Cost centre in Tally
In this Tally Tutorial, we shall learn how to create, display and alter cost centre in Tally ERP 9 step by step.
Enable Cost Centre in Tally
Before creation of cost centre in tally, make the following configuration settings to enable cost centre in Tally.ERP 9. By enabling cost centres in accounting features helps you to create cost centres under account info.
Step 1: Go to Gateway of Tally > F11: Features > click on F1: Account Features.
Step 2: In the next screen, enable the option for Maintain Cost Centres as “Yes”
Click A:Accept to save the changed details in Tally.ERP 9.
How to create cost centre in Tally
Path: Gateway of Tally –> Accounts Info –> Cost Centres.
Step 1: Go to Gateway of Tally and click on Accounts Info.
Step 2: Now click on the option “Cost Centres”
Step 3: In the next screen, under single cost centre option click on the option create.
Note: If you want to create multiple cost centres in Tally, choose the option create under multiple cost centres.
Step 4: On cost centre creation screen, update the following details
- Category: Tally automatically create primary cost centre where all the cost centres are to be assigned. Primary cost centre is a default cost centre until we create new one. Choose the category as Primary Cost Centre.
- Name: Enter the name of cost centre.
- Alias: You can can call the cost centre with other name, for e.g. Head Office, Branch, etc.
- Under: Update the parent cost centre for this cost centre from the list of cost centres.
After entering the required details for cost centre creation, choose A:Accept to save the details.
How to display Single Cost Centre in Tally
Path: Gateway of Tally –> Accounts Info –> Cost Centres –> Single Cost Centre -> Display
On select the cost centre screen, choose the cost centre from the list of cost centres.
Now the cost centre displays on screen with details.
On display mode, users are not allowed to modify the details of cost centre. Only Alter mode enables to change cost centre details.
How to Alter Single Cost Centre in Tally.ERP 9
Path: Gateway of Tally –> Accounts Info –> Cost Centres –> Single Cost Centre -> Alter
On select cost centre screen, choose the cost centre from the list of cost centres to edit the details.
On cost centre alteration screen, edit the details and choose A:Accept to save the updated details in Tally.ERP 9 application.