Overview of cost centres

Overview

The cost centre feature in TaxLab enables organisations to track and report benefit costs by department, team, or project. By default, benefits are allocated to the cost centre assigned to each employee. However, this allocation can be overridden for specific benefits if required.

Assign employees to cost centres

Employees can be assigned to cost centres either manually, or by using the FBT import template with the corresponding employee information. 

Once an employee is assigned to a cost centre, any benefits linked to that employee going forward will automatically inherit the same cost centre. 

Assign benefits to different cost centres

When a benefit is manually entered or imported with a cost centre that differs from the one assigned to the employee, the system will associate two separate cost centres with that employee. 

This is useful if you want to charge specific benefits to a different cost centre - for example, if an employee is assigned to cost centre 1000, but a particular benefit should be charged to 4000.

Push cost centres

When an employee’s cost centre changes and previously entered benefits need to be updated to reflect this change, the Push Cost Centres feature can be used.

Cost centres can be pushed to benefits in two ways—either to individual benefits within a category or to all benefits across multiple categories.

How to push cost centres to specific benefits within a category

1. From the entity's FBT return, in the navigation bar select Workpapers > Benefits.
2. Select the relevant Quarter tab.
3. Select the benefit category that contains the benefits to update.
4. Select the checkboxes next to the relevant benefits.
5. Select the Push Cost Centres button.

How to push cost centres across multiple benefit categories

1. From the Benefits screen, select the relevant Quarter tab.
2. Select the checkboxes next to the benefit categories to update.
3. Select the Push Cost Centres button.

View the cost centre report

The Cost Centre report shows a breakdown of benefit values by cost centre. It includes both the default cost centres assigned to employees and any alternative cost centres applied directly to individual benefits.

1. From the entity's FBT return, in the navigation bar select Reports > Cost Centre Reporting.

Related articles

Add or edit an employee

Add or import benefits