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Creating Custom Cost Centres for your Venue


iVvy offers default cost centres for you to report on your revenues.
These are:

  • Accommodation
  • Audio Visual
  • Beverage
  • Food
  • Room Hire
  • Other


Custom cost centres allows you to create your own cost centres in the system to break down your reporting into smaller portions where necessary. You can create a cost centre which is a sub cost centre of one of the default cost centres, or create your own by assigning it to the “other” cost centre.

You can create a global level cost centre, which will automatically appear in all of your venues (given you have multiple venues) or you can set up a venue specific cost centre that will only appear in a particular venue so you can have different cost centres per venue if for any reason you need to. 

As an example, you may wish to create your own costs centre “restaurant” as a sub cost centre of your “Accommodation” cost centre. If you were to create an “Additional Room Item” called “Breakfast” for your rooms and allocate it to your “Restaurant” cost centre, it would then separate your accommodation costs and breakfast costs in your reporting so you could see the revenue for them individually.

When the pricing for particular items is included, then obviously there is no individual cost associated with them in a booking so a cost centre will not be allocated. This will only apply and appear to you as an option on items that have individual pricing set that are applied to a cost centre.

This reasoning applies to all of the cost centres in the system.

To create a cost centre at a global level

  1. Navigate to Settings 
  2. Navigate to General > Cost Centres
  3. Click "Add Cost Centre"
  4. Give the cost centre a code
  5. Give the cost centre a Name
  6. If applicable, give an internal description for your cost centre. 
  7. Click save

 


To create a cost centre at a venue level:

  1. Navigate to Venue Setup > Cost Centres
  2. Select “Add Cost Centre”
  3. Assign to: This is the main category your new cost centre will be a subcategory to
  4. Code: Add in your internal code for your cost centre
  5. Give your cost centre a name
  6. You can give your cost centre a description.
  7. Select Save


To use your cost centre in a booking

  1. Edit the booking in question
  2. If you are using a sub category of room hire, then on the first tab, you will be able to change your cost centre for “Space Hire Price” if there is a cost associated. If there is no cost associated, then obviously there will be no need to allocate a cost centre.
  3. Else:
  4. Navigate to the relevant tab (e.g. if its food or beverage, or a resource you would edit the relevant session, if its accommodation, you would navigate to your room reservations tab)
  5. Edit the relevant item, (such as the menu or beverage package)
  6. And select the relevant cost centre from the drop down provided.


Reporting:
If you wish to see the revenue breakdown for your cost centres they can be found in the “Booking and Quote Forecast”.

To view your report

  1. Navigate to: Reports
  2. View “Bookings and Quote Forecast”
  3. By default all of your cost centres should show up, however if one you are looking for doesn’t, or you only wish to look at certain cost centres, then you can select “set columns” in the top right hand corner of your screen and select the appropriate cost centres to view. 
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