Cost centres / cost centers

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.

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 to map the Synergy data to the account that stores your invoice or expense data in the accounting system.

Why use cost centers?

Use cost centers to report on a project's stage revenue separately for each division or office location within your company.

Sample cost centers

You can use the sample cost centers 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.