Accounting Codes Overview

updated

January 23, 2020

Summary: This article will give an overview of what accounting codes are and the importance of their roll within CoConstruct.

 

What are accounting codes?

The accounting codes are the basis for job costing in CoConstruct and will carry through the financials of the project.  Accounting Codes will allow you to classify your project costs and track how your estimate compares to the actual job costs to understand what elements are impacting your bottom line.

If you're integrating with QuickBooks, the accounting codes will link to your item or product/service list to support the transfer of information between the two systems.

 

How should my accounting codes be set up?

When thinking about how you want to set up your accounting codes, think about how much detail you want and can sustain in breaking down your estimates and project costs.  While having hundreds of codes may provide better detail into where your cost variances are occurring, this also requires more time and refinement by your team to build estimates and record costs correctly.

While not necessary, it's useful to have numeric accounting codes so that you can group your project costs within the budget.  Without a numbering system, your codes will be listed alphabetically in the budget.

 

For a recommended set of codes, reference the NAHB code list attached (this CSV file is formatted perfectly for importing directly into CoConstruct!)

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