A Cost Center is a part of an organization that does not produce direct profit and adds to the cost of running a company. Examples include Research and Development, Marketing and Internal Help Desks. You can add Cost Centers, and then assign employees to a Cost Center for accounting purposes. This creates a grouping in payroll.
To add a Cost Center, click Company Setup>Organization>Cost Center.
Click Add Cost Center. The form will pop up.
Fill out the necessary details:
- Cost Center Name – the name of the department or unit to charge costs to
- Cost Center Description – a description of the Cost Center
After filling out the details, click Add. Otherwise, click Cancel. You will see a success message for a proper addition. After clicking Add, the Cost Center will be saved in the system. You will be led back to the Cost Center page.
Editing the Cost Center
You can edit the Cost Center you just created. Click the Cost Center you would like to edit. The Edit Cost Center form will pop up. Make the necessary edits and click Save. Otherwise, click Cancel.
Deleting the Cost Center
Admins can delete Cost Centers after they have been created. Cost Centers can be deleted one at a time or simultaneously. To delete one at a time, tick the box of the Cost Center you would like to delete and click the Trash button next to the Add Cost Center button.
A warning prompt will appear.
Click Yes. Otherwise, click No. You will be led back to the page and the deleted Cost Center will no longer be visible.
If you want to delete all Cost Centers simultaneously, click the tick box at the first column and a Trash button will appear next to the Add Cost Center button. All of the boxes will be ticked. You can untick the boxes for the Cost Centers you do not want to delete. Click the Trash button.
You are ready now to add a new Cost Center.