Cost Categories

Cost categories are used to provide a better understanding of where and how money is being spent. They are used when forecasting costs for an entity and when tracking costs for that entity.

• Cost categories are used in a number of places within the platform:

  1. The financial summary entity, to forecast and track actuals

  2. In financial dashboards and reports

  3. On the resource profile when calculating labour cost from resource effort.

• The platform comes with a seeded list of cost categories which are:

  1. Hardware

  2. Software

  3. Employee

  4. Contractor

  5. Perm - Other

  6. Training

• . The seeded values can be deleted, deactivated or amended as required.

• To determine the full list of where the Cost Categories list is used, open the managed list as described below and click on the Used By tab. Refer to Managed Lists for further details.

• Cost categories are maintained as a managed list

• Managed lists can be accessed from the Administration Workbench. From the menu, select Admin Center under the Administration section.

• From the administration workbench, select Manage LIsts from the Master Data section.

• Identify and click on the managed list CORE - Cost Category

• Refer to Managed Lists for further details about editing the list.