Matching costs allows you to track your spend, monitor the project's progress in real-time, and facilitate quick decision-making during the project. This leads to improvements in profits, better understanding of project budgets, and reduced risk for your business.
We recommend you match all items in your project daily and/or weekly. This keeps your project as up-to-date as possible, keeps the task simple, and, most importantly, complete.
The Xero accounting software integration syncs all cost items to your PX360 account.
Included in this guide:
Budget Allocate (Video)
Split Allocate (Video)
Work Order (Video)
Match a Task To a Cost
On the Cost tab inside a project, you'll see each cost line has a green button. Click that to open the Cost Matching Options window.
An orange link means a cost has already been matched. Clicking the orange button will let you edit that match.
Cost Matching Options
There are several options to choose from to match the cost.
Budget Allocate
This is a standard allocation. When a cost is matched this way, the cost amounts can be seen when double-clicking the associated tasks on the Planning tab.
Cost Centre | Choosing the cost centre narrows down the tasks for matching |
Tasks | Select the appropriate task to be matched to the cost |
Types | The category of the cost |
Approved Variation / Provisional Sum Amount (PSA)
Only approved Variations/PSAs can be matched. This can be seen on the Planning tab the same way as a standard allocation.
When matching a cost to a Variation or PSA, PX360 also tracks the variation number on the Planning tab and the associated Progress Claim.
Variation | Default field. PSAs and variations are treated the same here. |
Variation Title & Number | Each variation/PSA is assigned a number when created. Select one to be matched from the dropdown. |
Tasks | Select the appropriate task to be matched to the cost. |
Types | The category of the cost |
Split Allocate
Use this option when one cost should be split over multiple cost centres and tasks. E.g. $500 Hardware Bill = $400 to Roof Timber Framing and $100 to Masonry Retaining Wall. You can add or delete rows as necessary while entering the allocation.
This can be seen on the Planning tab the same way as a standard allocation.
Cost Centre | Choosing the cost centre narrows down the tasks for matching |
Task | Select the appropriate task to be matched to the cost |
Type | The category of the cost |
Amount | Enter the amount of the total cost that should be allocated to this specific cost centre/task line item. E.g. $400 to Roof Timber Framing from above example |
You can also see a case study on cost match types here.
Work Order
Use this match option to individually track a cost to a supplier or contractor. This can be seen on the Planning tab the same way as a standard allocation. It also tracks back to the cost row on the matched Work Order.
Search for and/or select the Work Order and check the Selector box to match the cost.
Note: You may need to Edit your Work Order to match costs if the breakdown amounts are less than the currently approved amounts. |
Submit a Match
Submit
Click Submit when your match does not require any withholding amounts. This selection does not notify any team members of the cost match.
Pay Note & Withhold
Click Pay Note & Withhold to submit and track a cost withholding. Once completed/fixed, this withholding amount can be settled. This selection does allow for the notification of a user via email.
Total | Automatically filled from the cost |
Withhold Amount | Amount being withheld from payment. Withholding amounts are held from the planning budget's Exhausted Spend. Examples may be incomplete work or defects. |
Retention Amount | Amount specific to the contract. Retention amounts are held from the planning budget's Exhausted Spend. |
Payment Amount | Automatically filled depending on the withhold and/or retention amounts above. |
Comments | Be descriptive. |
Notify User (Email) | The email address of the person responsible for approving the payment. |
Remove a Match
Click the orange button for a cost row and click Clear Match to unmatch a cost.
Archive a Xero Expense Row
This feature enables you to hide selected cost rows within the Cost Tab, offering improved management for expenses that have been synced through from Xero.
To archive an entry in the Cost Tab, simply select the desired cost row by ticking the checkbox next to it, and then click the Archive Row button located in the top left corner of the screen.
To access archived rows, click the Show Archive Row button on the top right. If you wish to unarchive an expense row, follow the same process by ticking the row and then clicking the Unarchive Row button.
The best application for this is for contractor labour which have used the PX360 Phone App Timesheet for task tracking benfits. The contractor labour can then be left unmatched and can now be archived from your Cost Tab. Creating better effectiveness for your costs.
Note: You cannot archive any cost that has previously been matched; you must first clear the match before archiving.
Broken Split Bill Match
Since PX360 syncs all costs with the integrated Xero account, if a value is changed within a Split Bill in Xero, it means the user will need to re-allocate the match. All matched whole number amounts will automatically update across PX360.
Click the red button and re-match the Split Bill. This will enable the old amount to be removed, the new split amount applied, and updated to match Xero accounts.
Still have questions? Email our team at support@px360.com.au and we would be happy to help.