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Cost Centre

A department or unit that costs are collected against for accountability.

Area
Accounting
Also known as
department code, cost code
In this area
51 terms of 257

A cost centre is a bucket that accumulates the costs of a team, site or function so someone can be held responsible for them. Every expense is coded to one alongside its account code.

Cost centres answer "who spent this", while account codes answer "on what". Both dimensions are needed before budget accountability means anything.

Related terms

Chart of Accounts

COA

The structured list of accounts transactions can be posted to.

Budget Variance

The difference between budgeted and actual figures for a period.

Job Costing

Accumulating cost against a specific job, project or order.

Expense Claim

A staff request for reimbursement of costs paid personally.

More in Accounting

Accounts Payable (AP) Accounts Receivable (AR) Accrual Accounting Accrued Expense Aging Report Bad Debt Provision Balance Sheet Bank Reconciliation

Cost Centre is not just a definition here

Accounting runs on this vocabulary every day in AWRA OpsHub — 51 of our 257 glossary terms describe things the platform actually does.

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