A Cost Centre is a portion of your organisation; it could represent a division or project to which costs can be specifically allocated. Typical examples include marketing and customer service.
This article gives an overview of setting up cost centres and contains the following sections:
1. Adding a New Cost Centre
In order to add a new Cost Centre, you can follow a few simple steps:
- Navigate to: Administration >> Organisation >> Cost Centres.
- Select the Add New Cost Centre button.
- Fill in the data related to the Cost Centre you want to create and save.
When saving your Cost Centre details, a Reports To record will also be created. This will allow you to set up your hierarchical Cost Centre structure, remembering that the 'Root' value indicates the highest level of the organisation.
Note:
- Your Cost Centre Information can also be added by using a data import. For more information, see: Cost Centres Import .
2. Setting up a Reports To Relationship between Cost Centres
Reporting relationships can be added and maintained using the Reports To section of the Cost Centre Details screen. The Reports To section supports historical data, enabling you to track changes in your Cost Centre structure.
Setting up a hierarchy between Cost Centres helps you to view information in an immediate and easy way. Once you have set up your Cost Centre reporting relationships using the Reports To section, you will then be able to easily view your Cost Centre structure in a Cost Centre Tree.
Set the Reports To field to the level above the one you are working on. If the Cost Centre you are working on is the top level one, or you do not have a hierarchical structure to set up, leave it blank.