Recurrring Cost - Overview

Modified on Tue, 12 Aug at 7:11 AM

The Recurring Cost module empowers project teams to efficiently configure, monitor, and manage periodic financial obligations across the construction lifecycle—such as utility bills, outsourced security services, and other ongoing expenses.

Set up recurring entries just once, specifying the expense type, payment amount, and frequency (daily, weekly, monthly, etc.).
Entries are automatically logged, tracked, and routed through a structured review and approval process—ensuring accurate budgeting and financial control.
Supports not only scheduled recurring payments but also ad-hoc or one-time expenses tied to specific project needs.
Authorized personnel—including project engineers and finance teams - can dynamically configure and manage payment schedules.
At the end of each payment cycle, the system generates approval requests, which can be submitted and reviewed in a transparent and controlled workflow.

Note: Each recurring cost entry must be associated with a dedicated cost code to enable accurate financial tracking.
Before creating entries, ensure that your company’s cost code master list includes the necessary codes for all relevant recurring and ad-hoc expense types.Refer to View Company Task Codes for steps to access available cost codes at the company level.
If you do not see the required codes for recurring costs, contact your company administrator for assistance.

Recurring Cost Workflow

Step 1 – Configure the Recurring Cost Entries

Members with responsibility over the recurring expenses, set up recurring cost entries to align with project or organizational needs. This setup includes specifying key details such as:

Cost category and relevant cost codes
Payment frequency (e.g., weekly, monthly, daily, one-time)
Expected duration of the recurring payment
Estimated cost for budgeting and tracking

Tailor the entries to reflect actual financial commitments and ensure consistency with your company’s accounting structure.

Step 2 – Review and Confirm the Recurring Cost Entries
Once the recurring cost entry is created, finance managers or authorized managers can review the entry, make necessary edits to the configuration details, and confirm it. Only after this confirmation, the recurring cost becomes active.

Step 3- Recurring Cost Requests

Payment approval requests are automatically generated based on the type and timing of each expense entry, streamlining financial tracking and approvals:

Recurring Payments: Triggered at the end of each defined cycle (e.g., weekly or monthly), ensuring timely processing.
One-Time Payments: Automatically requested at the end of the day, the entry is recorded.
Ad-Hoc Expenses: Requests are raised as soon as the cost is reported and the corresponding invoice is submitted from the field.

Step 4- Review and Submit the Requests

The requestor reviews the system-generated payment requests, verifies the details, and makes any necessary adjustments—such as modifying payment amounts—before forwarding them to the designated approvers for further action.

Step 5- Approval of Payments

Authorized approvers review the submitted recurring cost requests to ensure accuracy and alignment with the configured schedule and financial parameters. Once validated, the costs are approved and recorded in the project’s financial system for processing, audit readiness, and future tracking.

See the following pages for more details: