Cost and Profit Centers | Banana Accounting Software

Cost centers are usually used to categorize expenses to specific activities, ... presentation of the cost centers in the Enhanced Balance Sheet with groups. Skiptomaincontent CostandProfitCenters Thecostandprofitcentersallowyoutocatalogthetransactionsaccordingtodifferentcriteriathannormalaccounts. Costcentersareusuallyusedtocategorizeexpensestospecificactivities,whichmayormaynothaveacorrelationbetweenthem. Projects,Events,Buildingsites Customersandsuppliers,Partners,Merchants Additionaldetailforcertainexpenses(e.g.ancillaryexpenses) CostcentersareassignedtothetransactionrowandcanbeusedsimultaneouslytotheSegments. CharacteristicsofCostcenters TheCostandProfitcenters(CC)areaccounts,precededbythe".",","and";"signs Therearethreelevelsof costcenters: CC1precededbyaperiod"." CC2precededbyacomma"," CC3precededbyasemicolon";" Eachlevelisindependentoftheother. Foreachlevel,therecanbeanunlimitednumberofcostandprofit centers. Asuperiorlevelcanbeusedwithoutusinganinferiorone. Costcentercodescanbealphabeticornumeric. Costcenterscanhavetheirowngrouping,differenttothatofnormalaccounts.Forthesamelevelofcostcenters,subgroupscanbecreated.Becarefulnotto mixcostcenter groupswithothergroupsofadifferentlevelorwithnormalaccountsorsegments. Eachcostandprofitcenterhasitsownaccountcard,completewithtransactionsandbalances. Atransactiononthecostcenterisindependentoftheaccountrecordedindebitorcredit. Onecanevenrecordonacostcenterwithoutanyaccountinthedebitandcreditcolumn. SettingupcostcentersintheAccountstable CostcenteraccountsaresetupintheAccountstable,withtheexceptionoftheCashManagerwhichonlyusessettingupintheCategoriestable. Forsettingup: Createaspecificsectionforthecostcenters. ThissetupwillbenecessaryforthepresentationofthecostcentersintheEnhancedBalanceSheetwithgroups. Enterasectionwithanasterisk*forasectionchange. Inthenextrow,enter03and04foraprofitcenter andtherelateddescription. Addrowsforthecostcenter IntheGroupcolumn,enterthegrouptowhichthecostcenteraccountisassigned IntheAccountcolumn,enterthecostcenteraccountprecededbyafullstop"."forthosetoberegisteredinCC1 column(Transactionstable),acomma","forthosetoberegisteredinCC2columnandasemicolon";"fortheonestoberegisteredintheCC3column. IntheGrcolumn,indicatethegroupintowhichtheamountsaretobetotaled. InaMulti-currencyaccounting,theaccountcurrencyisalsospecified. Addthecostcentergroups Inoneandthesamegroup,total onlyforonespecificlevel. Asfornormalaccounts,differentlevelscanbecreated. FileProperties(VATamount) IntheFileandaccountingpropertiescommand,intheVATtabyoucansettheamountofcostcenterswiththefollowingoptions: Usetransactionamount-Theamountofthecostcenterisregisteredaccordingthetransactionamount UseamountexcludingVAT-TheamountofthecostcenterisregisterednetofVAT. UseamountincludingVAT-Theamountofthecostcenterisregisteredincluding VAT. Transactions Inordertoregisteronthecostcenters,itisassumedthatthecostcenteraccountshavealreadybeenenteredintotheChartofAccounts. Toproceedwiththerecordings,youneedtobeintheTransactionstable,intheCostcentersview;intheCC1,CC2,CC3columns,youneedtoenterthecostcenteraccountwithoutthepunctuationthatprecedesit. Torecordonthecostcenterincredit,thecostcenterneedstobeenteredprecededbytheminussign(-). FortheIncome&Expenseaccounting,youcandefineforthecostcenterstofollowthesignofthecategory intheFileandaccountingproperties. Inordertorecordaglobalamountonmorethanonecostcenterofthesamelevel,adifferentrowneedstobecreatedforeachdifferentcostcenter. IfyouwishtodisplaytheCostCenterdescriptionintheTransactionstable,youneedtoactivatethecorrespondingcolumn(CC1Des.,CC2Des.orCC3Des.)viatheData→ Columnssetupcommand. Costcenteraccountcard Thecostcenteristreatedasanyotheraccount,soeachcostcenterhasitsownaccountcardwith accountbalanceandaccounttransactions. Inordertoviewallcostcenteraccountcards,clickonthemenuReports→ Account/Categorycards →Costcenters(Filteroption). Relateddocuments: Managingmembersofanassociation ClientsandsupplierswithVATonpaidinvoices   Printer-friendlyversion BooktraversallinksforCentridicostoediprofitto ‹VATReport Up Segments› Helpusimprovethedocumentation Wewelcomefeedbackonhowtoimprovethispage. Telluswhatthemeneedsabetterexplanationorhowtoclarifyatopic. Sharethisarticle:Twitter| Facebook| LinkedIn| Email Booknavigation Tableofcontents Inthisarticle52>