What Are Cost Codes? | For Construction Companies

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Cost codes are a way to organize all of our costs in a job--which are great for organization (and productivity)! So, let's dive into cost codes and learn more.
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*Disclaimer* This video is not directed towards children, as it contains content that children would most likely find extremely confusing and most likely wouldn't understand. It is intended for adults, not children, to assist in business matters.
Atlas CFO does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
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[@WmmEast]

Excellent presentation. Very well organized and informative. Most will push this to the side. But accurate accounting and analysis will paint the picture and clarify decision making at the project management level. Reviewing estimates vs actuals will tighten up competitive bids for future projects and help win more work. Can also be used for risk management. Critical information.

[@atlascfo8064]

Thanks for your comment. Glad we could help!

[@RhondaRobinsonisflyassbetty]

Great video

[@functionspro6376]

Very good explanation of cost codes.
So, in summary cost codes, accounts, divisions, class etc. all are used to see the costs from different perspectives … right ?
One question … Is cost code and cost center a same term?

[@melissadick1548]

Hi there, thanks for the question. Many times cost centers operate more like a division/class than a cost code/item. Hope that helps.