To create a Cost Centre, set Maintain Cost Centres to Yes in F11: Features. It is advisable not to set More than ONE Payroll/Cost Category to Yes, unless required.
By default, Tally activates the Cost Centre feature for Ledger accounts under Sales Accounts, Purchase Accounts, Expense and Income groups.
Go to Gateway of Tally> Accounts Info.> Cost Centres> Create (Single Cost Centre)
The Cost Centre Creation screen displays.
A brief explanation on each of the fields in the Cost Centre Creation screen follows.
Name
Enter the name of the Cost Centre in this field. For example, Bangalore.
alias
Enter an alternative name, if required. For example, the Cost Centre Bangalore can be referred to as Head Office or by a code number.
Under
Select the parent Cost Centre under which the Cost Centre needs to be created from the List of Cost Centres. If you want the Cost Centre to be a Primary Cost Centre, select Primary from the list.
Refer Creating Cost Centres for Job Costing for details on using Cost Centres for Job Costing.
Note: Unlike Groups, you can allocate transactions to Primary Cost Centres. However, you should do so when you do not have Sub Cost Centres under the Primary Cost Centre. It is suggested that you allocate transactions to the lowest levels (similar to ledgers).
Displaying a Single Cost Centre
To display the details of Cost Centre masters
Go to Gateway of Tally > Accounts Info. > Cost Centres > Display (under Single Cost Centre)
The Cost Centre Display screen appears. It is not possible to make any modifications to the Cost Centre master in the Display mode. You can only view the details in this mode.