A cost centre is a unit within your company used for allocating costs for accounting purposes, aligned with the cost centres in your financial system. It serves as a code where employee-related expenses, such as salary and other costs, are assigned.
Key points to note:
Cost centre codes integrate with your Financial Management System (FMS).
Each employee is assigned a cost centre corresponding to their contract when set up in HR.
PeopleXD allows for configuring additional or alternative cost centres to allocate employees' costs.
The system enables flexibility in cost allocation. For example, if a marketing executive temporarily covers for a sales executive, the company can reassign the employee’s costs to the sales department for that period.
Cost centres are assigned to employee contracts in People Management, either through
People Management user guides
Cost Allocations
From the dashboard menu, select People Management.
Click Employees then click View Dashboard.
Click Cost Allocations.
Cost Centre screen
On this screen, you can have many cost centres to which you want to assign an employee's cost or salary. You can choose to configure a cost centre for each department.
To access the Cost Centre screen, follow the steps below in Portal.
Click Settings then under General Ledger Costing, click Cost Centres.
The following fields are displayed:
Cost Centre: Value of the cost centre code.
Activity: Description of the cost centre code.
Client Reference
Subhead
Active Indicator
BIK Indicator
Grant access to menu option
To provide an employee access to the Cost Centre screen in the Settings tab, follow the steps below in portal.
From the dashboard menu, select Security Dashboard.
Click Menu Profiles.
In the search field, search for the menu profile assigned to the user applying filter e.g PAY_MASTER
Click the three-dot icon then select Manage Menu Options.
To filter the systems, click the filter
icon.
From the Filter By System dropdown menu, select CorePortal Pay.
Click Apply.
In the search field, search for Settings – Cost Centre menu option.
Enable the toggle for the menu option above.
Add cost centre
To add a new cost centre, follow the steps below in portal.
Click Settings then under General Ledger Costing, click Cost Centres.
Click Add Cost Centre.
In the Cost Centre Code field, enter the unique cost code(Maximum 13 characters).
In the Cost Centre Description field, add a description for the unique code.
The following fields are optional:
Activity Code
Client Reference(Maximum 13 Characters).
Sub Heading
Click OK.
To activate a cost centre, enable the Active Indicator toggle.
To mark the cost centre as BIK, enable the BIK Indicator toggle.
Edit cost centre
To edit a cost centre, follow the steps below in Portal.
From the dashboard menu, select Payroll Dashboard.
Under General Ledger Costing, click Cost Centres.
Beside the relevant cost centre, click the three-dot icon.
Click Edit then update the relevant data.
Click OK then to activate a cost centre, enable the Active Indicator toggle.
To mark the cost centre as BIK, enable the BIK Indicator toggle.
Disable cost centre
To disable a cost centre, follow the steps below in Portal.
Click Settings then under General Ledger Costing, click Cost Centres.
To deactivate a cost centre, disable the Active Indicator toggle.
To deactivate the cost centre as BIK, disable the BIK Indicator toggle.