Overview
Cost Codes, Department Codes and Project Codes make up the Costing Breakdown and these can be used to allocate the cost of employee expenses to specific cost centres, in accordance with your organisation's accountancy, analysis and project management systems. This provides you with the flexibility to allow your claimants to select where their expenses should be allocated, ideal for those who hold roles in different departments or work across multiple projects. Should you wish to administer this within your team, employees can be provided with default codes which their expenses will automatically be allocated to.
Depending on your organisation's preferences, you can display any combination of the three costing breakdown fields on the Add Expense page. These fields allow a claimant to select the appropriate codes from the lists and specify the percentage allocation of the costing breakdown.
Specific codes can also be configured to sign off groups as part of the approval process.
Benefits
- Cost Allocation and Approval - Specific cost allocation, allowing claims to be sent to appropriate sign off group approvers.
- Comprehensive Accountancy - Facilitates the classification of costs for accounting records and budget provision.
- Maintainable Administrative Efficiency - The configuration of cost, department and project codes is easy to maintain, reducing the administrative burden by automating the process of allocating expenses.
- Auditable Information - Historical record of cost breakdown and progress, offering greater transparency and accuracy in financial reporting.
- Extensive Analysis - Enables the utilisation of comparison analytics and forecasting tools for future projects.
Features
| Feature | Description |
|---|---|
| Create costing breakdown | Add cost codes, department codes and project codes |
| Configure general options | Configure costing breakdown display and general options |
| Configure employee breakdown | Set default costing breakdown for individual employees |
| Expense breakdown selection | Allow claimants to modify breakdown when adding an expense |
| Assign signoff groups | Allocate costing breakdown elements to signoff groups |
Implementation
- For an administrator to fully configure costing breakdown within your system, they will require the following permissions on their Access Role:
- Base information (Cost Codes, Project Codes, Departments)
- Tailoring (General Options)
- User Management (Employees)
- To add a cost code, department code or project code, navigate from the homepage to Administrative Settings | Base Information and select either Cost Codes, Projects, or Departments.
- To configure the costing breakdown general options, navigate from the homepage to Administrative Settings | Tailoring | General Options and then click 'New Expenses'.
- To configure an employee's default costing breakdown, navigate from the homepage to Administrative Settings | User Management | Employees and then click on the 'Work' tab.
