Cost Center Ledger
WinCAMS’ Cost Center Ledger is used to create a customized Chart of Accounts (by Fund or Org Code) that is used to track Expenditures for cost categories such as Construction (e.g. Roads, Bridges, Bike Paths, etc.) and Maintenance (e.g. Snow Removal, Patching, etc.).
Chart of Accounts
The format the Cost Center Code is flexible and may include multiple elements. Most commonly the Cost Center Code consists of:
- Fund No or Org Code (also, Budget Unit / Division, etc.)
- Major Category: identifies major grouping of cost codes such as Administration, Road Construction, Road Maintenance, Reimbursables, Labor Clearing, etc.
- Sub-Account: identifies a more detailed breakdown of each Major Category into e.g. Labor, Equipment Usage, Applied Road Overhead, Materials / Purchases, etc.
Cost Center Types
The following transactions types are recognized as valid Cost Center Types:
- Labor – Labor charges using Applied Labor Rates
- Equipment – Equipment Usage charges using Equipment Usage Rates
- Inventoried Material charges using Average Unit Cost
- Vendor Materials using actual Vendor Cost
- Overhead – Overhead charges using Overhead Percentage(s)
- Other – Vendor charges for various purchases, utilities, etc.
- Government Contracts – Contract charges from other Government Agencies
- Non-Government Contracts – Contract charges from all private Companies
Cost Center Charges
WinCAMS processes the following charges (expenditures) in the Cost Center Ledger:
- Applied Charges
- Inventoried Materials
- Direct Charges
- Vendor Materials
At any time during a Fiscal Year this module is used to track, monitor, analyze and distribute Variance amounts (Variance = difference between Applied Charges and Actual Charges).