Cost Center Management - Overview
RingCentral's Cost Center Management allows Administrators to create a hierarchical structure of billing codes that reflect their organization by department and/or location as well as RingCentral account, and allocate incurred expenses across that structure as a way to better understand and assign cost.
IMPORTANT: This feature is disabled by default. You need to contact your RingCentral Account Manager to have this feature enabled on your RingCentral account.
Features & Benefits
• Allow to create codes for groups of users, departments or locations. Each transaction activity can be assigned to a specific group for better budget control.
• Flexible in billing management; create code on the fly; change or reassign codes anytime.
• Save time with easy bulk upload with predefined codes.
• A nationwide car dealer has multiple offices. Each regional location is responsible for its profits and expenses. The company has set up cost center codes for each department in each location to track expenses.
• The Admin creates the Cost Center hierarchy for each department that maps the company’s accounting system. For example, COL-X291 for Sales, COL-X292 for Marketing, COL-X293 for Services, etc. in Columbia office.
• When the Columbia office requests to purchase 3 desk phones and additional subscription for new sales, the admin will enter the proper cost center code (e.g. COL-X294) for this transaction.
• At the month end, Accounting is able to book the expenses in the right department at the right location.
Cost Center Management - Add a New Cost Center Code
Cost Center Management - View Billing Items
Cost Center Management - Upload a Template to update all Billing items
Cost Center Management - Move a Billing Item to a Different Cost Center
Cost Center Management - Frequently Asked Questions