In Parsimony.com, cost centers are used to track the expenses and revenues of different departments or segments of a business. By assigning transactions to specific cost centers, businesses can get a better understanding of where their money is going and how it is being used.
The Chart of Cost Centers is a list of all the cost centers that have been created within Parsimony.com. This list includes the name of the cost center, its parent cost center (if it has one), and any child cost centers that have been created under it.
In this lesson, you will learn how to navigate and use the Chart of Cost Centers within Parsimony.com. You will learn how to add, edit, and delete cost centers, as well as how to assign transactions to specific cost centers. Additionally, you will learn how to use the Chart of Cost Centers to generate reports that show the expenses and revenues of different cost centers over a given period of time.
By the end of this lesson, you will have a thorough understanding of how to use cost centers in Parsimony.com to better track your business’s finances and gain valuable insights into your company’s performance.