Interested to Buy Any Domain ? << Click Here >> for more details...
In Tally what do you mean by cost centre?
- 5 Answers
- 26578 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 |
About Funding Working Capital to a Company? A company Turn over is 12 Cr, but in the bank statement credits per month is more that 3 Cr? how this could happen? awaiting your views?
How good are you at Finance?
what is sensex and nifty.
Why 2:1 is considered as ideal current ratio?
EXPAND______________HDTV
Define Drawee
What is Summarising
What is the Voucher entry (In Tally) if the Office Expenses of Company A is being made by Company B on behalf of Company A?
You have joined company yesterday then you are Appling B1 visa today. why so urgent.
is India apply IFRS now?
What goals do you have in your career
0 Answers Amdocs, GSK GlaxoSmithKline, IBPS, JPMorgan Chase,
my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
Audit 
