In TallyPrime, the Cost Centre could refer to an organizational unit to which costs or expenses can be allocated during recording of transactions in vouchers while the cost category is used to accumulate costs or profits for parallel sets of Cost Centres.

For example, we can use Cost Centre to track expenses of each activity which is a Cost Centre in the company while Cost Category can be used to see the effectiveness of each department in which these activities are taking place.

1.1 Introduction to Cost Centre

In this chapter, you will learn about meaning of Cost Centre, Importance of Cost Centres, Types of Cost Centre, Profit Centre, Activation of Cost Category and Cost Centre in Tally and Creation of Cost Centre and Cost Category in Tally.

1.1.1 Meaning of Cost Centre

1.1.2 Importance of Cost Centre

1.1.3 Types of Cost Centres

1.1.4 Difference between the Cost Centre, Profit Centre, and an Investment Centre

1.1.5 Accounting for Cost Centre

1.2 Activation of Cost Centre and Cost Category

You will learn how to enable Cost Centre in Tally and how to use Cost Centres or Profit Centres for allocation of incomes and expenses. You will also learn how to create Cost Centre and Cost Category and creation of multiple cost categories in one-go.

1.2.1 Enable Cost Centre in Tally

1.2.2 Use Cost Centres or Profit Centres for Allocation of Incomes and Expenses

1.2.3 Create Cost Centre

1.2.4 Create Cost Category

1.2.5 Create multiple cost categories in one-go

1.2.6 Use Cost Category in Cost Centres

1.2.7 Parallel Allocation of Cost Centres or Profit Centres in Transactions

1.3 Allocation of Cost Centre

In this chapter, you will learn about Cost Centre or Profit Centre Allocation in Transactions. Cost Allocation and Use Cost Category for Parallel Allocation will also include in this chapter.

1.3.1 Cost Centre or Profit Centre Allocation in Transactions

1.3.2 Cost Allocation

1.3.3 Use Cost Category for Parallel Allocation

1.4 Automation of Cost Centre

This is an important chapter where you learn about the automation of Cost Centre, Cost Centre class, creation of class, and their use.

1.4.1 Automation of Cost Centre

1.4.2 Cost Centre Class

1.4.3 Create Cost Centre Class

1.4.4 Use Cost Centre Class

1.5 Report

Now you will learn about Reporting; reporting of Income and Expenses Incurred Cost Centre-Wise, Breakup of Cost Centre, Cost Centre Summary, and Cost Centre Monthly Summary

1.5.1 Report

1.5.2 Track Income and Expenses Incurred Cost Centre-Wise

1.5.3 Breakup of Cost Centre

1.5.4 Cost Centre Summary

1.5.5 Cost Centre Monthly Summary

1.5.6 Cost Category Summary