Cost/Profit Center

Cost/Profit Center Configuration

A cost center is often a department within a company.The manager and employees of a cost center are responsible for its costs but are not directly responsible for revenues or investment decisions.

Roles

Finance Admin

Path

• To create Cost/Profit Center Category

Finance Admin » Accounting » Accounting Configuration » Cost Center Category

• To add Cost/Profit Center

Finance Admin » Accounting » Accounting Configuration » Cost Center Category

Pre-Requisite

• Finance policy must be created
• Finance Admin role to User
• Cost/Profit center category must be defined

Inputs Needed

• Cost/Profit Center Category Name & Type
• Cost/Profit Center
• Super Cost Center Name

Functionality

1. Able to configure Cost/ Profit Center with different category such as department,Faculty,employee & other
2. Able to edit department, ledgers mapped to Cost/Profit Center
3. Able to edit, delete cost/profit center

Step by Step

1. Add Cost/Profit Center Category

2.Cost/Profit Center

3. Map Ledger to Cost/Profit Center

4. Map to Department

5. Edit / Delete Cost/Profit Center