Sage Intacct Construction – Standard Cost Code and Cost Type Catalogs #MakeYourForemanHappy
Sage Intacct Construction – Standard Cost Code and Cost Type Catalogs
As we set up Sage Intacct Construction for our clients, we recommend setting up your Standard Cost Code and Cost Type Catalogs. This is usually done at the top level so they can be used in all entities and done early in the configuration of your Job Cost / Project implementation.
We recommend setting up your Standard Cost Type Catalog first since you can assign the Cost Types to your Standard Cost Codes. Cost Types are usually the accumulation of the costs of materials, labor, overhead, subcontract, and other costs. However, they can be broken out further based on your requirements as shown below.
Cost Type Tips:
- When setting up your Cost Types, we recommend you associate each type with a GL Account Number and Non-Inventory Item. This makes sure your GL Postings and Dimension Postings are correct and consistent. Remember that Cost Codes and Cost Types also post against their own Dimensions for each transaction in the General Ledger.
- You can override the Cost Type information for a specific Job and Cost Code / Task.
- You can only add Cost Types to a project task from the standard cost type catalog.
- When importing tasks with an associated Cost Type, make sure the Cost Type exists in the Standard Cost Type Catalog or it will fail.
- Once you import the Standard Cost Types, you cannot re-import them again. Also, once a Cost Type is used, you cannot delete it. This is why setting this up in your implementation environment first is so important.
Now that you have your Cost Types in Sage Intacct, it is time to bring in your Cost Codes or Project Tasks.
- Unlike Cost Types, Cost Codes do not need to exist in the Standard Cost Code Catalog to be used, but for consistency, we recommend you set them up. This is especially helpful for integrations such as Procore. The Cost Codes post to your GL Dimensions so consistency is important for reporting.
- When you set up the Standard Cost Codes, don’t forget to associate all the different Cost Types that Cost Code can use.
- If you use a Standard Cost Code, you can override the values when you bring it into a Job.
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