Profit Centres

Owned by Former user (Deleted)
Last updated: May 02, 2019 by Workbench (Unlicensed)

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Profit Centres are used for:

  • Security over access to Jobs within a Profit Centre
  • As a selection option when reporting
  • As a source of default General Ledger Coding


Code/Description
Use codes that will be meaningful in record search functions and reports.

Manager
Select the appropriate person from the People table. This data is used in Timesheet Approvals and Reporting.

Timesheet Approval
Check this box if you require Timesheet approval for this Profit Centre.

Location
Every Profit Centre must belong to a Location to enable 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.

Branch Code
This is used in the interface for posting transactions to appropriate branches.

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

Job Suffix
This is an ASCII field that can optionally be used in the custom development of job numbering routines.

Profit Centre GL Prefix
Define your account prefix 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

Profit Centre GL Suffix
Define your account suffix 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
Workbench has 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 on the Activity of each PO line and a single provision account defined under the Control Parameters.
The Control Parameters also defines whether the accrual is based on the Purchase Order value or the value of receipted goods not yet invoiced.

Report Codes
These user defined codes enable Profit Centres to be grouped under various categories for reporting purposes.

Sequence Numbers
These values will take priority over the sequence numbers maintained in Locations.