Configuring Cost Centers

A Cost Center is an entity within an organisation used to track expenses and financial activities related to a specific function, department, or project. It helps with monitoring costs, budgeting, and financial reporting without directly generating revenue. 

Cost Centers can be linked to Financial Transactions to analyse expenses efficiently. 

The Manage Cost Centers console contains the list of Cost Centers configured in BMC Helix Portfolio Management and provides functionality to add, remove or modify the Cost Centers. This console is accessible to the user with the Financial Master role.  

To access the Manage Cost Centers console

1. Log in to BMC Helix Portfolio Management and click Settings .  
2. Select Financial Management.  
3. Go to Cost Centers. The console will have the list of Cost Centers, if they have already been created.  

To create a Cost Centers

1. Log in to BMC Helix Portfolio Management and click Settings . 
2. Select Financial Management > Cost Centers. 
3. To add a new Cost Center, click  +New and provide the following details:  

Field	Description
Company	The name of the company associated with the Cost Center. This field is non-editable and is set while creating the user account.
Cost Center Code	A numeric or alphanumeric code used for referencing the Cost Center.
Short Description	A brief explanation of the Cost Center’s purpose or function.
Status	Indicates the status of the Cost Center. Select out of the four options below:  Proposed  Active  Inactive  Obsolete

4. Click Save.  

To modify or edit a Cost Center

1. Log in to BMC Helix Portfolio Management and click Settings . 
2. Select Financial Management > Cost Centers. 
3. Click on the name of the Cost Center or select the row and click Edit. This will show you the details that you provided while creating the Cost Centers. 
4. Modify the details and click Save.  

To delete a Cost Center

1. Log in to BMC Helix Portfolio Management  and click Settings . 
2. Select Financial Management > Cost Centers. 
3. Select the Cost Center and click Delete.