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What is the best practice in correcting the cost center in the Department record

Hi Experts,
We want to know the best practice and impact of correcting the cost center in Department record. We changed the effective date of the department to the default date 1.1.1951. The first record (1951) does not have the correct cost center. Do we just click that record and change the cost center and what impact it has on expenditures. Thanks.

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