Go to Administration-- > Company Settings--> Company Tab--> Cost Centers--> Click on the Add New button.
On clicking on the Add New button, a popup will appear on the screen prompting you to fill up the details in the form.
Enter the cost center name in the "Cost Center" field.
After entering the cost center name, click on the "Save" button to save the department details.
On clicking on the button, a message appears prompting you that the cost center is successfully added and you can view the newly added cost center in the cost center's list.