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As an organisation, revenue generated from storing, handling, and transporting product is often coded to specific General Ledger accounts, and likely categorised into specific Cost Centres, too.
As an organisation, revenue generated from storing, handling, and transporting product is often coded to specific General Ledger accounts, and likely categorised into specific Cost Centres, too.
With an Enterprise subscription, Consignly offers you Revenue Accounts and Cost Centres: a feature set that allows you to do more with each transaction you raise.
Revenue Accounts are those General Ledger accounts that report income of the business into different categories.
For example, as a 3PL operation, you may categorise your revenue into Activity, Packaging, and Storage.
A Cost Centre is a department or function within an organisation to which costs can be allocated. This may include non-revenue producing areas such as Finance or Administration functions.
At its core, this categorisation of charges into Revenue Accounts and Cost Centres allows for a deeper understanding of your organisation. You can analyse how different departments are performing, and determine the profitability of different parts of your organisation.
For accounting packages such as Xero, this means revenue generated from different types of activity may flow through to different Sales Accounts. Furthermore, Tracking Categories may be used to further categorise revenue by division or cost centre.
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