Difference between revisions of "Profit Center"

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=====Profit Center Record List=====
 
=====Profit Center Record List=====
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Revision as of 15:06, 2 March 2022

Profit Center

Profit Center Maintenance module allows the users to create a Profit Center for accounts in order to manage their costs and revenues whenever creating a transaction.

Requirements before using Profit Center
Profit Center Record List
Maintenance - Profit Center - Record List.png


Notes:

Adding Profit Center
  1. Go to Maintenance then click Profit Center
  2. Click Add Profit Center Button
  3. Fill up the necessary fields. Please make sure that all tabs are filled out then click Save.
Maintenance - Profit Center - Add.png


Field Description Expected Values
1.Profit Center Code •Assigned Code for Profit Center •Alphanumeric
2.Proft Center Name •Name of Profit Center corresponds to its code •Alphanumeric
3.Owner •The assigned owner of the Profit Center •Active User List under Users Maintenance Module
4.Prepared By: •The user created the Profit Center Record •Current user creating the Profit Center(Auto-Generated)
5.Description •Additional Remarks in the Profit Center •Alphanumeric
6.Account •Accounts to be included under Profit Center •Active Account List under Chart of Account Maintenance Module
7.Account Class •Account Class category of the Account •Account Class List under Account Class Maintenance Module(Auto-Generated)
8.FS Presentation •The Financial Statement Representation of the Account
•FS Presentation under Chart of Account Module(Auto-Generated)

Notes:

  • Profit Center Code is a unique field. It cannot be edited once created.
  • Only Income Statement Account FS Presentation are accepted in Profit Center.
Editing Profit Center
  1. Go to Maintenance then click Profit Center
  2. Select the Profit Center that needs an update. Click the drop-down arrow then click Edit
  3. Update the necessary Fields and Click Save
Maintenance - Profit Center - Edit.png


Field Description Expected Values
1.Proft Center Name •Name of Profit Center corresponds to its code •Alphanumeric
2.Owner •The assigned owner of the Profit Center •Active User List under Users Maintenance Module
3.Prepared By: •The user created the Profit Center Record •Current user creating the Profit Center(Auto-Generated)
4.Description •Additional Remarks in the Profit Center •Alphanumeric
5.Account •Accounts to be included under Profit Center •Active Account List under Chart of Account Maintenance Module
6.Account Class •Account Class category of the Account •Account Class List under Account Class Maintenance Module(Auto-Generated)
7.FS Presentation •The Financial Statement Representation of the Account •FS Presentation under Chart of Account Module(Auto-Generated)

Notes:

  • The user cannot edit the Profit Center once the record is used in a transaction.
Importing and Exporting Profit Center

1. Under Profit Center, Click Options

2. Under Options, The user may Export or Import The Record

  • When Exporting the records, the user may also use the filter options through tabs for precise searching and exporting of records.
Maintenance - Profit Center - Export.png


  • When Importing the records, the user should follow the following steps provided in the Importing Profit Center Screen such as
    • Downloading the template link provided under Step 1.
    • Filling up the information needed for each columns of the template
    • Uploading the updated Template
Maintenance - Profit Center - Import.png


Proforma Import Details
Field Description Allowed Inputs Input Restrictions Required Field?
1.Profit Center Code Manual Entry for Profit Center Code *Alphanumeric

*Underscore "_"

*Other Special Characters not mentioned Yes
2.Profit Center Name Manual entry of Profit Center Name *Alphanumeric

*Special Characters and Space

*None Yes
3.Description Manual Entry of Profit Center Description *Alphanumeric *None No
4.Owner(Username) Manual entry of User or Owner *Username List under Users Maintenance Module *Any input not mentioned in the allowed inputs No
5.Account Code Manual Entry of Account *Account Code based from Chart of Account Maintenance Module *Other special characters not mentioned Yes
Activating Profit Center Record

Profit Center can be Activated in two ways:

  • Using drop-down arrow of a record can be used in single record Activation
Maintenance - Profit Center - Activate1.png


  • Using Activate Button for activating multiple record
Maintenance - Profit Center - Activate2.png


Deactivating Profit Center Record

Profit Center can be deactivated in two ways:

  • Using drop-down arrow of a record can be used in single record deactivation
Maintenance - Profit Center - Deactivate1.png


  • Using Deactivate Button for deactivating multiple record
Maintenance - Profit Center - Deactivate2.png


Deleting Profit Center Record

Profit Center can be deleted in two ways:

  • Using drop-down arrow of a record can be used in single record deletion
Maintenance - Profit Center - Delete1.png


  • Using Delete Button for deleting multiple record
Maintenance - Profit Center - Delete2.png


Profit Center Record Options
Actions Available base on Profit Record Status
Status View Edit Deactivate Activate Delete
ACTIVE
INACTIVE

Notes:

  • User can edit the details of the record while viewing the record.
  • The user cannot edit or delete a Profit Center once used in the transaction
  • Profit Center can be used as long as its status is ACTIVE
    • Past Transactions that has Inactive Profit Center can still be used prior to its deactivation.
  • Activating/Deactivating and Deleting of Records can be done in two ways.
    • For single records, the user may use the drop down arrow then the action that need to perform.
    • For multiple records, the user may tick the records then click the action button that need to perform
      • Click the Yes in the confirmation to proceed on the action taken.
Applying Profit Center
  1. The user may apply a Profit Center under Accounting Details when creating or editing Disbursement Voucher, Accounts Payable or Accounts Receivable

Notes:

  • The Profit Center can only be used if its status is ACTIVE
  • A warning will prompt if the user use an account that is not part of the Profit Center selected.
Categories:
Modules
Maintenance Maintenance | Account Class | Chart of Account | Users | Users Group
Financials Accounts Payable | Accounts Receivable | Disbursement Voucher