We are a research company, basing our activity on contracts with various public institutions.
One of the contractual responsibilities we need to obey is the separate, distinct evidence of all operations generated by each contract.
In order to have this distinction, we decided to use an integrated function of WizCount – the cost centers. This is a truly beneficial feature, as we have reduced the number of analytical accounts. By using the defined cost centers, I didn’t have to use analytical accounts for each income or expense element.
Another advantage of using cost centers is given by the possibility to generate specific reports (balance sheet on cost centers, profit & loss on cost centers, etc.), which gives me a clear and detailed image and helps me identify and solve potential issues before they perpetuate, a precise analysis on every activity for each contract, as well as a full, correct view of the entire activity in our company.