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Account Settings - Setting Up Cost Centers

Please Note that this Help Guide reflects release 2024.05.

 

Requirement:  You must be setup as an Admin to access the Account Settings

Account Settings – Setting Up General Ledger Cost Centers

As an Admin user, you may need to set up General Ledger Cost Centers in iLeasePro. The Cost Centers offer you the ability to track and report on your financial and operational lease data.

By setting up the Cost Centers, you can link the Cost Centers to any general ledger account within a lease. Once linked to a lease, these Cost Centers will be included in the journal entries that are created or exported for the lease.

 

Cost Centers

iLeasePro includes eight Cost Centers to select from. The Cost Centers you can apply are;

  • Location
  • Department
  • Employee
  • Project
  • Customer
  • Vendor
  • Item
  • Class

Setting Up Cost Centers 

To add a new Cost Centers, click on the Admin link in the main sidebar menu as shown below. Then select the Cost Centers tab to begin setting up Cost Centers.  

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Select the Cost Center to enter data into from the drop down list.  In our example, we have selected to add location entry to the Location Cost Center.  Select the Location Cost Center as shown below.

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Click on the Add New button to add the details to the Cost Center

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Enter the  Code and Description for the entry and Click the Save button to store the Cost Center entries.  Continue to click Add New to add entries.

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Editing Cost Centers

A Cost Center Code or Description can be changed by clicking on the Edit button (the pencil).

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To edit a Cost Center entry, click on the Edit button to unlock the Cost Center Code and Description. Make the changes required and click on the Save button. In the example below, we changed the Cost Center Description from Massachusetts Branches to New Hampshire Branches.

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Removing Cost Center Entries

A Cost Center entry can be removed from an account by clicking on the Delete button (the trash can). To delete a Cost Center, click on the Delete button. A message box will appear asking you to confirm the delete action. To continue, click on OK or to cancel the delete action, click on Cancel.

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Note: Cost Center entries that have been linked to a lease cannot be deleted.  You will receive a pop message box indicating that the entry is linked to a lease or multiple leases.  

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To help you find the leases that encountered this conflict, you can use the Lease Cost Center Report found in the Report Center.iLease_Pro___HMS_Bank___Trust.png

 

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2024.05

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