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cost centres versus contracts [message #295551] Tue, 22 January 2008 12:37 Go to next message
Ferry
Messages: 3
Registered: December 2007
Location: The Netherlands
Junior Member
Hello,

I am struggeling a bit with the term "cost centre" and "contract".In our company we of couse make use of cost centres in order book Purchase Orders and Web ADI's etc. In my opinion, a cost centre is the same as a contract (technically). According to some users, a cost centre is used for internal costs such as overhead and a contract is used for cost charged to customers. Both are created in Oracle the same way and appear in the same table (General Ledger, Key Flexfield Values). Is anyone familiar with the term "contract" in this context? I only believe this term is made up by financial users in order to speak easier about internal and external costs.

greetings, Ferry
Re: cost centres versus contracts [message #352669 is a reply to message #295551] Wed, 08 October 2008 21:43 Go to previous message
djp1976
Messages: 15
Registered: September 2007
Junior Member
In our company the term contract has a couple different meanings.

1. We have Contracts for service which are used for maintenance coverage on the products that we sell and service.

2. We also use Contracts as the initial deal that is set up between the company and customer.

3. Cost Center is simply a code that is used for charge, allocation, etc.
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