A Cost center is a department or role in a company that incurs costs without directly generating revenue. Cost centers are the primary level of cost analysis in a company.

Cost centers enable companies to control total costs, decide resource allocation and calculate profitability by product or department.

To create a Cost center

1. On your sidebar, go to Settings
2. Scroll down to Finance
3. Select Workspace
4. Click on the arrow next to Cost centers
5. Click on Add cost center - in the upper right corner
6. Fill in the information. There are two mandatory fields: name and legal entity
7. Click on Add cost center

Cost center assignment and dedication

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

Assign employees in bulk

1. On your sidebar, go to Settings
2. Scroll down to Finance
3. Select Workspace
4. Click on the arrow next to Cost centers
5. Click on the 3 dots (top right)
6. Select Import assignments
7. Download the template and fill it out with your employee's cost center assignment. When you've finished, upload the file.

Assign employees manually

1. On your sidebar, go to Employees
2. Select the employee you want to assign the cost center
3. In the Profile tab, scroll down to Dimensions
4. Click on Edit assignments
5. Click on Add cost center
6. Choose the cost center and the dedication
7. Click on Save

Every time a user changes information for an employee that may require a change in cost center assignment, such as a change in manager, workplace, or team, admins will be alerted to review the assignment.

 

To delete or rename a cost center

1. Get to the cost center row you want to rename or delete
2. Click on the 3 dots icon
3. Select Delete or Rename