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Predefined cost center in tally is a cost-based sharing model with the aim of ensuring a level playing field for all agencies, regardless of their size and budget. It ensures that the value exchange happens in a fair and transparent manner allowing each agency to compete on their own merits.

Go to Gateway of Tally > Display More Reports >Statement Of Accounts Info. > Cost Centers > Alter (under Single Cost Centre ). Select the Cost Centre from the List of Cost Centers .

This IS The Type Of Cost Centers : 1.Personal cost center That cost center deals with a particular person or a group of persons. Examples include sales manager, recruitment manager, etc. 2.Impersonal cost center This cost centers deal with equipment, machinery, or even locations. example : research and development department. 3.Production cost center Cost centers directly related to the production department or assist in the production activities come under this category. 4.Service cost center Such cost centers provide services to the production center. A few of such cost centers are the procurement department, quality control department, and logistics department. 5.Operation cost center This cost centers are concerned with people or machines engaged in similar activities. 6.Process cost center Such cost centers are concerned with a specific process or event.

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