How are cost centers used in Mews?

What is a cost center?

 

Cost centers, in accounting, are the places where the revenue is generated. In Mews, they are like mapping codes that help match data gathered in the system, or via outlets, to the correct accounting categories for reporting purposes. For example, you can have a cost center for your bar, a different one for your restaurant, and another one for your spa.

 

 

Where can I set up my cost centers?

In Mews, you can fill in the cost center codes in each accounting category. Cost centers are not generated by integrations, you need to decide and fill in the name or code you wish to use to identify each of them.

 

Which name should I use for my cost centers?

 

Mews recommends that you use the codes your accountant or accounting system is using, to make reconciliation easier. When using accounting integrations, cost centers are optional, unlike external codes which are mandatory.

 

 

What are the benefits of using cost centers?

 

Cost centers can be particularly useful when tracking your outlets' revenue. For information on how to set up outlets, check this article: Set up outlets