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Procore

Edit the Advanced Settings on a Funding

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 Limited Release
flag-us.png The Funding tool is available as a limited release for Procore customers in the United States who have implemented the Procore for Owners point-of-view dictionary. To learn more, see What tool names and terms are different in Procore for general contractors, owners, and specialty contractors?

Objective

To update advanced settings for a funding using the controls in the Funding tool's Advanced Settings tab.

Background

If you are a user with 'Admin' level permissions on the Funding tool, the steps below show you how to edit advanced settings for the project's funding. This includes choosing an accounting method for the Schedule of Values (SOV), enabling financial markup, owner invoice settings, comments settings, and payment settings. In addition to these Advanced Settings, additional configuration settings are on the tool's Configure Settings page. See Configure Settings: Funding.

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the project's Funding tool.
  • Additional Information:

Steps

  1. Navigate to the project's Funding tool.
  2. Locate the funding to work with. Then click its Number link. 
  3. Click Advanced Settings. 
     Note
    If your browser window is not in full-screen mode, choose More > Advanced Settings.
  4. Click Edit.
    edit-prime-contract-advanced-settings.png
  5. Under Schedule of Values Settings, set the following:
  6. Under Financial Markup Settings, set the following:
  7. Under Owner Invoice Settings, set the following:
    • Enable Owner Invoices
      Place a checkmark in this box to enable owner invoices on the funding. 
    • Enable Completed Work Retainage
      Place a checkmark in this box to enable work completed work retainage on Funding Change Orders.
    • Enable Stored Material Retainage
      Place a checkmark in this box to enable stored material retainage on Funding Change Orders
    • Level of Detail to Display on Change Orders
      The level of detail that is selected here determines how change orders are displayed on the 'Detail' tab of the owner invoice. This setting affects the invoice in view mode and print mode. See What are the different change order tier settings in Project Financials? You will always enter and edit information at the line item level of detail specified. Select one (1) of the following:
      • Funding Change Order (FCO)
      • Potential Change Order (PCO)
      • Line items in each Potential Change Order (PCO)
        This is the default setting.
    • Show Markup on Invoice PDF and CSV
      Place a checkmark in this box to show financial markup on the Detail tab's Export > PDF or Export > CSV for the owner invoices. For the CSV option, markup line items will be included at the bottom of the CSV file.
    • Approve Contractor Invoices when Funding Source Approves Funding Invoices
      Place a checkmark in this box so that once a funding source approves a funding invoice, the subcontractor invoice is also approved. This functionality will only be enabled if owner invoices are prefilled with invoices. To learn how owner invoices are prefilled, see Create a Funding Invoice.
    • Show Cost Code on PDF
      Place a checkmark in this box to show cost codes on the PDF. There is no cost code column in the Configurable PDF tab, but cost codes will show in headers if grouped by cost code.
  8. Under Payment Settings, set the following:
    • Enable Comments
      Place a checkmark in this box to see the Comments tab. Only users with 'Admin' level permissions on the Funding tool can leave comments.
    • Enable Payments
      Place a checkmark in this box to enable payments on the funding.
  9. Click Save.