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Setting Up Cost Centers

  1. Create Cost Center
    1. Navigate to Accounting > Settings > GL Funds & Categories > GL Cost Centers
    2. Select the "+Add Cost Center" button
    3. Enter a name, description, and select the box next to "is Default" if this is the default Cost Center.
    4. Select the "Save" button
  2. Assign Cost Center to Homeowner Groups (if needed)
    1. Navigate to Accounting > Receivables > Groups
    2. Open the group row
    3. Select the Cost Center from the Cost Center dropdown menu
    4. Select the "Save" button
  3. Assign Cost Center to GL's (as needed)
    1. Navigate to Accounting > GL > Chart of Account
    2. Select the green pencil icon on the row for the GL you want assigned to a Cost Center
    3. Select the Cost Center from the Cost Center dropdown menu
    4. Select the "Save" button
  4. Assign the Cost Center to Charge Codes (if needed)
    1. Navigate to Accounting > Settings > Charge Codes
    2. Open the row for the charge code you want assigned to a Cost Center
    3. Check the box next to "Use Group Cost Center" or Select the Cost Center from the dropdown under "Cost Center"
    4. Select the "Save" button
  5. Create Income Statement for with Cost Center options
    1. Navigate to Accounting > Reports > Management Reports
    2. Open the Income Statement Detail report
    3. Select Config (Gear Icon)
    4. Select "Open Grid Designer" (Gear Icon)
    5. Select the gear icon to the right of "Current Month"
    6. in the Field section; Change "Account Name" to any other selection from the dropdown
    7. Select the "Save" button
    8. Select the green "Apply" button
    9. Select the "Save" button
    10. Repeat steps c - i, however this time step f is changing the field selection back to "Account Number"
  6. Update Budget (if needed)
    1. Navigate to Accounting > GL > Budgets
    2. Open any GL that needs to be budgeted by Cost Center
    3. Make necessary edits
    4. Close window
  7. Review Recurring Journal Entries (If needed)
    1. Navigate to Accounting > GL > Recurring Journal Entries
    2. Delete and Reenter any Journal Entries not using the correct Cost Center