Interested to Buy Any Domain ? << Click Here >> for more details...
In Tally what do you mean by cost centre?
- 5 Answers
- 26388 Views
- Hindustan Unilever Limited, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / guru
Hi Dear,
It's nothing but Project or an event.
For ex. in an organization, there might be lot of teams,
each teams will do a separate projects, team will spent
amount on their particular project, If you have to track on
the amount spent by each team, you have to maintain cost center.
| Is This Answer Correct ? | 67 Yes | 5 No |
Answer / shalima
A Cost Centre is any unit of an organisation to which
transactions (generally, revenue) can be allocated. When
only costs or expenses are allocated to these units, they
are referred to as Cost Centres. When profits are also
allocated to these units, they become Profit Centres. You
can now obtain a Profit and Loss account of each such
Profit Centre.
Cost Centre in Tally.ERP 9 allows an additional dimension
to a transaction where a Ledger account indicates the
nature of the transaction. It does not readily disclose,
except in the narration field, which part of the
organisation was involved in the transaction.
With the help of Cost Centres, a transaction can be
allocated to it, which would then enable accumulation of
the all transactions for that particular Cost Centre.
Tally.ERP 9 gives you the Cost Centre break-up of each
transaction as well as details of transactions for each
Cost Centre.
Some examples of Cost Centres are
Departments of an organisation - Finance, Manufacturing,
Marketing, and so on.
Products of a company.
Individuals such as Salesman A, Salesman B.
| Is This Answer Correct ? | 44 Yes | 10 No |
Answer / rajat saha
Would it not be easier to make the decision for your
business if you have the option to view the
costs incurred on each of your business unit and how much
profit each unit made? This is exactly what the
‘Cost Center and Cost Category’ in Tally.ERP 9 can do for
your business.
The cost center in Tally.ERP 9 refers to an organizational
unit to which costs or expenses can be
allocated during transactions while the cost category is
used to accumulate costs or profits for parallel sets
of cost centers. For example, you can use cost center to
track expenses of each employee while cost
category can be used to see the effectiveness of each project.
To use cost center in Tally.ERP 9, let’s consider a ‘Sales
department’ in an organization which has
4 different Salesmen. To record their expenses and
incomes.......
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / rinku thakuria
Cost centre is a unit of organisation. which allocate the organisation department parts. For example: Marketing department, Sales department, Administration department, etc.
In another word cost centre is a unit of expenses or revenue of a Company. For example:- Unit of office expenses are Milk,Tea bag,sugar,Water,Buiscuit,etc.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vinay pittre
Cost Center is a platform where the accounts are diverted into different forms according to the importance and existence which will help in calculating easily.
eg. sales, marketing, tranpotation
| Is This Answer Correct ? | 1 Yes | 0 No |
WHAT WILL BE THE ACCOUNTING ENTRIES IN THE BOOKS IN CASE OF A COMPANY HAVING ITS SHARE CAPITAL WHEN A NEW COMPANY (LTD OR (P) LTD) IS FORMED ?
What is the difference between Receipt & Payment Account and Income & Expenditure Account?
9 Answers Accounting, Barclays, ICICI, Tarasons Communications, TATA,
what is a financial statement
You placed an Order for some books but it was not delivered on time or the books were damaged, so are write Complaint Letter to the Shopkeeper about it.
share premium?
25 Answers Capital IQ, Finance,
What is the difference between cash and mercantile system of accounting? Which according to you is a better system & why?
fill in the Blanks Recognising Revenues when cash is received is __________basis of accounting
WHAT IS CONTINGENTI ASSESTS AND LIABILITIES?
4 Answers BA Continnum Solutions,
fill in the Blanks Share Holders in Company have _____________Liability
capital goods excise duty why are taken in 50 percent in firt finicial year and second next finicial year?
Queries for Big4 Articleship : Whether son of CA in practice effects chances.
How can i do the entry of of service tax in tally.
Audit 
