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Cost Element

What is Cost Element in Businessflo​

In Businessflo, a Cost Element refers to a categorization or classification of costs incurred within an organization. It helps businesses track and analyze their expenses by providing a structured framework for organizing and reporting on different types of costs. The Cost Element feature in Businessflo enables users to define and manage various cost categories, such as direct costs, indirect costs, overhead costs, and other expense classifications specific to their business needs. By effectively utilizing Cost Elements, businesses can gain better visibility into their cost structure and make informed decisions regarding resource allocation, budgeting, and financial planning.

How to Create a Cost Element in Businessflo​

  • Module: AR - Accounts Receivable
  • Process Code: ARCE - Cost Element

There are two options available to navigate to this screen.

  • Click on Accounts Receivable -> Cost Element -> Cost Element
  • Write the process code for this screen in the search bar which will navigate you here directly.

The list shows the Cost Elements already being created in the system. Now either you can click on new button to create a new Cost Element or you can select from the list of corresponding Cost Elements to view, edit or delete it.

Process​

cost-element

After filling the header fields, click on Create.

Basic Data Tab​

You must fill these fields also.

Now click on Save to save the information provided.