Cost Centres in Tally ERP 9 - Part 2: A Comprehensive Guide

Cost Centre’s In Tally -2

Tally ERP 9 is a powerful accounting software that offers businesses a range of features to manage their finances. One such feature is the ability to create and manage cost centres. In this article, we'll dive deeper into cost centres in Tally ERP 9 and guide you through the steps involved in creating and managing cost centres.

Step 1: Open Tally ERP 9

The first step is to open Tally ERP 9 on your computer.

Step 2: Go to the Gateway of Tally

Once Tally ERP 9 is open, you'll see the Gateway of Tally screen. From here, you can navigate to different sections of the software.

Step 3: Select the Accounting Info Option

In the Gateway of Tally screen, select the "Accounting Info" option.

Step 4: Select the "Cost Centres" Option

In the Accounting Info screen, select the "Cost Centres" option.

Step 5: Create the Cost Centres

Create the necessary cost centres by selecting the "Create" option and entering the details of each cost centre, such as its name and allocation.

Step 6: Allocate Cost Centres to Ledgers

Once you've created the cost centres, you can allocate them to ledgers. To do this, go to the ledger creation screen and select the appropriate cost centre from the "Cost Centre" field.

Step 7: Use Cost Centres in Transactions

Now that you've created and allocated the cost centres, you can use them in your transactions. To do this, simply select the appropriate cost centre from the "Cost Centre" field in the transaction screen.

Step 8: View Reports Based on Cost Centres

Tally ERP 9 allows you to view reports based on cost centres, giving you a clear picture of your expenses and revenues. To view a report based on cost centres, go to the "Cost Centre" option in the Gateway of Tally screen and select the report you want to view.

Conclusion

In conclusion, cost centres are a powerful tool in Tally ERP 9 that can help businesses manage their finances more effectively. By creating and allocating cost centres, businesses can track their expenses and revenues more accurately and make better-informed financial decisions. It's important to enter accurate information when creating and allocating cost centres to avoid any errors in your financial reporting. By following the steps outlined above, you can create and manage cost centres in Tally ERP 9 and take control of your finances.