Add and edit cost centres
Find this screen
Open: Settings > Cash Book / Nominal Ledger > Cost Centres.
How to
Add a cost centre (fund)
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Click Add.
- Enter a unique three character Code for the cost centre.
- Enter the Name of the cost centre.
- Enter the contact details.
- When you have finished, click OK.
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Click Add.
- Enter a unique three character Code.
- Enter the Name of the fund.
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Select the Fund Type to specify how the fund can be used: Unrestricted, Restricted, Restricted Fixed Asset, Endowment.
For Academies - Used to report the income and expenditure of funds on the SOFA report
- Enter the Institution, Contact name and Contact Details. For your information only.
- When you have finished, click OK.
Note: We provide a few example funds to get your started, such as Pupil Premium (PP). You can edit or delete these if you want.
Delete a cost centre (fund)
- To delete a cost centre
You can't delete a cost centre
- The cost centre
- You are editing the cost centre
Useful info
When to use cost centres (funds)
In Sage 200, cost centres are additional codes that you can add to profit and loss nominal accounts to subdivide your income and expenses. Each nominal account has the same Code but different cost centres. For example, if you have several branch offices and you want to be able to produce a P & L for each office as well as one for the whole business, you could create a cost centre for each branch office. You then make sure that every profit and loss nominal account also using an account with the cost centre for each branch.
When you enter transactions, these are posted to the nominal account associated with this cost centre. When you produce your P & L, it reports the total of all accounts with the same code.
Tip: As all these nominal accounts are reporting the same thing, they should also have the same Report Category.
Cost centres represent your funds. You append each fund cost centre code to any nominal accounts which will be used to record the income and expenditure of funds. This is likely to be the majority of your income and expense ( P & L) accounts. The balance of each nominal account with a cost centre and SOFA category is included on the SOFA report. Each figure on the SOFA report comes from the balance all accounts with the same cost centre Fund Type and SOFA category.
Your balance sheet nominal accounts will not need to be related to a fund, so these accounts don't need to have cost centres.
How to create nominal accounts for your cost centres (funds)
Each nominal account Code, CC and Dept combination is a separate nominal account. There are four ways you can create new nominal accounts using a new CC or Dept.
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Import your accounts. This is quickest way to create new nominal accounts. As long as you have created your cost centres and department codes, you can import account using a CSV file.
Open: Import Records > Nominal > Import Ledger File.
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Create a new single nominal account using the Dept. Use this method if you just want to a small number of new accounts.
Open: Nominal > Create & Amend Accounts > Create New Nominal Account.
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Create accounts with the new CC or Dept for an existing account code. Use this when you already have a nominal accounts using a particular code and you want to add the CC and/or Dept. For example, you already have an account code of 6000, and want to add CC codes A, B and C and Dept codes of X. Y and Z. This will create all the accounts with the required combinations.
Open: Nominal > Create & Amend Nominal Accounts > Generate New Nominal Accounts.
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Create a range of nominal accounts and a new CC or Dept. Use this when you want to duplicate an existing range of accounts for a new CC and/or Dept. This also creates a code. For example, you have a range of existing nominal accounts using LON (CC) ADM (Dept) and you want to duplicate this for MAN SAL.
Open: Nominal > Create & Amend Nominal Accounts > Create Accounts for Cost Centre and Department