How do I manage Major Cost Categories?

This article explains how to use Major Cost Categories in your cost planning.

What are Major Cost Categories and why would I use them?

A major cost category is a way of organizing your cost categories structure without having to replicate the cost categories numerous times.  If there is a type of grouping where each of your cost categories fall under each grouping, the use of Major Cost Categories may be beneficial.

1. Create Portfolio Lookup

The Portfolio Lookup is a field create on the PortfolioEngine database.  Think of it as a choice field.  When a portfolio lookup is used as a Major Cost Category, each choice will be a heading with all the cost categories under each.  

Navigate to the Portfolio Lookups page.  

1.1. Create New Portfolio Lookup

Enter the lookup name and choices.  In this example, I need to be able to specify in which regions we plan to spend money for our projects.  So, for each project's budget, I need to specify what amount is spent for each geographic region.

2. Open Cost Categories

Navigate to the Cost Categories page.

3. Cost Categories

Here is an example site, where there is no Major Cost Category set yet.  All the cost categories are listed.  

4. Designate Major Cost Category Settings

  1. Select the Major Cost Category.
  2. Select the Default Major Category Item.
  3. Click Save.

5. Edit Cost Types to Use Major Cost Categories

Navigate to the Cost Types page.

5.1. Select the Cost Type

  1. Select the Cost Type to modify.
  2. Click Modify.

5.2. All Cost Categories Grouped by Major Cost Category

All the cost categories from the cost category page will show, under each heading of the choices from the Portfolio Lookup created earlier.

5.3. Select the Desired Cost Categories

Select the desired cost categories to show for this cost type.

6. Verify Configuration

Edit the cost plan for a project.  The selected cost categories will show under the Major Cost Categories headings.

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