Overview

In the construction industry, cost codes are used for cataloging, tracking, reporting, and managing expenses for a construction project. With cost codes, you can achieve full budgeting visibility for your project. Among other things, cost codes can be helpful when communicating expense data between different organizations or different parts of the same organization.

Cost codes are mostly used by accounting teams to track work hours and monitor expenses consistently across the organization. To sum up, cost codes provide a link between your projects, jobs, or tasks on one side and their related accounts on the other. Therefore, a cost code usually consists of a numeric identifier along with an account title (for example, "00-03-6587 Excavation and Foundation"). The exact format and categorization of cost codes depend on the cost code structure used by your organization. You can find more information on cost codes and cost code structure...

In Mobiclocks, cost codes are defined for each job site and are then applied to the timelogs tracked by employees at that job site. You can define cost codes in the MobiClocks Web App. See Define cost codes for more information. In the Cost Coding section of the Admin App, you can apply cost codes, which is discussed in Apply cost codes.

Lastly, cost-coded timelogs can be used to generate employee payroll and export it to third-party accounting software to be processed. See Payroll for more details.