Definition
A cost center represents a focus of economic activity, like a particular summer camp or afterschool program. Typically, a cost center will have its own set of GL codes to designate its economic transactions. That is, in fact, the rule of thumb for creating a new cost center: if two similar activities (like tuition charges for two different summer camp programs) will be coded differently in your general ledger, then two separate cost centers will be needed. These cases often arise because of locations in different states, locations geared to different clienteles (age range, adults/youth, individuals/groups), or different types of events (summer camp, afterschool programs, conferences, retreats, etc.)
Examples
- Youth Primary Camps
- Youth Middle School Camps
- MyCamp Michigan
- MyCamp Indiana
- Leafy Green Summer Camps
- Leafy Green Conferences
- Youth Retreats
- Adult Retreats
Configuration
CampLink > Configuration > Cost Centers > [Specific Cost Center]