---
title: Create or update cost centers
description: Define a new cost center or update the details of the existing cost centers.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/cost-management/c\_ManageCostCenters.html
release: australia
product: Cost Management
classification: cost-management
topic_type: task
last_updated: "2026-03-12"
reading_time_minutes: 1
breadcrumb: [Budgets and cost centers, Cost Management, Strategic Portfolio Management]
---

# Create or update cost centers

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 **All** > **Cost** > **Config** > **Cost Center**.

2.  Select a cost center record to edit or select **New** to create one.

3.  On the form, fill in the fields.

    |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.|

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://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/cost-management/c_CostCentersRelatedRecords.md).

**Parent Topic:**[Budgets and cost centers](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/cost-management/c_BudgetsAndCostCenters.md)

**Related topics**  


[Budgets and cost centers](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/cost-management/c_BudgetsAndCostCenters.md)