What are the different types of cost centres?

Production cost centres are the places where items are made or processed. One assembly area is an example of this. Service cost centres are those that provide services to other cost centres. The personnel department or the canteen are two examples of this.

Course Content

Introduction to Tally

14m 29s

Getting familiar to Gateway of Tally

28m 55s

Introduction to Accounting Ledgers & Capital Transaction in Tally

23m 25s

Accounting Transactions in Tally

9m 47s

Accounting Reports in Tally

6m 15s

Assignment : Accounting transaction

2m 9s

Quiz : Accounting Transaction

Business Transaction for Purchase in Tally

13m 50s

Business Transaction for sale in Tally

24m 45s

Other Business Transactions in Tally

9m 11s

Reports Generation for Business transaction in Tally

22m 16s

Assignment : Business transaction and basic reports

3m 12s

Introduction to Inventory

20m 39s

Unit Of Measure & Closing Stock new

24m 27s

Assignment : Introduction of inventory

1m 28s

GST Introduction

17m 31s

GST Advantages & GST Number

27m 23s

HSN code & GST Rate

8m 30s

TAX Calculation in Tally

9m 23s

Quiz : Introduction Of GST

ITC Adjustment & ITC Setoff

25m 18s

Understanding GST Return filling with Example

10m 54s

GST setup & Inventory setup in Tally

18m 46s

Quiz : ITC Liability Payment

GST Transaction Report

19m 29s

GST Sales Transaction

14m 48s

GST Reports & ITC

21m 50s

Assignment : GST Transaction Report

2m 39s

Quiz : GST Transaction Report & Payment

E way bill Configuration And Transaction in Tally

17m 24s

Career Guideline

2m 31s

Assignment : Eway Bill

1m 32s

Quiz : Eway Bill

Banking Transactions in Tally

12m 26s

Banking Reconciliation & Cheque Printing in Tally

34m 28s

Other Transactions in Tally

14m 34s

Assignment : Banking

1m 58s

Quiz : Banking Transactions

Introduction to Budget in Tally

21m 29s

Operating Expense Transactions in Tally

22m 27s

Fix Assets Transactions In Tally

20m 13s

Assignment : Operating Expense

2m 1s

Assignment : Budget

1m 25s

Quiz : Budget & Operating Expense

Cost Centre Transaction in Tally

30m 25s

Predefine cost centers in Tally

13m 10s

Assignment : Cost Centers

1m 19s

Quiz : Cost Centers

Voucher Type & Voucher Class in Tally

30m 21s

Simple Interest Calculation in Tally

31m 4s

Bank Overdraft Interest Calculation in Tally

18m 24s

Compound Interest Calculation in Tally

17m 21s

Assignment : Simple Interest

1m 29s

Assignment : Voucher Type

1m 15s

Quiz : Voucher Type & Interest Calculation

Introduction to Procurement Process

14m 8s

Procurement Transactions in Tally

22m 10s

Preclose Order in Tally

15m 23s

Assignment : Procurement Process

1m 33s

Quiz : Procurement Process

Sales Process & Transactions in Tally

18m 1s

Generating Sales Process Reports in Tally

16m 5s

Assignment : Sales Process

1m 28s

Quiz : Sales Process

POS in Tally

26m 26s

Assignment : POS

1m 43s

Quiz : POS - Point of sale

Introduction to Godown Transactions in Tally

17m 53s

Billed Quantity Discount in Tally

21m 41s

Assignmnet : Godown & Actual Bill

1m 53s

Quiz : Godown & Bill Quantity Discount

Stock category in Tally

16m 14s

Price List in Tally

29m 27s

Career Guideline

1m 17s

Assignment : Price List

1m 10s

Assignment : Stock Category

1m 4s

Quiz : Stock Category & Price List

Multi Currency in Tally

34m 32s

Career Guideline

1m 55s

Assignment : Multy Currency

1m 40s

Quiz : Multi Currency

Introduction to Manufacturing Process in Tally

30m 55s

Manufacturing Process Transactions in Tally

30m 1s

Understanding Manufacturing Process with by Product in Tally

30m 44s

Assignment : MFG Process

3m 48s

Quiz : Manufacturing Process

Item cost tracking in Tally

27m 42s

Batch Details in Tally

31m 50s

Assignment : Batch Detail

1m 9s

Assignment : Item Cost Tracking

1m 12s

Quiz : Item cost tracking & batch detail

Financial MIS Reports in Tally

36m 7s

Inventory MIS Report in Tally

26m 34s

Quiz : MIS Reports

Mix Supply in Tally

34m 45s

Assignment : Mix Supply

1m 56s

GST Detail Report in Tally

26m 39s

Introduction of Payroll

27m 27s

Payroll Transactions in Tally

41m 33s

Payroll Reports in Tally

24m 50s

Payroll Statutory Reports in Tally

18m 5s

Assignment : Payroll

1m 26s

Quiz : Payroll

Additional functionalities in Tally

36m 57s

Introduction to Tally Prime

31m 48s

Course Summary

3m 44s

Career Guideline

35s

Predefine cost centers in Tally

Tally course with Accounting and GST Cost Centers

