11/15/18 20:41 PM  

Cost Center Management - Overview | RingCentral

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SummaryThis article provides information about RingCentral's Cost Center Management. RingCentral's Cost Center Management enables account Administrators to assign purchases of RingCentral services to a Department or an individual based on Cost Center Codes, which will help companies manage and monitor the expenses for cost control and budget planning.
Details

 

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.
 

Example

• 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. 

 

Related Articles 

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 

 

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