Overview:

As an integral part of the Work Breakdown structure, profit centres (PCs) sit under Locations and Financial Companies. They provide security over access to Jobs within the PC, they add another filter option for reporting, and are a potential source for General Ledger (GL) coding.

Screen Guide:

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• Code is a meaningful shorthand for the PC.

• Description is the long description for the PC.

• Manager allows you to elect the appropriate person from the People table for use in Timesheet Approvals and Reporting.

• Timesheet Approval can be checked if you require Timesheet Approval for this Profit Centre.

• Location Code is required for every Profit Centre, enabling the system to apply the appropriate Location defaults based on the Profit Centre of an individual User. These defaults include Document Sequence Numbers, Batch Numbers, Letterhead and filters on Company record searches. Note that defaults in the Profit Centre take precedence over the Location.

• Financial Company: This is used to define the financial company where there is more than one financial company in use.

• Export Code is used with financial systems integration.

• Job Suffix is an ASCII field that can optionally be used to customise the end of job coding based on the PC, in addition to the Job Template used.

• GL Prefix: Define your account prefix (beginning) e.g. AK.01. This is typically the Branch / Department structure inherent in most GL account codes, and assumes the normal convention where the Branch / Department structure appears before the account number in the GL Code structure. This Prefix will be added to the GL Account Number typically derived from Sales Codes or Activity Codes.

• GL Suffix: Define your account suffix (ending) e.g. AK.01. This is typically the Branch / Department structure inherent in most GL account codes, but the use of the suffix allows the convention where the Branch / Department structure appears after the account number in the GL Code structure. Note that typically one or other of the Suffix and Prefix would normally be blank. This Suffix will be added to the GL Account Number typically derived from Sales Codes or Activity Codes.

• GL PO Accrual gives the option to create a General Ledger accrual journal based on the outstanding value of Purchase Orders or Goods Receipted & Not Invoiced. Separate Expense (DR) and Provision (CR) accounts by Profit Centre can be used if required. The standard interface assumes the expense account (DR GL) on the Activity of each PO line and a single provision account defined under the Control Parameter. The Control Parameter "PO Accrual by Receipts" also defines whether the accrual is based on the Purchase Order value or the value of receipted goods not yet invoiced.

• Report Codes are user-defined codes that enable Profit Centres to be grouped under various categories for reporting purposes. This is a legacy MDE feature for backwards compatibility only.

Next Steps:

Once your Profit Centres are created, you can assign them to Profit Centre Groups that are then applied to Users.