Departments
Departments and cost centres
This module enables you to distribute your company’s income and expenses, budget figures, turnover statistics and balances at department or cost centre level in order to assess the profitability of each department.
The module is called ‘Departments’ and appears on the ‘Settings’ tab.
Find out how to access and create your departments or cost centres in E-conomic in the video below:
Details about the fields Note that not all fields are mandatory.
| No. | Enter the desired number |
| Name | Enter the desired name. Note that the name can facilitate using the correct distribution key when booking entries, e.g., 33/33/33 if this is the distribution of this key |
| Dept. | Select existing or create new department |
| % | Enter each department’s share of expenses/income. The sum must be 100% |
To set up the module:
- Create departments
- Create distribution keys
- Link the above to the chart of accounts
To create a department:
- Click ‘Settings’ > ‘System setup’ > ‘Departments’
- Click ‘New department’
- Enter the desired name and number
- Click ‘OK’
To create a distribution key:
These keys distribute your company’s expenses and income to various departments when entries are booked. Learn how to add distribution keys, to distribute expenses and income.
Expenses and income are distributed to the various departments when you book expense entries and create customer invoices.
If the account has been linked to a distribution key, a distribution key will be suggested.
Creating department budgets
Department budget are created in the chart of accounts by entering the budget figures for individual operating and balance sheet accounts.
Related topics: Chart of accounts.To enter budget figures for an account. Print the budget or a period total comparing budget figures with realised figures.
Financial overview
To print balances, key figures, budgets, ledger cards and turnover statistics for each department, see the Report tab.
To print reports for departments, simply select the department(s) you want to print information about.