How to Create Cost Centre Report /Segment Reporting in Tally Prime 2022?

Create Cost Report in Tally Prime 2022: Users can arrange their business incomes and expenses in cost centre reporting, as per different business units, employees, projects, departments, etc. By using the Cost Centre capability in the TallyPrime feature, it becomes an easy task. Not only that, you can create more than one cost centre or profit centre in your company, as needed.

Even allocation of the breakup of incomes and expenses is available to different cost centres or profit centres. Tally Prime, the latest version of tally ERP provides a business with reports that help them view income and expense groups or other groups with the profit centre or cost centre allocations. This article will learn how to create centres and see cost reports in detail in Tally prime 2022. How to use BRS (Bank Reconciliation) in Tally Prime.

Create Cost Centre One by one

When a company has many income and expenses transactions, including staff welfare, projects, employees, payment recovery, conveyance, etc., they can maintain them as per business unit, employee, project, department, and so on by using the cost centre function in TallyPrime. This feature of tally prime enables them to allocate their incomes and expenses under centres or profit centres. To create centres one by one, follow the steps mentioned below:

• First, go to Gateway of Tallyandgt; clickCreateandgt; chooseCost Centresandgt; pressEnter. Or, as always, you can pressAlt+Gandgt; Then go to Create Masterandgt; clickCost Centresandgt; and press Enter.
• In case this feature is inactive, you will have to activate the Centres feature. SelectYesor pressYto proceed.
• Nameandalias: As you activate the feature, Provide a name to the centre. As in other matters, you can specify multiple aliases.
• Under: In the ‘under’ section, SelectPrimaryor an existing cost centre.
• centre name might vary according to your preference. PressF12(Configure) to change the options. Or you can always pressCtrl+I(More Details) to enter any of the values without activating the F12 options.
• Now Accept the Centre master. Or pressCtrl+Ato save.
• Clickf12on the screen to see the possible Configurations.

To create a centre or profit centre, if there is a need to create another Master: pressF10(Other Masters) and switch to the desired master screen.

After creating another Master, you can continue from the same place on the Centre screen.

Create multiple centres or profit centres in one go

To create multiple cost centres in one go, follow the steps given below:

• Go to Gateway of Tallyandgt; clickChart of Accountsandgt;chooseCost Centresandgt; and pressEnter.
• Now PressAlt+H(Multi-Masters) andgt; selectMulti Createandgt; and pressEnter.
• If the feature is inactive in your tally app, you will have to activate theCentresfeature. So SelectYesor pressYto proceed.
• Now you can follow the same procedure and Enter theName of the Centre. Nowselect the centre under which it is being created. You can also choosea Primarycentre.
• At last, Accept themaster. Or, to save, you can pressCtrl+A.

You can also alter multiple centres in one go through the following steps:

• Go to Gateway of Tallyandgt; clickChart of Accountsandgt; chooseCost Centresandgt; pressEnter.
• Now PressAlt+H(Multi-Masters) andgt; selectMulti Alter optionandgt; choose the cost centre orPrimaryandgt; and pressEnter.
• Update the details of the company as per your requirements.
• Accept themaster. Or, to save, you can pressCtrl+A.

Cost Centre Report Summary

To see the centre summary, follow the steps given below:

• First, PressAlt+G(Go To) andgt; then type or selectCost Centre Summary.
• To preview monthly summary, click on Monthly Summary.
• Or you can go toGateway of Tallyandgt;Display More Reportsandgt;Statements of Accountsandgt;Cost Centresandgt;Summary.

The report will display the summary of incomes and expenses allocated to different centres or profit centres.

• To have a detailed view of the report, PressAlt+ F5.
• While to see more, PressF12(Configure) to change the options andF11(Features) to enable or disable features.

Tally Prime considers all centres under an internal category calledPrimary Cost Category evenif you have been using the feature without creating any cost category.

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