1. Lentune | Knowledge Base
  2. Projects
  3. Managing Cost Codes and Budgets

Overview of using Cost Codes

Cost Codes can be used to identify and report on costs and can be applied to Budgets for individual Projects.

Introduction

Coding Structure

Heirachy of Cost Codes

Importing Cost Codes


Introduction

Cost Codes help you to track costs and manage Budgets for your Projects. This can then be used to flow through to reporting for specific Projects and General Ledger expenses.

If you are integrating to other software, e.g. CostCon, where you need to update Cost Codes changes, you can use an integration automation tool such as Zapier, to automate this process. Get in touch with our support team for assistance.

Return to Top of Page


Coding Structure

Cost Codes can be alpha numeric, with prefixes and suffixes to allow your coding to match your accounting system.

Cost Codes can be grouped by Cost Type.

Once a Cost Code has been added to a Project, Budgets can then be added to the Cost Code.

A parent General Ledger Code can also be added to a Cost Code, allowing General Ledger reporting and more comprehensive reporting via Lentune Analytics.

 Return to Top of Page


Heirachy of Cost Codes

Master Cost Codes are Cost Codes that don't belong to a specific Project. They can be used as a list of Cost Codes that can be selected to be applied to any Project.

For example, a Cost Code for Timber couild be added to a particular Project, and here you can add a budget amount for that Cost on that Project. For example, you might have a budget of $xx.xx for the Cost Code of framing timber for a Project called Chicken House.

 

Cost Codes can also be categorised as Cost types. Some example Cost Types that you might use could be Labour, Materials, Subcontractors. You can create as many Cost Types as you need.

For the above example, a Cost Code of Timber could belong to the Cost Type of Materials, and  Cost Code of Temp Hire could belong to a Cost Type of Labour.

  Return to Top of Page


Importing Cost Codes

Cost Codes can be imported to your Lentune system to match the coding from your accounting system.

Export a template

The first step is to Export a template spreadsheet which you can edit to re-import.

  • Go to Administeration > Cost Codes.
  • Click Export / Import.
  • Click Export to spreadsheet.

This will export a spreadsheet which you can edit to add new Cost Codes and re-import.

 

 

  • Edit the spreadsheet to add new Cost Codes.

Now you can re-import the spreadsheet.

Import your spreadsheet of Cost Codes

  • Go to Administeration > Cost Codes.
  • Click Export / Import.
  • Click Import from spreadsheet.

 

On the Upload Document screen:

  • Drag your file to the screen or browse to locate it.
  • Click Upload.

 

    Return to Top of Page


Was this helpful? If you need more information, or would like to contact us about this article, please email us at support@lentune.com.

Thank you. We value your feedback.

Last updated: 7 February 2023