CenterPoint Fund Accounting - Understanding And Using Profit Centers/Departments

Payroll Profit Centers/Locations - Duration: 10 min 24 sec

Document #:	3001	Product:	CenterPoint®

Profit centers/Departments describe the various areas or divisions of your operation that generate income. It can also be used for department tracking. Profit center/Department detail is for analysis purposes, it does not affect tax information. When you look at the profit/loss of your operation for any given time span, profit centers/departments give you the power to pinpoint the status of each specific part of your operation.

In CenterPoint Payroll, a profit center/department can be used in a pay run and you can print the General Ledger Account Activity General Ledger Summary report to get a labor, tax and benefit breakdown by profit center.

Profit centers/Departments detail is optional in CenterPoint. Your management needs define the use of profit center/department and can be added into your data at any time.

A profit center/department is not assigned to an account, but instead the profit center/department can be assigned to each line of any transaction, using any account.

Create a Profit Center/Department

Edit/Change an Existing Profit Center/Department

Delete an Existing Profit CenterDepartment

Change the Status (Activate/Deactivate) of an Existing Profit Center/Department

Combine Two Existing Profit Centers/Departments

Create a Profit Center/Department

On the Setup menu, point to Proft/Production Centers or Departments/Locations, and then click Profit Center or Department.
Click New.

Note: If you would like to create a new item by copying an existing one, highlight the profit center/department to copy from and click Copy. If the copy option is used, all fields listed below will auto-filled with the information from the original profit center/department, but can be modified.

In the Abbreviation box, enter up to ten characters of optional information that you can use to easily identify the profit center/department by (for example, C for Corn or T for Trucking).
In the Name box, enter up to 30 characters of required information that describes the profit center/department.
In the Type box, click and select the type of profit center/department.

Note: To set a profit center/department type as the default, right-click and select Set As Default. To clear the default profit center/department type, right-click and select Clear Default.

To add notes to this profit center/department, click Additional Notes, enter the notes, and then click OK.

Note: To add a time stamp to a note added or edited on the Additional Notes screen, click Stamp. If you are adding/editing a stamp in a database without security, the stamp will display "Edited on (current date and time)". If you are adding/editing a stamp in a database with security, the stamp will display "Edited by (username) on (current date and time)".

Click Save to save the profit center/department and return to the List tab, or click Close to save the profit center/department and close the profit center/department screen.

Edit/Change an Existing Profit Center/Department

All information on an existing profit center/department can be modified. All history and balances will stay with the profit center/department.

On the Setup menu, point to Proft/Production Centers or Departments/Locations, and then click Profit Center or Department.
Select the profit center/department to be changed and click Edit (or simply double click on the appropriate profit center/department. Edit the details as needed.
Click Save to save the profit center/department and return to the List tab, or click Close to save the profit center/department and close the profit center/department screen.

Note: To return to the List tab without saving the profit center/department, click Cancel.

Delete an Existing Profit Center/Department

The Delete button completely removes a profit center/department from the system. Note: You cannot delete a record that has any type of history or other records linked to it in the system. If you have a profit center/department that is no longer being used, but does have historical activity, please refer to the instructions below on how to change the status to inactive.

On the Setup menu, point to Proft/Production Centers or Departments/Locations, and then click Profit Center or Department.
Select the profit center/department to be deleted and click Delete.
At the Are you sure you want the item delete? message, click Yes.

Change the Status of an Existing Profit Center/Department

Profit centers/Departmentsthat are no longer being used, but have history, can be deactivated. On transaction screens, the list of profit centers/departments will only include active profit centers/departments. Filters can be created in reports, lists, etc. to only include active profit center/departments.

On the Setup menu, point to Proft/Production Centers or Departments/Locations, and then click Profit Center or Department.
Right-click on the appropriate profit center/department, and select Activate or Deactivate.

Combine Two Existing Profit Centers/Departments

The Combine button allows you to combine two existing profit centers/departments. For example, if the same profit center/department was inadvertently setup twice and both used on transactions. The Combine button allows you to combine all history and balances for the two profit centers/departments and removal of one of the profit centers/departments. Note: We recommend you take a backup prior to combining two items as there is not a way to "uncombine" two items.

On the Setup menu, point to Proft/Production Centers or Departments/Locations, and then click Profit Center or Department.
Select the profit center/deparment to be changed and click Combine. The profit center/deparment selected in this step is the item that will be removed after the two profit centerr/deparments are combined.
In the Combine screen, select the profit center/deparment it should be combined into and click OK.