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      Cost Centers

      Learn how to create and define Cost Centers, assign employees, and analyze relevant information.

      Where can I find the Cost Center tab?

      How to create a cost center?

      Delete or rename cost centers

      How to assign cost centers to employees?

      How to edit and manage cost centers?

       

      💰 Most companies use Cost Centers to keep track of the costs in a segmented, company specific, way. The Cost Center enables companies to control total costs, decide resource allocation and calculate profitability by product or department.

      ❗️ You can work with the Cost Center structure that your company uses, in Factorial.

       

       

      Where can I find the Cost Center tab?

      • Head to Apps
      • Install the Finance App
      • Once installed, click on it
      • Head to the Cost Centers tab

      [MVP] CC Zero case

      How to create a cost center?

      • Get to the Finance tab
      • Click on Cost Centers
      • Add Cost Centers (top right button)
      • Fill in the information requested

      👇 There are two mandatory fields you need to fill in, in order to add a cost center.

      • Name
      • Legal Entity

      Install - MVP-1

       

      Delete or rename cost centers

      • Get to the cost center row you want to edit
      • Click on the 3 dots button
      • Select Delete or Rename

      ❌ The Delete option will only appear if the cost center can be deleted. Keep in mind that a cost center can only be deleted if it has never been assigned to an employee.

      🙌 Users will always be able to edit the name of a cost center.

      How to assign cost centers to employees?

      🧐 You can assign cost centers to employees in two ways: by assigning employees in bulk, or by assigning employees manually.

      📤 Assign employees in bulk

      • Get into the Employees Tab
      • Click on the 3 dots (top right)
      • Select Import cost center assignation

      Screenshot 2022-08-30 at 17.46.28

      ✋ Assign employees manually

      • Get into the Employees Tab
      • Select the employee you want to assign the cost center
      • A new Cost Center block will appear in their profile

      ‼️ Make sure you have installed the Finance app.

      How to edit and manage cost centers?

      👤 Admins can edit the allocation of cost centers to a specific employee, as the dedication can go up to 100% in a single cost center or be distributed among several ones.

      Cost center assignation

      Every time a user changes employee’s information that is susceptible to demanding a change of Cost Center assignment, like change of manager, change of workplace, or change of team, admins will be alerted to review the assignment 👇

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