Assign a cost center to each project 'stage' for reporting purposes. Classify which division or business unit the project stage is linked to, and group the data that is transferred to your accounting system via Accounting add-ons.
|Setup required before use||Who can use it?||Where is it?|
|Settings > Project lists > Cost centers|
Tip: Assign the cost center to each stage in the work breakdown templates.
What are cost centers?
Cost centers are attached to project stages to allow revenue reporting for each business unit or division. A cost center is commonly created for each state, division, country, or office location that the requires separate revenue reporting. A different cost center can be assigned to each stage in the project, to shows which divisions is involved to work on each project stage. If your organization doesn't have business units / division, then create a single cost center for use on all the project stages. Cost centers are used within reports to group financial data such as: costs, fees, invoice revenue and expenses.
If using Accounting add-ons to send invoice or expense data to your accounting system, the cost center is used to store the account code details. The account code is used map the Synergy data to the account that stores your invoice or expense data in the accounting system.
Why use cost centers?
Report on the project stage revenue separately for each division or office location within your company.
- Go to: Settings > Project lists > Cost centers.
- Click the 'Add' button in the top right corner.
- Type a short code for the cost center. e.g. 'NY' for New York or 'NSW' for New South Wales.
- Type a name for the cost center. e.g. New York or New South Wales.
- (Optional) Type the account code for use by the Accounting add-ons to map data to the accounting system.
- (Optional) Check the default box to mark this item as the primary.
- Repeat for each cost center required.
When a cost center has not been used on any project stages it can be deleted. Delete a cost center by:
- Go to: Settings > Project lists > Cost centers and use one of the following methods:
- Single row - Click the row action button and select 'delete'.
- Multi row - Select the check box(es) on the row left for each item you want to delete. Then click the multiple rows action button and choose 'delete'.
- The list refreshes and the item(s) have been deleted.
Tip: Mark the cost center as inactive when it has already been used and it will be removed from drop down lists.
Mark the cost center as inactive to stop the cost center from being used in the future, and remove it from drop down lists. When a cost center has been used on a project stage it cannot be deleted. Change a cost center to be inactive by:
- Go to: Settings > Project lists > Cost centers , and use one of the following methods.
- Single row - Click the row action button , and select 'edit'. Uncheck the 'active' box, and then save and close.
- Multi row - In the list check the box(es) on the left of the name column, and then click the multi rows action button . Choose 'set as not active' option.
- The list refreshes and only the active items remain in the list.
- Use the list filter 'all' to find both active and inactive cost centers.
- A strike-out style is applied to rows that are inactive.
Update an existing cost center to change the account code or name shown.
- Go to: Settings > Project lists > Cost centers.
- Click the row that you want to update, or click the row action button and select 'edit'.
- Update the cost center fields as required.
Tip: Change the name and this will update all historical data to show the new name / code details.
When a large number of items exist use the search or filter options to limit the number of rows shown in the list.
Search by clicking the search button and typing the keyword into the search box. To return to seeing all items in the list click the clearbutton in the search bar.
Tip: Learn more about searching with the list search or the global search.
Filter the list by selecting the search button . See the available filters by clicking the word 'active'. Select a filter from the drop down list and click the search button to apply the filter. The filter options are:
- Active - the default list filter that shows the items that can be used (seen in drop down lists).
- Inactive - see the items that can no longer be used, and are only shown when still linked to existing records.
- All - see both active and inactive items in the list.
Tip: Return to the default view by choosing the clear button in the search bar.
Each stage in a project will have a cost center (location) and discipline (business type) attached. Cost centers describe the division of the company which this revenue is linked to. Disciplines outline the type of business. Each invoice, bill, or staff expense created in Synergy is allocated to a stage, which always have both a cost center and discipline assigned. Cost centers and disciplines can be used to map the location that invoice data is transferred to in your accounting system using Accounting add-ons.
Each staff expense or bill (supplier expense) has an expense type assigned. Used to group together similar types of staff or supplier expenses (i.e. couriers, travel, sub contractors). The account code entered on each type is used to map these similar expense items to the matching location in your accounting system using account codes.
- MYOB AccountRight Live > Income codes = 4-1100, 4-1200, and Expense codes = 5-1100, 6-2100.
- Xero > Sales revenue account = 200, Supplier Expenses account = 300, and Staff Expenses account = 429.
Add account codes to cost center, disciplines, or expenses to map where your invoice or expense data should transferred to in your accounting system. Learn more about this account codes in the configuring Accounting add-ons topic.
Sample cost centers are created with a new organization. This sample data is added to give you inspiration about what revenue reporting groups to setup using cost centers. Delete / mark as inactive any of the sample cost centers that are not required. The sample cost center created is for the country listed on your organization. Other sample cost centers from the below list can be added if required.
e.g. Australia or USA
e.g. Australia: NSW, QLD, VIC
or USA: NY, LA, HI
e.g. APAC, EMEA, LATAM, North Americas
- Code Enter a short code to be used to describe the cost center. This will be used by Accounting add-ons when exporting data to the accounting system. The code must be unique.
- Name Enter a long name or description for the cost center. This name can bee seen in drop down lists when assigning cost centers to project stages, on reports, and exported to the accounting system using Accounting add-ons. The name must be unique.
- Account Code Cost centers can be used to map where the invoice or expense data is transferred to in the accounting system. For example link the invoices to be sent to account code 200 in Xero, or account code 4-1200 in MYOB AccountRight Live. This is an optional field.
- Default The cost center which will be applied to new project stages when added by default.
- Active If checked the cost center is active and will be available in drop down lists. Uncheck the active box to stop the cost center from being used in the future on project stages. Marking a cost center as 'inactive' will not remove it from any existing project stage