Budgets and cost centers

  • Release version: Xanadu
  • Updated August 1, 2024
  • 1 minute to read
  • Understand what budgets and cost centers are and how to manage them in the Cost Management application.

    Budgets

    Budgets allow tracking of planned and actual spending. Budgets are defined for a given time period for one or more cost centers.

    Cost centers

    Cost Centers are used to represent a business entity. All expense allocations assigned to the budget's cost center during the budget period are used to calculate the budget's actual expense allocations.

    It is also possible to assign a cost center to a budget from the cost center record. The cost center record contains a budgets related list.