Configuring Cost Centers in Settings Follow
Cost center assignment in system budgeting is a quick and easy process. Establishing these cost centers is a simple way to organize budgets and sort through reporting on your platform budgets.
NOTE: The cost center feature in the Awardco platform is used exclusively to generate data for the Cost Center Distribution report. This report shows the current balance in all budgets assigned to each cost center. If you are looking to track department spend, assign budget access, or use cost centers in any other way, contact your Awardco Client Success Manager to discuss configuring metadata in your user file.
Building Cost Centers
To begin, navigate to the cost center tab in the settings of the admin section. Cost centers must be created in the platform before you will be able to assign individual budgets to these cost centers.
Next, click "Add Cost Center" and in the pop-up window, enter the information for your new cost center. We always recommend including an ID number.
Repeat this step as many times as you like to create the cost centers you need. With a cost center now created, you are ready to assign budgets to the cost center.
For more information on budget configuration, visit our article on Managing Budgets.
If you have more questions, please tell us how we can improve and clarify this topic by commenting below. You can also submit a Support Ticket for more assistance.