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

• Ensure that you are on the 'Cost' screen in the 'Finance' module of the project. If not:
  • Click the main menu at the top-right
  • Click 'Cost' under the Financials & Controls' menu
  • Select 'Materials' 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.
• Cost Code - The cost code assigned to the task item for which the material payment was made.
• Description - The label of the task as in the contractor schedule.
• Source - Indicates whether it is a planned (from the schedule) or unplanned expense (from recurring cost or T&M)
• Vendor - The supplier, or seller to whom the payment was made.
• Planned Cost($) -  The total estimated material cost for the task item.
• Actual Cost($) - The amount of money paid to the vendor in that instance.
• Variance - 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.
• Click the icon near the invoice date to see the description and details for that entry.

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 the button 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. 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.

Search, Filter, and Sorting Options
Click the magnifier icon and use the 'Search' box located at the top left to find an entry using any value from the table as search criteria 
Click any column header to sort the rows in ascending or descending order based on that column's data.
Click the cog wheel icon at the top right to adjust the display density and customize the display and order of the columns. See Customize Columns in List Views.
The options at the top left allow you to filter the entries, create nested groups of entries, highlight cells and manage personalized and customized views of the table. Use the links below to learn more:
Filter Options in List Views
Highlight Cells in List Views
Manage Custom List Views
View Groups and Subtotals
Get totals and subtotals of numerical data for any selected set of records by grouping and applying nested grouping. 
Use theicon 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 'Download' icon 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