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Discussion

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Course Content

Introduction to Tally

14m 29s

Getting familiar to Gateway of Tally

28m 55s

Introduction to Accounting Ledgers & Capital Transaction in Tally

23m 25s

Accounting Transactions in Tally

9m 47s

Accounting Reports in Tally

6m 15s

Assignment : Accounting transaction

2m 9s

Business Transaction for Purchase in Tally

13m 50s

Business Transaction for sale in Tally

24m 45s

Other Business Transactions in Tally

9m 11s

Reports Generation for Business transaction in Tally

22m 16s

Assignment : Business transaction and basic reports

3m 12s

Introduction to Inventory

20m 39s

Unit Of Measure & Closing Stock new

24m 27s

Assignment : Introduction of inventory

1m 28s

GST Introduction

17m 31s

GST Advantages & GST Number

27m 23s

HSN code & GST Rate

8m 30s

TAX Calculation in Tally

9m 23s

ITC Adjustment & ITC Setoff

25m 18s

Understanding GST Return filling with Example

10m 54s

GST setup & Inventory setup in Tally

18m 46s

GST Transaction Report

19m 29s

GST Sales Transaction

14m 48s

GST Reports & ITC

21m 50s

Assignment : GST Transaction Report

2m 39s

E way bill Configuration And Transaction in Tally

17m 24s

Career Guideline

2m 31s

Assignment : Eway Bill

1m 32s

Banking Transactions in Tally

12m 26s

Banking Reconciliation & Cheque Printing in Tally

34m 28s

Other Transactions in Tally

14m 34s

Assignment : Banking

1m 58s

Introduction to Budget in Tally

21m 29s

Operating Expense Transactions in Tally

22m 27s

Fix Assets Transactions In Tally

20m 13s

Assignment : Operating Expense

2m 1s

Assignment : Budget

1m 25s

Cost Centre Transaction in Tally

30m 25s

Predefine cost centers in Tally

13m 10s

Assignment : Cost Centers

1m 19s

Voucher Type & Voucher Class in Tally

30m 21s

Simple Interest Calculation in Tally

31m 4s

Bank Overdraft Interest Calculation in Tally

18m 24s

Compound Interest Calculation in Tally

17m 21s

Assignment : Simple Interest

1m 29s

Assignment : Voucher Type

1m 15s

Introduction to Procurement Process

14m 8s

Procurement Transactions in Tally

22m 10s

Preclose Order in Tally

15m 23s

Assignment : Procurement Process

1m 33s

Sales Process & Transactions in Tally

18m 1s

Generating Sales Process Reports in Tally

16m 5s

Assignment : Sales Process

1m 28s

POS in Tally

26m 26s

Assignment : POS

1m 43s

Introduction to Godown Transactions in Tally

17m 53s

Billed Quantity Discount in Tally

21m 41s

Assignmnet : Godown & Actual Bill

1m 53s

Stock category in Tally

16m 14s

Price List in Tally

29m 27s

Career Guideline

1m 17s

Assignment : Price List

1m 10s

Assignment : Stock Category

1m 4s

Multi Currency in Tally

34m 32s

Career Guideline

1m 55s

Assignment : Multy Currency

1m 40s

Introduction to Manufacturing Process in Tally

30m 55s

Manufacturing Process Transactions in Tally

30m 1s

Understanding Manufacturing Process with by Product in Tally

30m 44s

Assignment : MFG Process

3m 48s

Item cost tracking in Tally

27m 42s

Batch Details in Tally

31m 50s

Assignment : Batch Detail

1m 9s

Assignment : Item Cost Tracking

1m 12s

Financial MIS Reports in Tally

36m 7s

Inventory MIS Report in Tally

26m 34s

Mix Supply in Tally

34m 45s

Assignment : Mix Supply

1m 56s

GST Detail Report in Tally

26m 39s

Introduction of Payroll

27m 27s

Payroll Transactions in Tally

41m 33s

Payroll Reports in Tally

24m 50s

Payroll Statutory Reports in Tally

18m 5s

Assignment : Payroll

1m 26s

Additional functionalities in Tally

36m 57s

Introduction to Tally Prime

31m 48s

Course Summary

3m 44s

Career Guideline

35s

FAQs

In Tally, a cost centre is used to track expenses or costs related to a purchase, sales, or manufacture. When we say cost centre, we're referring to the location where expenses are allocated.

Accounting, human resources, information technology, maintenance, and research and development are examples of cost centres. A cost centre is a subset of a department that can be defined at a lower level. A specific job role, machine, or assembly line could be involved.

Production cost centres are the places where items are made or processed. One assembly area is an example of this.
Service cost centres are those that provide services to other cost centres. The personnel department or the canteen are two examples of this.

Cost centres are CO objects that are used for internal management reporting, whereas GL is a FI object that is used for external reporting.