What is a Cost Centre?

A Cost Centre’s main purpose is to track your expenses, and through expense segmentation, it allows for better control and analysis of total costs. It can be any defined group where management can benefit from isolating the cost of the group. For example, a cost centre may include all expenses related to a specific quality improvement project, grant award, or job position.

How to use Payboy’s Cost Centre?

In short, users can create cost centres using the top right hand corner button of the Cost Centre page, and assign employees by selecting the employees and submitting.

Should the video be insufficient, you can follow the step-by-step detail below:

  1. It can be found under the Company module. (Side Nav Bar > Company > Cost Centre)

  2. At the Cost Centre page, there is a “Add New Cost Centre” button at the top right corner of the page. Click on it, and you will be able to create new cost centres and assign employees to it.

3. Once submitted, the new cost centre will appear in the Cost Centre page.

What modules are used together with Cost Centre?

  1. Firstly, CLAIMS module - Claims can now be submitted under a Cost Centre of choice, to clearly indicate where the cost should belong to.

    Step 1 - Go to Claim Type > Edit each claim type > Enable Cost Centre (Repeat this step for each claim type that you want to be able to submit under a cost centre.)

Step 2 - Go to Claims > New Claim (Single/Group) > Select your claim and if “Enable Cost Centre” was checked in the earlier step, there should be a Cost Centre field

(should be pre-filled with the employee’s cost centre if they have already been assigned to one).

You are also able to select another cost centre should the situation calls for it.

Step 3 - The claim details page will show which cost centre the claim was submitted under.

Steps 2 and 3 will be applicable in the Staff Portal as well.

2. Secondly, REPORTS module - 2 new columns are added into the reports, which are “Cost Centre Name” and “Cost Centre Code”. This allows users (e.g HR or Managers) to be able to identify/group the cost centres accordingly. Additionally, they are able to filter the reports according to cost centres, such that only those under specific Cost Centre(s) will be downloaded in the reports.

Step 1 - Side Nav Bar > Reports > Employees / Claims / Payroll (These are the 3 reports where the new cost centre columns have been added to.) > Generate report

Step 2 - Before generating the report, there is a new filter (Cost Centre) to filter out which employees you want to see. For example, if Cost Centre 1 is selected, employees under Cost Centre 2 will not be in the report you download.

Step 3 - For users who do not want to use our default report templates, you can customise your own report template. Now, you can customise if you want to have the cost centre columns in the 3 specific reports (Employees, Claims, Payroll) mentioned.

When filtered by Cost Centre, Employee and Payroll REPORTS will filter according to people in their assigned Cost Centre(s).

*However, for Claim Report, even if an employee were to belong in Cost Centre 3, if you filter it to Cost Centre 1, it might still show up in the report because a claim for that employee was submitted under Cost Centre 1.*

3. Thirdly, it is the PAYROLL module - As you generate your payrolls, you can download them in your reports as well.

Step 1 - Generate your payroll as per normal.

Step 2 - Head to Reports > Payroll > Generate report. There will be the Cost Centre Code and Name columns, for easier access in case users want to identify the cost centres immediately. This way, the cost centre is already in the payroll report, and users do not have to create additional columns themselves or download the Employee/Claims Reports.

Feel free to contact us if you face any difficulties through the support chat icon on the bottom right of the screen or email support@payboy.biz. We will get back to you within 3 working days.

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