Cost Centre Class in Tally
Cost Centre Class in Tally
The allocation of ledger account to Cost Centre are to be entered in each Voucher. Often, the ledger amount is allocated to Cost Centres as per stipulated %. In such case, Cost Centre allocation may be automatically done on the basis of pre fixed ratio, using Cost Centre Class, instead of entering the allocation for each voucher.
A defined Cost Centre Class may be used in any Accounting Voucher.
Upon voucher entry, the amount of the transaction for the related Cost Allocable Ledger accounts are auto allocated to the Cost Centres in the background, as per allocation parameters set in the selected Cost Centre Class and the allocation screen does not appear during voucher entry.
Cost Centre Class enables allocation in voucher entry extremely fast and accurate.
Cost Centre Class set Up in Tally
At F1:Features>Accounting Features screen, having activated Cost Centre, set Yes at Use Pre-defined Cost Centre Allocations during Entry, to get Auto Cost Allocation screen .
Cost Centre Class creation in Tally
At Auto Cost Allocations Screen , at Class Name, enter the Cost Centre Class Name to get Cost Centre Allocation Values entry screen .
Cost Centre Configuration set up for Voucher in Tally
Cost Centre Allocation Entry in Cost Centre Class in Tally
At Cost Centre Allocation Values entry screen, enter as follows:
Cost Category / Cost Centre details : Select the Cost Category / Cost Centre as follows:
- Cost Category : At first column, select the Cost Category. Next select the Cost Centre form the list of child Cost Centres of the selected Category
- Cost Centre Allocation Rate: Against a selected Cost Centre, enter the Rate (in %) to be allocated to the Cost Centre.
This way continue to create the desired Cost Classes and specify the Auto Cost Allocation % for each Cost Class / Cost Category, until you fully allocate (100%) to the Cost Centre under the selected Cost Category.
Press <enter> at blank line to terminate Cost Class Name entry.
This way, you may create more Cost Centre Class and make allocation to The Cost Categories & underlying Cost Centres
Voucher Entry using Cost Centre Class
Having entered the auto cost allocation for Cost Classes, during Accounts Voucher entry , at the voucher header, a field Cost Centre / Class appears to select the Cost Centre Class from the list .
Cost Centre allocation in Voucher using Voucher Class
After you enter a Ledger Account and amount of any Cost Allocable Ledger Account (Ledger Account for which Cost Centre is activated), the Ledger Amount is auto allocated to the respective Cost Category / Cost Centres as per allocation % set in the selected Cost Centre Class.
Cost Centre allocation Voucher Entry Configuration in Tally
At Voucher entry screen, click F12:Configure to get Voucher Entry configuration screen. At Voucher Entry configuration screen, set the option as follows:
- Cost Centre Details : At Show Cost Centre Details, set :
- Yes to show the Cost Centre details in the main voucher screen
- No. The Cost Centre details are not displayed in the main voucher screen (but internally allocated as per Voucher Class)
- Auto Allocated Cost Centre Details : At Show Cost Centres in Auto Cost screen, set :
- Yes to show the Cost Centre details in the Auto Allocation list
- No. The Cost Centre in Auto Allocation screen are not displayed in the main voucher screen (but internally allocated as per Voucher Class)
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