Accounting Dimensions

Dimensional accounting means tagging each transaction with appropriate dimensions like Branch, Business Unit, etc..

Cost Center and Project are treated as dimensions by default.

1.Cost Center

A Cost Center is a part of an organization where costs or income can be charged.

A Cost Center acts like an Accounting Dimension which helps you track costing based on particular areas.

The Cost Center can be set at these levels:

1. Company
2. Item
3. Order/Invoice

The Cost Center can be linked to the following transactions:

1. Sales Invoice
2. Purchase Invoice
3. Journal Entry
4. Delivery Note

To access the Chart of Cost Centers, go to:

Home > Accounting > Budget and Cost Center > Chart of Cost Centers

1.1 How to set up the cost center

1. Go to the Cost center and add new
2. Enter the cost center name.
3. Enter the Parent cost center.
4. Save

2.Project

A Project is a planned piece of work that is designed to find information about something, to produce something new, or to improve something.

To access Projects, go to:

Home > Projects > Projects > Project

1. How to Create a Project

1. Go to the Project list and click on New.
2. Add the following details:
3. Project Name: Title of the Project.
4. Status: The default status of a Project is going to be 'Open' which can later be changed to 'Completed' or 'Cancelled'.
5. Expected End Date: Enter the date on which you aim to finish the project.
6. Save.

2. Features

2.1. Customer Details, Users and Notes

1. Customer: If a Project is being carried out for a particular Customer, the details can be fed in here.

2.2. Start and End Dates

1. Actual Start Date: The Actual Start of the project, tracked via Timesheets, the Actual Start Date and Time of the Project will get recorded automatically.
2. Actual End Date: The Actual End of the project, tracked via the last update of the Timesheet, the Actual End Date and Time of the Project will get recorded automatically.

2.3. Costing and Billing

We will be able to know the Estimated Cost,Total Sales Amount,Total Costing Amount,Total Billable Amount,Total Expense Claim,Total Billed Amount and Total Purchase Cost.

3.Related Topics

1. Journal Entry
2. Sales Order
3. Sales Invoice
4. Purchase Order
5. Purchase Invoice
6. Delivery Note
7. Time Sheet
8. Expense Claim