Cost Centres
In addition to accounting ledgers, companies can opt to allocate payroll costs to specific cost centres. These are commonly set as location or department based costs, but can be customised based on your finance and accounting needs.
Viewing Cost Centres by Level
Further below, you can click on the Show Cost Centres by Level.
This will help visualise the centres to ensure these were set up at the correct levels.
Adding Cost Centres
In the Accounting page:
- go to to the Cost Centre
- Click +Add
- Input the details for each Cost Centre:
Each cost centre has three details to set:
- Level
You can choose any name, code, or number to describe the level of the cost centre (e.g. L1, L2, etc.)
Each new level will be shown as a separate column with the Journals page. - Code
Insert the code of the cost centre that is set in your accounting journal. Ideally these match codes available in your accounting software. - Name
Give a name to each cost centre.
Importing Cost Centres
Integration
A quick way to import Cost Centres (and accounting ledgers) is to connect an integration and click Import & Sync from the Integrations page.