Profit Centers Overview

Profit Centers are located under Sub Accounts.

Profit Centers may be used to classify accounting information for reporting and distribution purposes.  The use of Profit Centers allows the firm to track accounting activity by arbitrary groupings or divisions.  These groupings or divisions may represent administrative areas such as offices or departments or functional activity such as areas of practice or Timekeeper activity.  

Profit Center Accounting

In Firm Options, the option to Distribute to G/L Profit Centers based on Office Codes can be chosen. This option is applicable to Income and Adjustment Accounts only.

If selected:

• Profit Centers must be defined in Profit Center maintenance.
• G/L Account numbers in Chart of Accounts maintenance includes Profit Center ID's.
• Profit Center Codes are assigned to Offices (otherwise this option remains disabled).
• Office Codes are assigned to Client/Matters (otherwise this option remains disabled).