Cost Centre Settings

Purpose: The Cost Centre Settings in Time & Attendance allow organisations to define and manage cost centres for financial tracking, reporting, and invoicing. By associating shifts, timesheets, and allowances with specific cost centres, organisations can allocate expenses accurately and ensure compliance with financial policies.

Key Features and Configurations

Cost Centre Creation

• Description: Create cost centres to categorise expenses for reporting and billing purposes.

• Examples:

  • NDIS Services

  • Transport

  • Administration

• Purpose: Organises financial data and supports granular reporting for different departments or services.

Integration with Payroll Systems

• Description: Cost centres can be synced with payroll systems like Xero to ensure accurate invoicing and payroll allocations.

• Purpose: Streamlines financial processes by automating the transfer of cost centre data.

Assignment to Shifts and Timesheets

• Description: Assign cost centres directly to shifts, timesheets, or allowances for precise cost allocation.

• Purpose: Ensures transparency and accuracy in financial records.

How to Configure Cost Centres

Accessing Cost Centre Settings:

• Navigate to Time & Attendance > Settings from the side navigation menu.

• Select Cost Centres.

Step-by-Step Instructions

• Create a New Cost Centre:

  • Select Create.

  • Enter the following details:

    • Name: A descriptive name for the cost centre (e.g., "NDIS Transport").

    • Description: Additional context for its purpose, if needed.

  • Click Save.

• Edit an Existing Cost Centre:

  • Locate the cost centre in the list.

  • Select Edit.

  • Update the name or description as required.

  • Click Save.

• Delete a Cost Centre:

  • Locate the cost centre in the list.

  • Select Delete.

  • Confirm and click Save.

• Assign Cost Centres to Shifts:

  • Navigate to the Roster page.

  • Edit a shift and select the relevant cost centre from the dropdown menu.

  • Save the shift.

• Link Cost Centres to Payroll Systems:

  • Navigate to Time & Attendance > Settings > API Settings.

  • Map cost centres to corresponding accounts in MYOB or Xero.

  • Click Save.

Practical Applications

1. Financial Reporting:

   • Use cost centres to generate detailed financial reports by department or service type.

2. NDIS Compliance:

   • Allocate expenses to specific NDIS service types for accurate billing and audits.

3. Budget Management:

   • Track spending across different organisational areas to ensure budget adherence.

Warnings and Best Practices

• Consistency: Ensure all shifts and timesheets are assigned to the correct cost centres to avoid discrepancies in reporting.

• Integration Testing: Test payroll system integrations to verify accurate data transfer.

• Regular Updates: Review and update cost centres periodically to reflect changes in organisational structure or services.

Troubleshooting

• Issue: Cost centres not appearing in the roster dropdown.

  • Solution: Check that the cost centre is active and saved correctly.

• Issue: Incorrect cost centre data in payroll systems.

  • Solution: Verify the API mappings and re-sync data if necessary.

• Issue: Duplicate cost centres in the list.

  • Solution: Merge or delete redundant entries to maintain accuracy.

Practical Example

An organisation provides both Transport and NDIS Home Care Services. By assigning shifts and expenses to these respective cost centres, they can generate detailed financial reports, ensuring compliance with funding requirements and maintaining clarity in internal budgeting.