Cost Centres will allow program administrators to assign access to team funds via a cost centre budget. By assigning budgets on the cost centre level, team members will be tethered to a cost centre budget instead of an individual budget. This budget can be used by a single member or shared amongst other privileged members of the cost centre.
Example: Dwight, Jim, and Pam are assigned to the Sales cost centre. The Sales cost centre budget is $300 per month.
All cost centres are withdrawn from the team funds. To prevent an individual from spending all $300 from their cost centre within a month, all team members from this cost centre are restricted by individual monthly budgets of $100. At the end of the month, all budgets will expire and renew.
Set up Cost Centers
Navigate to Teams > Manage Funds > Set up Cost Center Budgets. Here, you will be guided through downloading and submitting a CSV.
Your team just needs to decide a formula for setting cost center budgets (e.g. # employees in cost center).
Re-upload a list to override Cost Center settings.
Privileged users may use budgets from their own Cost Centre or another Cost Centre. This may be useful for Managers who are responsible for sending gifts on behalf of various departments.
Navigate to Teams > Manage Members > your desired member. Navigate to Cost Centre ID (CC) and click on Customize. The drop down menu will adjust which CC they use to send gifts from:
Member CC only: Team Members can only send gifts from their own assigned Cost Centers
Any CC managed by Member: Team Members may send gifts from all Cost Centers below them. This will require you to set up a Reporting Structure.
Any CC in the Team: Team Members can send gifts from any Cost Center
What is the difference between individual budgets and Cost Centers?
Cost centres are more trackable and transparent than assigning individual budgets. It makes budget adjustments a breeze to organize members by cost centers.
What can I use Cost Centers for?
Assign team members to cost centers by department, position, or location. It is helpful for large organizations to organize and monitor spending activity.
What’s the difference between Cost Centers and Team Funds?
Team funds indicate how much you have in your team balance account. Cost centres is a budgeting tool for allocating funds to your team members.
What happens when I change Cost Centers?
The Team Member's budget would automatically change to new cost center budget.
What are other methods to provide budgets to Team Members?
Why can't I access this feature?
Cost Centers are restricted to Enterprise accounts. Contact us to upgrade your account!