Cost Centres will allow program administrators to assign access to Workspace funds via a cost centre budget. By assigning budgets on the cost centre level, Workspace 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: Tao, Alex and Imram are assigned to the Sales cost centre. The Sales cost centre budget is $300 per month.
All cost centres are withdrawn from the Workspace funds. To prevent an individual from spending all $300 from their cost centre within a month, all Workspace 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 Centres
1. Navigate to Workspaces > Manage Funds > Set up Cost Centre Budgets. Here, you will be guided through downloading and submitting a CSV.
2. Your team just needs to decide a formula for setting cost centre budgets (e.g. # employees in cost centre).
3. Re-upload a list to override Cost Centre settings.
Accessing Cost Centre Information
You can determine the cost centre associated with an outgoing order using the Guusto Reports page. Here's how:
1. Navigate to Workspace > Reports > Gift Order History.
2. In the Gift Order History section, scroll to the far-right column to view the cost centre information for each order. This is particularly helpful when verifying the budget origin of a specific gift or order in your workspace.
Customize Permissions
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 Workspaces > 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: To switch cost centres during the gifting process, follow these steps:
1. Go to the Send Gifts page.
2. Click on the available funds drop-down menu.
3. Locate the cost centre drop-down menu and select the desired cost centre.
Member CC only: Workspace Members can only send gifts from their own assigned Cost Centres
Any CC managed by Member: Workspace Members may send gifts from all Cost Centres below them. This will require you to set up a Reporting Structure.
Any CC in the Workspace: Workspace Members can send gifts from any Cost Center
Permissions Explained
Permissions for switching cost centres can vary:
Member CC Only: Members can use only the cost centre assigned to their profile.
Any CC Managed by Member: Members can use cost centres that they manage, provided a reporting structure is pre-configured by the administrator.
All CC: Members have the ability to choose any cost centre available across the organization.
FAQ
What is the difference between individual budgets and Cost Centres?
Cost centres are more trackable and transparent than assigning individual budgets. It makes budget adjustments a breeze to organize members by cost centres.
What can I use Cost Centres for?
Assign Workspace Members to cost centres by department, position, or location. It is helpful for large organizations to organize and monitor spending activity.
What’s the difference between Cost Centres and Workspace Funds?
Workspace funds indicate how much you have in your Workspace balance account. Cost centres is a budgeting tool for allocating funds to your Workspace Members.
What happens when I change Cost Centres?
The Workspace Member's budget would automatically change to new cost centre budget.
What are other methods to provide budgets to Workspace Members?
Why can't I access this feature?
Cost Centres are restricted to Enterprise accounts. Contact us to upgrade your account!