Tracking Project Costs Accurately
In ToolWatch, tracking equipment costs requires connecting physical inventory movements to financial accounting. To automate this, the system relies on two critical designations entered on your transfer tickets:
Cost Centers: These are required fields that dictate exactly where a project is billed, tying the asset assignment directly to a specific billing setup and Rate Sheet.
Cost Codes: These are optional fields that categorize what type of cost is being incurred, such as distinguishing between heavy tools, fencing, consumables, or labor.
By establishing these codes directly during equipment transfers, job site managers ensure that background calculations remain seamless and financial project tracking stays accurate.
How to Add a Cost Center and Cost Code to a Transfer Ticket Header
Applying billing information to the header ensures that every item added to the transfer ticket automatically inherits the correct project accounting codes.
Go to the left-side menu and expand Inventory Movement.
Select Transfer Tickets.
Click + Create Transfer.
Select the appropriate Cost Center and an optional Cost Code from the dropdown menus to categorize the charge.
Fill in all other required fields, including Transfer From, Transfer To, and Assignment Date.
Click Process Transfer to save and submit the ticket.
How to Override Values on Individual Line Items
If specific items on a multi-tool transfer need to be billed to a different phase of work, you can manually override the header information at the individual row level.
Scroll down to the specific item row in your transfer list.
Locate the Cost Center or Cost Code columns for that row and select the new values as needed.
Understanding the Allocation Hierarchy
ToolWatch automatically prioritizes accounting assignments based on a strict sequence. If fields are left blank, the system looks downstream to find a fallback category:
Location | Priority | Notes |
Line Item | Highest | Overrides all header or default values for that specific row. |
Header | Medium | Used automatically for all items if no line-level value is entered. |
Rate Sheet | Lowest | Used for billing categorization only if both the header and line-level Cost Codes are left completely blank. This fallback does not populate project tracking. |
How to Set Default Cost Centers and Codes on Locations
To save time for field staff and prevent data entry errors, you can link default billing profiles directly to job site locations so they auto-populate on new transfers.
Go to Administration.
Click Company Lists.
Click Locations.
Select your target location and click Edit.
Select the default Cost Center and an optional default Cost Code from their respective dropdown menus.
Click Save.
The 3 Requirements to Trigger Billing Charges
ToolWatch will only initiate automated Job Cost or Billing charges if all three of the following conditions are met simultaneously:
A valid, active Rate Sheet is actively assigned to the chosen Cost Center.
A Cost Center is explicitly entered on the Transfer Ticket or automatically inherited from the Location record.
The transferred physical asset is actively listed on that Rate Sheet with an active Calculation Method and established rate.
Editing Cost Codes Before and After Posting
Understanding your data status is vital when making corrections. You can freely edit information on a ticket right up until the moment it is finalized.
Expand Inventory Movement.
Select Transfer Tickets.
Click to select your desired pending Transfer.
Open the Actions menu and select Open.
Click Edit Transfer.
Update the Cost Center and Cost Code fields within either the header or individual line rows.
Click Process Transfer to save your changes.
🛑 Important Rules for Posted Tickets
Once a Transfer Ticket has been processed and posted, its historical ledger data is locked, and direct edits to that specific transfer ticket are no longer permitted by the system.
However, if you need to adjust billing streams that have already been generated by a posted ticket, you do not need to delete or redo the transfer. You can easily adjust the billing targets for future streams directly within the system's browser console. For full step-by-step instructions on making these adjustments, please see our companion guide: "Quick Actions in the Billing Browser: Hold, View, and Edit Charges".
Quick Troubleshooting Tips
If your transaction lines are not appearing in your billing log after processing a transfer, run through this quick operational checklist:
Verify that the Cost Center typed on the transfer matches the exact name assigned to your active Rate Sheet.
Confirm that all required operational fields were filled in completely prior to hitting the post button.
Review the specific Calculation Method configured on the Rate Sheet for that item type to verify the dates qualify for billing.