---
sourceDocument: Xanadu Strategic Portfolio Management
sourceDocumentLink: https://www.servicenow.com/docs/r/xanadu/it-business-management

 Release :

    - xanadu

ft:locale :

    - en-US

ft:publication_title :

    - Xanadu Strategic Portfolio Management

ft:clusterId :

    - itbm

bundleId :

    - itbm

workflow :

    - Technology


---

# Create or update cost centers

# Create or update cost centers {#ariaid-title1}

* Release version: Xanadu
* 
* Updated August 1, 2024
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

Define a new cost center or update the details of the existing cost
centers.

## Before you begin

Role required: financial_mgmt_admin

## Procedure

1. Navigate to AllCostConfigCost Center.
2. Select a cost center record to edit or select New to create one.
3. On the form, fill in the fields.  
   {#c_ManageCostCenters__table_anp_pm1_nsb__entry__2}

   | Field | Description |
   |-|-|
   | Name | Name of the cost center. |
   | Manager | Manager of this cost center. |
   | Account number | Account number for this cost center. |
   | Valid from | Date this cost center is valid from. Select a date using the calendar option. |
   | Code | Code assigned to this cost center. |
   | Valid to | Date this cost center is valid up to. Select a date using the calendar option. |
   | Location | Location of this cost center. Select one using the lookup option. |
   | Parent | Parent cost center, if any. Select one using the lookup option. |
   [Table 1. Cost Center form]

   {#c_ManageCostCenters__table_anp_pm1_nsb}
4. Select Submit.

## What to do next

Review the related lists for this cost center and update them as necessary. See [Cost centers related records](https://www.servicenow.com/docs/hUIaQVQPPHOWwTebQikt7Q "Cost centers are related to additional records, displayed as related lists on its form.").
**Related concepts**   

* [Budgets and cost centers](https://www.servicenow.com/docs/JY_D0WZbz8mAK8IjaGnhig "Understand what budgets and cost centers are and how to manage them in the Cost Management application.")

*[\>]: and then