A Cost Centre's primary purpose is to monitor company expenses. By segmenting these costs, it enables better control and analysis of overall spending. It helps categorize and manage expenses more efficiently, serving as a defined group where management can benefit from isolating costs.
Cost Centres can also be assigned during the Outlet and Pay Item Type creation. When you generate the payroll report, a dedicated Cost Centre column will appear, and it will be easier for users to quickly identify and reference the associated cost centres.
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How to Create a New Cost Centre
Head to Settings from the navigation bar
Click Cost Centres under SG Payroll
Click +New to create a new Cost Centre
Put the name of the Cost Centre and Assign company(s)*
Click Submit to save it.
How to Assign Cost Centre to Employee
Go to the side navigation menu > Employees > Click the three-dot icon > Select Edit for a specific employee
Head to the Employment Details tab
Scroll down and click +Add Cost Centre
Enter the required details
Click Submit
Awesome, you’re all set to manage your expenses more effectively with cost centres!
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