A Cost Centre is a company division or department relating to your business products/services. You can define Cost Centres here and link each one to the relevant Dimension (Cost Centre level). Once a Cost Centre is assigned to a Sales or Purchase Transaction you will be able to apply a filter to your Profit and Loss report to see costs incurred on your GL accounts.
First, you will need to set up your Dimensions.
A Dimension is a Cost Centre level. Dimensions allow you to create up to 5 levels of analysing your expense and Revenue transactions. For example, Branches, locations, departments, business activity etc. When running the Profit and Loss report you can filter by Dimension which will break it down by GL account.
- Click on Edit to change a description and to make the dimension active tick the box.
- Click on Save to accept changes
Next, you can set up your Cost Centres. A Cost Centre is a company division or department relating to your business products/services. You can define Cost Centres here and link each one to the relevant Dimension that you have set up above.
- Click on ‘Create New Cost Centre Code’ button
- Now add new row details to include a Code, Description, select Dimension from list, tick Active box so Cost Centre appears on transactions/reports
- Click on Save to keep changes