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

Ledger NameUnder 
RechargeIndirect ExpensesCost centres are applicable(Yes)

Create Cost Centres
Gateway of Tally Create > Cost Centres > press Enter

Cost Centre NameUnder
Mobile RechargePrimary
DTH RechargePrimary
8786456105Phone Recharge
7892561205Phone Recharge
7411089605Phone Recharge
050254895705DTH Recharge
121472789105DTH Recharge
7252367891205DTH Recharge

Payment Entry
Gateway of Tally >  Voucher >Payment (F5)
Account : Cash

Particulars.
Dr  Recharge12000
8786456105          1000 Dr.
7892561205          1000 Dr.
7411089605          4000 Dr.
050254895705             2000 Dr.
121472789105             1000 Dr.
7252367891205           3000 Dr.
Cr Cash.

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

Cost CenterUnder
Mohan LalAdmin
Alam KhanAdmin
BhushanAdmin
AfrozAdmin
ManishPurchase
Yash RajPurchase
IshuPurchase
AskhiPurchase
AnilStore
SaritaStore
ShubhamStore
KomalStore

Paid salary : 190000 as under

Cost CenterUnder
Mohan Lal25000
Alam Khan22000
Bhushan20000
Afroz15000
Manish12000
Yash Raj16000
Ishu14000
Askhi10000
Anil15000
Sarita16000
Shubham15000
Komal10000

Check the Report in Tally

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

Download Notes PDF : Tally Prime from below link:

Leave a Comment

Your email address will not be published.

error: Content is protected !!