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This article applies to:

  • Product: ONESOURCE Fringe Benefits Tax
  • Subject: Setup

Cost Centres

Cost centres are useful for reporting. FBT and related taxable values can be aggregated in several ways for different purposes. There are 2 typical aggregation types, cost centres and standard categories. Although cost centres are not mandatory, they can be useful in allocating FBT costs back to various groups in your organisation.
note
If you think using cost centres would be beneficial, you should set them now before going further in the return creation process. It is possible to add cost centres later, but updating existing employees or FBT benefits with cost centre details can be difficult.
Cost centres can be entered at the employee workpaper level as a default cost centre. This will automatically become the default cost centre used when a benefit is added for that employee.
note
The retrospective change to existing cost centres can only be made using manual data entry in the Employee workpaper, not from uploading. Uploading new default employee cost centres only changes the default cost centre for new benefits added for this employee from this time forward (prospective change).

Add a Cost Centre

  1. Select
    Administration
     >
    Cost Centres
     on the navigation bar.
  2. Click into the first blank row.
  3. Type the new code in the
    Cost Centre Code
     column. The cost centre code does not support hyphens.
  4. Type a description in the
    Cost Centre Description
     column.
  5. To save your data, click anywhere outside the row.
note
Cost centres can also be uploaded using the
Upload
 feature.

Update a Cost Centre

  1. Select
    Administration
    , then
    Cost Centres
     on the navigation bar.
  2. In the list, double-click the cost centre you want to change. The edit icon appears.
  3. Enter the updated cost centre information in the fields provided. The cost centre code does not support hyphens.
  4. To save your data, click anywhere outside the row.

Amend an Employee's default Cost Centre

The employee's default cost centre is used in benefit workpapers when no other cost centre is uploaded or added manually. There are instances where an employee's cost centre can change during an FBT year. A change in an employee’s default cost centre can be ‘pushed down’ to existing benefits, or used as the new default for benefits they receive from this time forward.
If you amend the cost centre of an employee, a validation message asks you to make a choice on what is to happen next.
  • Select
    Yes
     to change the default cost centre for all benefits added from this time forward (prospective change).
  • Select
    No
     to change all the existing cost centre selections in all benefits this employee has received to the new cost centre (retrospective change).
You must refresh any open benefit workpapers following this change.