Adding cost centre facility

Question asked by Charline Hurst 7 years ago

Are there any plans to add a cost centre facility ?

As a growing company using Clearbooks, we don't really want to change systems, but the time is fast approaching when we will need to do cost centre accounting to make departments responsible for there own profit and loss. I'm sure other companies would be looking to do the same!.

Therefore, are there any plans for this development?

Thanks

Charline

1 Reply

Hello Charline,

At the moment, most businesses use our Projects function as cost centre reporting.

Going to Settings > Organisation > Toggle Features and then turning on Projects will enable this. Note, this will need to be done for all businesses you have access to.

The basis is that you will make a project titled Marketing (example cost centre) and then others for your other departments.

When you do this, you will be able to allocate invoices and bills to those projects. It will save the data to the normal Profit and Loss and then a Project report as well.

To see the projects report, you will need to navigate to Tools > Project > Report. Projects can be toggled on and off. The guide below gives further information about that.

http://www.clearbooks.co.uk/support/guides/projects-settings-2/projects-report-comparison/

Doing these steps will let you set up the cost centres.

PS: as an advanced method for projects, you can use the toggle feature Project Invoice Items. This will break down each item in the invoices and bills to allocate to multiple cost centres instead of a global one.

Please do look at the Clear Books demo account for this as there is dummy data already set up for this.

Vanish

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