General Contractor, Owner, project cost, project performance, Subcontractor —

Using Cost-Code Level Modifiers for Greater Visibility into Project Cost & Performance

Evan DeWaltJune 02, 2023 • 3 min read

Introducing Rhumbix Cost Code-Level Modifiers

Cost Code level modifiers in Rhumbix enable the recording of employee-specific designations for different activities and labor rates within a cost code. This functionality allows for partial day designations, where employees may work on multiple activities with varying pay rates. For instance, a carpenter might spend six hours building formwork, earning a carpenter’s hourly rate, and then two hours cleaning the job site at a labor rate. Rhumbix’s configurability ensures the ability to record such granularity for each employee, resulting in accurate and detailed cost code tracking that can drive the most effective payroll and financial reporting.

Where Standard Cost Code Reporting Falls Short

Cost codes serve as a standardized reporting system, allowing contractors to organize and categorize project expenses. By assigning specific construction tasks and items to a specific code, contractors can gain clearer visibility into the allocated resources of the project. This information is meant to help ensure payroll accuracy, identify potential cost overruns, make informed decisions for cost control measures, and take proactive steps to keep projects on track.

Reporting against cost codes is the foundation for accurate payroll and project performance measurement. However, most construction reporting needs to track cost codes at the frequency, accuracy, and detail needed for large-scale construction projects, which often involve complex structures with numerous activities, tasks, and subtasks. This results in foremen and field teams needing help to capture the required granularity of detail and resorting to broad categorizations that lack specificity. 

Without the ability to capture details like same-day trade and classifications changes and associate them against specific cost codes, construction teams face time-intensive processes for ensuring accurate worker compensation while lacking visibility into key performance measurements.

Rhumbix Delivers Cost Code Details Where Others Fall Short

Rhumbix revolutionizes cost code management by providing an intuitive and flexible solution for cost code level modifiers. This provides the granularity teams need to deliver accurate payroll, identify potential cost overruns, make informed decisions for cost control measures, and take proactive steps to keep projects on track.

The following outlines key characteristics and advantages of Rhumbix’s highly configurable tool for managing cost codes:

  • Trade and Classification Modifications:

Rhumbix allows for seamless modifications at the trade and classification levels. This feature accommodates scenarios where different activities within a job may have distinct pay rates. Construction teams can easily assign specific trades and classifications to employees, ensuring accurate compensation based on their designated tasks.

  • Custom Cost Code Level Modifiers:

Rhumbix offers the ability to define custom cost code-level modifiers. These modifiers can be tailored to meet unique requirements, allowing construction teams to record additional details beyond trade and classification changes. Customers can create custom modifiers such as shift work or travel pay, offering full flexibility to address various pay-related scenarios.

  • Streamlined Mobile App Experience:

The Rhumbix mobile app provides a user-friendly interface for managing cost code-level modifiers. Users can effortlessly select project details, assign workers, and add modifiers on the go. The mobile app’s intuitive design ensures a smooth and efficient experience while capturing essential information.

  • Comprehensive Cost Code Tracking:

With Rhumbix, assigning cost codes to specific activities becomes a straightforward process. Construction professionals can associate activities with the appropriate cost codes, ensuring accurate tracking of labor rates and activity variations. Adding comments further enhances transparency and provides essential context for each cost code entry.

  • Expanded Configurability:

Rhumbix’s emphasis on configurability extends beyond the basics. Construction teams can define naming conventions for cost code level modifiers, ensuring alignment with their specific terminology. This flexibility empowers users to adapt Rhumbix to their unique organizational structures and requirements.

Built for The Way You Work:

Rhumbix’s Time & Resource Management Platform empowers construction teams with exceptional configurability around cost code management. By leveraging cost code level modifiers, contractors can accurately track labor rates and activity variations, even at a granular level. With Rhumbix, the industry gains a comprehensive solution that streamlines cost code management, eliminating tedious processes and ensuring accurate employee compensation. Embracing Rhumbix’s configurability offers a competitive advantage in the construction landscape, making it an invaluable tool for efficient project management.