Keeping a cost code accurate ensures salary costs export to the correct budget in payroll and that your payroll control journal totals reflect the right departmental spend. Update a cost code when a post moves to a different cost centre or budget area. A cost code links payroll costs to a specific budget or department and is assigned at the post leave meaning all employees in that post share the same cost code.
⚠️Warning: Amending a cost code on a post will affect all employees who currently sit in that post. Once the cost code has been updated, notify your payroll executive of the change.
To change a cost code, follow the below steps:
Open the employee post and click Cost Code on the left-hand menu.
Click Edit, then click Add Cost Code in the upper right.
Enter an effective date, then click Add Cost Code again.
Enter a description and a cost code.
Enter the cost code percentage and click Save.