What is the use of a cost centre and how do you create it in Tally Prime?|Asset tally|#Tally sparks
How to enable Automatic voucher numbering in tally prime?|Asset tally|#Tally sparks #tallyprime
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In this video we are going to learn what is the use of a cost centre and how do you create it in Tally Prime?
If you have various incomes and expenses related to different aspects of your business, such as staff welfare, projects, employees, payment recovery, conveyance, etc., and you want to maintain them according to specific business units, you can utilize the cost centre feature in Tally Prime. This feature allows you to allocate incomes and expenses to cost centres or profit centres within your organization.
To create a cost centre in Tally Prime, follow these steps:
1.Go to Gateway of Tally - Create - Cost Centres and press Enter. Alternatively, you can press Alt+G (Go To) - Create Master - Cost Centres and press Enter. If the feature is currently inactive, TallyPrime will prompt you to activate the Cost Centres feature. Select Yes or press Y to proceed.
2.Name & Alias: Provide a name for the cost centre. Similar to other master entries, you can specify multiple aliases if needed.
3.Under: Select either Primary or an existing cost centre to assign.
4.Accept the Cost Centre master. As always, you can use Ctrl+A to save your changes.
If you need to create multiple cost centres, you can do so by selecting the Chart of Accounts from the Gateway of Tally. From there, choose Cost Centres, press Alt+H for multi-create mode, provide the necessary details, and save the entries.
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