A profit center is an object in the controlling area used to track and report revenues. Every cost center, internal order, and project will be assigned to a profit center. Profit centers allow for the creation of reports that combine the activities of cost centers, internal orders, and projects. In this sense, profit centers are equivalent to department numbers in the Classic Chart of Accounts. If a cost center, internal order, or project is not assigned to a profit center, the financial data collected will be assigned to a dummy profit center.
Profit center Enter the profit center to be changed.
The Set Controlling Area Dialog Box appears if you have not previously set the controlling area. If this dialog box appears, set the controlling area. Controlling area Enter MIT for the controlling area. MIT is the only established controlling area for the entire Institute. To change the name of the profit center, enter a new name.