Cost Center in Tally Prime Notes

Cost Center in Tally Prime : Step by Step Training Notes with sample, sample and exercise. Best notes for self study and Tally Computer Training Institutes.

What is Cost Center in Tally Prime?

The cost center is an organizational unit to which costs or expenses can be allocated during recording of transactions in Tally Prime.

F3 Company > Create Company > Demo_Cost Center
Show Moe Features : Yes
Accounting
Maintain Accounts : Yes
Enable bill wise entry : Yes
Enable Cost Centers : Yes

Create Ledger
Gateway of Tally > Create > Ledger > press Enter.
F12 : Configure > Enter
Apply cost enters for ledgers : Yes

Gateway of Tally > Display More Reports > Statements of Accounts > Cost Centres > Cost Centre Summary.
Gateway of Tally > Display More Reports > Statements of Accounts > Cost Centres > Ledger Break Up

Exercise : Cost Center Entry in Tally Prime

Make a Salary ledger under Indirect Expenses (Cost centres are applicable :Yes)
Create following Cost Center under Primary
1. Admin
2. Purchase
3. Store
Create following Cost Center and Payment Voucher

Check the Report in Tally

Gateway of Tally > Display More Reports > Statements of Accounts > Cost Centres > Cost Centre Summary and Leger Break Up