This guide covers the management of cost objects in Netvisor. Open the view by selecting Financial Management > Settings > Cost Object Management.

Netvisor has a multidimensional cost object calculation system, where a financial transaction, income, or expense can be recorded on multiple parallel main levels, for which sub-levels to be monitored are created. The structure can be hierarchical. This allows the creation of a cost object calculation matrix that particularly serves the needs of a company's internal accounting.  A cost object in Netvisor is a function used for tracking and reporting. Cost objects include, for example:

  • cost centers
  • dimensions
  • projects
  • initiatives
  • industries

The name field of the cost object is alphanumeric. You can use numbers, letters, or combinations of these as the name.

Cost object calculation is available in all modules:

  • sales invoices
  • purchase invoices
  • vouchers
  • time tracking
  • payroll

On the cost object page, there is a selection for the cost object header and pagination to retrieve a reasonable amount of cost objects at once.

  • Pagination is automatically displayed when there are more than 1000 cost objects.
  • Otherwise, pagination is displayed when a cost object header is selected.

Rights to add cost objects:

  • Add cost object headers and actual cost objects only if you have editing rights to basic accounting functions.
  • If you are only intended to view cost objects, add read rights to basic accounting functions.

Add a new header:

Creating a cost object starts with creating a header. The system has dynamic and hierarchical cost object calculation, where you can first create cost object calculation headers. The titles of these headers are visible in voucher and purchase invoice entries. Headers are based on alphabetical order. There can be multiple headers in parallel, but it is recommended to use two or three headers, which usually achieve sufficient target tracking. 

  • Make sure you have editing rights to basic accounting functions.
  • Open Financial Management > Settings > Cost Object Management.
  • Add a new header to the cost object list (headers are sorted in alphabetical order).
  • Plan the headers so that you generally use two or three parallel headers for target tracking.

Cost objects can be given a default object, allowing the cost object to be set either behind the customer or the product (a header alone is not enough, there must be an actual cost object under this header).

  • If you select "not in use", you must always select the cost object manually.
  • Enable the default object in Sales Basic Information by selecting Line Item Specific as the option for Sales Invoice Default Cost Objects.

Show hidden:

Used cost objects can be hidden, making them no longer available in transaction entries, but still reportable. The cost object does not disappear from an existing voucher, but it cannot be selected for a new voucher until the cost object is active again. 

Hiding a cost object requires at least the following rights:

  • Editing rights to basic reporting on the accounting side.
  • Editing rights to basic accounting functions.
  • Editing rights to cost object management.

Hide a cost object as follows:

  1. Open Financial Management > Settings > Cost Object Management.
  2. Select the rows you want to hide from the Hidden column.
  3. Save the visibility status with the button at the bottom of the page.
  4. Retrieve hidden rows with the Show hidden link at the top of the page.

Functions:

New cost object:

New cost objects can be added from the Add new object icon in the Function column (first icon).

  1. Open Financial Management > Settings > Cost Object Management.
  2. Add a new object from the Add new object icon in the Function column:
    • If you add the object from the header row, Netvisor creates the cost object under the header.
    • If you want a hierarchical structure and a sub-object, create a new object from an existing cost object row.

Editing:

Information can be edited from the Edit icon in the Function column (middle icon). The names of object headers and their sub-levels can be changed, and it does not affect accounting. In the view, you can also move the object under the same header. A cost object cannot be moved under another header. Editing a cost object requires editing rights to basic accounting functions.

  1. Make sure you have editing rights to basic accounting functions.
  2. Open Financial Management > Settings > Cost Object Management.
  3. Select the cost object to be edited and click the Edit icon in the Function column (middle icon).
  4. Change the name of the object header or sub-level if necessary (the change does not affect accounting).
  5. Move the object under the same header if necessary. Do not try to move the object under another header, as this is not possible.

Deletion:

To delete a cost object or header level, it must not be in use on any voucher or invoice. Additionally, check that the cost object is not bound to a customer or product. Once all these connections are removed, the cost object can be deleted normally.

Mass addition of cost objects:

Mass addition of cost objects cannot be done directly in Netvisor in cost object management, but cost objects can only be added there one by one.

  • Import cost objects with data import, for example with a memo voucher, which is invalidated from accounting after the import. The imported cost objects remain in Netvisor.
  • With data import, you cannot import cost objects hierarchically, so edit the hierarchies in Netvisor in cost object management.
  • In data import, cost objects go to the top level, and you must manually edit their hierarchies to the desired structure.

If the object has been used extensively or its usage locations are difficult to find, hide the object from view. You can also rename the object so that an object created at the wrong level can be reused in the correct place in the hierarchy.

When a cost object is being deleted, check its current usage in the following places:

  • voucher lines
  • product group, customer group, product, customer, sales invoice line, vendor
  • purchase invoices

Deleting a cost object requires at least the following rights:

  • Editing rights to basic reporting on the accounting side.
  • Editing rights to basic accounting functions.
  • Editing rights to cost object management.

Moving:

The order of objects at the same level can be varied with the icons on the left side of the row. A cost object cannot be moved under another header.

  1. Open Financial Management > Settings > Cost Object Management.
  2. Select the cost object to be moved.
  3. Change the order of objects at the same level with the icons on the left side of the row.
  4. Do not try to move the cost object under another header, as this is not possible.

Hierarchical cost object entries:

When the cost object structure is hierarchical, entries recorded at level 3 are summed upwards in the hierarchy to the levels above it. If an entry is made to a cost object that is at the lowest level of the hierarchy, it is also visible at all its higher levels in reporting, even if the entry has not been directly made to them.

Frequently asked questions

Where can I find cost object management in Netvisor?

Open the view by selecting Financial Management > Settings > Cost Object Management.

What rights do I need to add or edit cost objects?

You need editing rights to basic accounting functions. Hiding and deleting a cost object additionally require editing rights to basic reporting on the accounting side and editing rights to cost object management.

How do I add a new cost object header and cost object?

First add a header in cost object management. Then add a new cost object from the Add new object icon in the Function column, either from the header row (under the header) or from an existing cost object row (sub-object in the hierarchy).

How do I hide a cost object so that it cannot be used on new vouchers?

In cost object management, select the rows to be hidden from the Hidden column and save the visibility status. A hidden object is not available for new entries, but it is still visible on reports and existing vouchers.

How can I delete a cost object?

Make sure that the cost object is not in use on voucher lines, in product groups, customer groups, products, customers, sales invoice lines, vendors, or purchase invoices, and that it is not bound to a customer or product. When all connections have been removed and you have the required rights, delete the cost object in cost object management.

Can I import cost objects in bulk into Netvisor?

You cannot perform mass addition directly in cost object management. You can import cost objects with data import, for example with a memo voucher that is invalidated after the import. The imported objects go to the top level, and the hierarchies are edited manually in cost object management.

How do hierarchical cost objects affect reporting?

In a hierarchical structure, entries made at the lowest level are automatically summed to the higher levels and are visible in reporting at all higher levels.

Keywords: Cost object, deleting cost object, cost center, adding cost center, cost object calculation

This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.