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Managing Cost Centers

Managing Cost Centers: an operating units that are used to control business processes and related expenses.

Overview

A cost center is an operating unit that is used to control business processes and related expenses. Besides, cost centers are used for creating cost plans and monitoring them in the course of a business year.

The structure of cost centers is flat, which means that no hierarchy can be formed. Cost centers are defined according to functional requirements, physical location, or responsibility for costs.
Cost centers are managed as a list. The Global cost center is generated during the installation and cannot be deleted. Please note that configuration items that are not explicitly assigned to any cost center belong to the Global cost center.

Cost centers are managed in Master Data application → Organizational Structure → Cost Centers page: 

new_cost_center.png

General

  • Name: name of the cost center;
  • Valid From/Valid Until: if the cost center will be used for a limited time only, enter the validity period here. Otherwise, leave the fields blank.
  • Cost Center Number: number of the cost center;
  • Cost Center Type: whereas departmental cost centers are usually fixed components of the organizational structure, project cost centers are used for a specific purpose and for a limited time.
  • Abbreviation: abbreviation that your company uses for the cost center;
  • Status: the Inactive status is used, for example, for former cost centers that are no longer used;
  • Description: additional information about the cost center;
  • Organizational Unit: if you create a new cost center, you can link the configuration item to the respective organizational unit;
  • Responsibility: primary decider and other Delegated Decision Makers for approval processes, for which this cost center is financially responsible.

Services

Displays bookings from provisioning workflows.

Notes

Comments and notes of a general nature. You can edit these entries later.

Actions

The following actions are available for the Cost Centers:

  • Import Cost Centers: import the list of cost centers from MS Excel by using the predefined import sequence and template;
  • License Inventory: Generate the License Inventory report;
  • Generic actions: Edit, Add, Delete, History.