Cost Centre Class in tally prime

  • The purpose of Cost Centre Classes is to facilitate predetermined allocation of cost centres to Ledger accounts (like expenses and incomes) during voucher entry.
  • The Automation of cost centre allocation involves creation of classes and predefining percentages for cost centres.
  • The Automation of cost centre allocation involves creation of classes and predefining percentages for cost centres.
  • Cost centre classes affect all voucher types. In voucher entry, depending upon the cost centre class, the allocation will be carried out in the background without the allocation screen being displayed at all.

How to Create Cost Centre Classes in tally prime?

Before Creating class, it is necessary to create the cost category and cost centre

01) Creating Cost Category

  • Department
  • Branch

02) Creating Cost Centre

1) Department

  • Finance
  • Marketing
  • Sales
  • HR

2)Branch

  • Mumbai
  • Delhi
  • Bangalore

03) Create Cost Centre Classes

  • Gateway of tally
  • Create
  • Show more
  • Cost center Class
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04) Ledger Creation: –

Press F12 (Configure)

Note: -Apply Cost centers for ledgers —–> Yes

  • Name: – Commission
  • Under: – Indirect Expenses
  • Cost Centers are Applicable ——–> Yes

05) Voucher Creation:

Gateway of tally —–> Vouchers —–> Payment Voucher (F5)

  • Cost center/Classes: – Branch Target
  • Account: – Cash
  • Particular: -Commission
  • Amount: – 150000

How to view Cost center class report in tally prime?

  1. Gateway of tally
  2. Display More report
  3. Statement of Accounts
  4. Cost center
  5. Ledger Break-up
  6. Commission