the Cost Worksheet, select the cost code, and then choose Delete Cost Code from the Select an action drop-down list.