Use the Transactions KS01, KS02 and KS03 for Create, Change and Display Cost Center Master data. A Cost Center is created at the request of the party responsible for the Cost Center. The reason for such a request could be a change in management reporting requirements.
The Cost Center is used to collect costs and is distinguished by area of responsibility or accounting method.
A Cost Center master record must contain the following information: basic data, a long text description, and classic system data entries made in the Address and Communications dialog boxes.
Accounting >> Controlling >> Cost Center Accounting >> Master Data >> Cost Center >> Individual Processing > Create (KS01)
Then you will see the following initial screen for creating a Cost Center
Enter the relevant entries in the following fields:
- Cost Center - Enter a name for the cost Center* *(usually there is a naming convention setup
- Valid From - Enter the desired start date of when you want the Cost Center to be used*
- Valid To - Enter the date to which the Cost Center will prevent further postings to it. Setting the date to 31.12.9999 means you do not plan to stop using the cost Center.
**Just note that the Valid To date can be changed at a later stage should you need to E.g. the cost Center is no longer needed in one years' time as which stage you can change the valid to date to a date in that year.
- Reference: This section means you can enter another cost Center from any selected controlling area and the new cost Center being created will automatically have all the same attributes as the one you choose to copy.
- Cost Center: Enter the Cost Center number which you would like similar attributes for your new Cost Center. You can always change the copied attributes once the KS01 transaction is executed but it saves time to have most of the fields automatically filled.
- Controlling Area: Simply select the controlling area to which the cost Center you wish to copy from is assigned to.
Now once all data has been entered then Click the Master Data button ( ) or hit the 'Enter/Return' key on your keyboard.