Financial management set up

Financial management set up

Financial management can be set up easily in very few steps. Set up involves creating Cost centers, Profit centers and Suppliers.

Cost centers

A cost center is a team or function within a business that does not directly add to profit but still costs business money to operate.

After Log in was successful, click Solutions -> Financial management to start setting up.

  1. Click Cost centers from the side menu and click Define from the right corner of the screen. Image alt

  2. Type in the name of your cost center (team name in most cases), it’s manager, default expense type and an identifier for reporting purposes. Click Define button from the bottom of the form. Image alt

  3. Now you can click Cost centers from the left menu to view your newly added cost center any time. Image alt

Profit centers

A profit center is a branch or division of a business that directly adds or is expected to add to the entire business’s bottom line.

  1. Click Profit centers from the side menu and click Add from the right corner of the screen. Image alt

  2. Type in the name of your profit center (team name in most cases), it’s manager and an identifier for reporting purposes. Click Define button from the bottom of the form. Image alt

  3. Now you can click Profit centers from the left menu to view your newly added profit center any time. Image alt

Suppliers

Supplier is a business that supplies you with products and services.

  1. Click Suppliers from the side menu and click Add from the right corner of the screen. Image alt

  2. Type in the name of your supplier and upload an image for users to see while they are referring to this supplier. Click Add button from the bottom of the form. Image alt

  3. Now you can click Suppliers from the left menu to view your newly added supplier any time. Image alt

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