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In Tally what do you mean by cost centre?
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Answer Posted / 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.
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