Cost Centres

Ostendo uses the concept of Cost Centres to record costs from all areas of the product.  These Cost Centres are user-defined and are directly linked to a General Ledger Account Code in the 3rd-Party Accounting system.  

 

A simple Account Mapping facility is available that enables Ostendo's Cost Centres to be referenced to GL Account Codes in the Accounting system

 

For the User who requires a more in-depth breakdown of Sales than an additional routine for further mapping is also available. This is called the Sales Mapping Matrix. File -> Financial Configuration -> Sales Mapping Matrix

 

Finally, for those Users who have created detailed Labour Account Code breakdown an Advanced Mapping’ function is available to enable this to be carried out. This is called the Labour Mapping Matrix. File -> Financial Configuration -> Labour Mapping Matrix

 


Cost Centre Groups

 

Cost Centres can be grouped into logical areas.  These relate to the Cost Areas such as


•

Asset

•

Liability

•

Income

•

Expense

•

Cost of Sale

•

Bank

•

etc

 

Cost Centre Groups are User-defined.

 



Cost Centre Maintenance

 

The following fields are available for creating and maintaining Cost Centres.


Cost Centre Code: A meaningful code that describes which costs are contained against this Code


       Description: Extended description of the Cost Centre


Restrict Cost Centre to Mapping Only: This option removes the Cost Centre from any Cost Centre Lookups within Ostendo. This is used to hide System Costs Centres eg: DEBTORS, CREDITORS etc.. that you do not which to make available for Ostendo users to select either deliberately or by mistake.


       Group: (Optional) The Cost Centre Group to which this Cost Centre belongs


Accounting System Ledger Code: Mandatory if Ostendo is linked to 3rd Party Accounting software NOT using the Ostendo Link Program eg: Xero, QBO or MYOB AR Live Cloud or Desktop. This Ledger code is the actual GL code from the Accounting Software you are integrating to.

(NB: If Simplified Posting is enabled, the PURCHASE RECEIPTS Cost Centre should be mapped to a COGS GL Account in the Accounting Software)


Financial Category: (Optional) This is used when integrating with 3rd Party Accounting Software like Xero or MYOB

  • For Xero, this is the Xero Tracking Code that is passed to Xero with the financial transaction
  • For MYOB AR Live, this is the MYOB Job Number that is passed to MYOB with the financial transaction
  • For QBO, this is the QBO Class that is passed to QBO with the financial transaction