Enable Cost Allocations and Components for a Project in Portfolio Financials
Note
The information in this tutorial applies to accounts with the Portfolio Financials product in Procore. Reach out to your Procore point of contact for more information.Objective
To enable cost allocations and components for a new or existing project in Portfolio Financials.
Background
Cost Allocations allow you to allocate budgets, holds, contracts, schedule items, and change orders to sub-projects called components using percentage-based allocation rules. Each component acts as a sub-project to which you can allocate and track costs. Budgets, holds, contracts, schedule items, and change orders can all be assigned to components based on the percentage-based logic of the allocation rules assigned to them.
Things to Consider
- Required User Permissions:
- 'Full Access' to the project or higher.
- Additional Information:
- Important! After a component is added, the Allocations feature cannot be disabled for the project, and the component cannot be deleted.
Prerequisites
- Cost Allocations is an add-on feature that must be enabled for your account by Procore. If you are a Company Admin and would like this feature available for your projects, please reach out to your Procore point of contact for more information.
Steps
You can enable Cost Allocations when adding a new Portfolio Financials project, or by changing the settings on an existing project.
To enable Allocations for a new project:
- From the Dashboard, click Add New Project.
- Enter project details in the fields as necessary.
- Click the toggle under 'Project will be broken down into components' to the ON
position.
- Click Add.
To enable Allocations for an existing project:
- On the Project Page, click the vertical ellipsis
icon next to the project's name.
- Click Edit Project.
- Click the toggle under 'Project will be broken down into components' to the ON
position.
- Click Save Changes.