Material cost

The 'Material Cost' interface lets you update entries of the payments made to vendors, like material suppliers, sellers, etc., at different periods for the materials procured from them for various tasks. You can enter the amount every time you make a payment to a vendor, with the details like the task, vendor name, and the material purchased; also, upload attachments like a PDF file of the invoice or the receipt. The system decrements the amount paid every time from the total material budget for the task and shows the remaining amount per your estimate. This helps you monitor the variance of the actual expenses from the estimated material cost and plan the future costs to complete the tasks within the budget. The details are used for various statistics and key performance indicators displayed on the dashboards.

The 'Material Cost' Interface

• Open the project management console of the project
• Click the app launcher icon in the top-right and select "Finance" from the drop-down
• Click 'Cost' on the top and 'Material' on the left

The material cost interface shows a chronological list of payments you made for materials procured for various tasks.

• Invoice Date - The date of the payment.
• Task Code - The cost code of the task item for which the material payment was made.
• Task Name - The label of the task as in the contractor schedule.
• Division Code  – The standardized numerical code of the discipline of work as per the CSI MasterFormat. Applicable only if your company's cost codes are inherited from the CSI MasterFormat.
• Division Name – The descriptive name of the discipline of work.
• Vendor - The supplier, seller, or vendor to whom the payment was made.
• Planned($) -  The total estimated material cost for the task item.
• Actual($) - The amount of money paid to the vendor in that instance.
• Remaining - The amount remaining under the head 'Materials' in the estimate of that task.
• Attachment - Supporting documents like the PDF version of the invoice, bill, or receipt, images of the material, etc. Click on the icon to view and download attachments.

Search and filter options:
Use the 'Search' box located at the top left to find any project using any value from the table as search criteria 
Right-click the column header and customize the display and order of the columns as you wish 
The options at the top right allow you to filter the entries, and manage personalized and customized views of the table. Use the links below to learn more about these:
Customize Columns in List Views
Filter Options in List Views
Manage Custom List Views				
View Groups and Subtotals
You can get totals and subtotals of numerical data for any selected set of records by grouping and applying nested grouping. Use the  icon at the top right to organize the data by column headers.
The system automatically aggregates relevant numerical values, giving a structured breakdown and a clear view of the grand total distribution. See Group and Organize Items in a List View for more details
Download as Excel Sheet
Click the button at the top right to save a local copy of the list in Excel format for sharing and record-keeping. See Download List Views and Logs in Excel Format for more details.

Add a material cost entry

• Navigate to the 'Material' cost interface
• Click on the top right

The 'Add Materials' interface shows the list of tasks and subtasks and their estimates.

• Click thebutton in the row of the task to add a payment made for its material

• Enter the details of the payment made: 
  • Vendor - The name of the supplier, seller, or vendor organization to which the payment was made.
  • Cost - The amount of money paid.
  • Invoice Date - Use the calendar to enter the date on which the payment was made.
  • Description - The details of the materials purchased. Use the options at the top to format your text.
  • Attachments - Click the '+' button and upload the supporting documents like the PDF version of the invoice, bill, or receipt, images of the material, etc.
• Click 'Save'

The 'Total Material Cost' value for the task item is updated to add the entered amount.

• Click 'Back' at the top right to return to the 'Material Cost' interface.

The payment entry is added to the chronological list. Repeat the process to add material costs for more tasks.