September 2, 2019
Tally is one of the most popular accounting software that can help in allocating various costs to each and every unit of the organization. The cost Centre feature of Tally can also be used to track revenue and costs according to different dimensions such as Salesperson, Employee, Department, Sales Invoice, Vehicle, Machine, etc. This tool assists the organization in analyzing the financial flow of each and every cost Centre.
For an entrepreneur, it would be much easy to make quick financial decisions if he or she can actually see the revenue and cost break up by cost Centre instead of just the ledger level details. Users can easily check the profit growth of each and every department and break it up according to the time period.
As Tally cannot provide its users with customized reports, EasyReports plays a crucial role in this aspect.
In order to know the comparison of the expense incurred between each cost Centre and work in accordance with the following steps.
Step 1: Enable “Maintain Cost Centre” to “Yes” under Cost or Profit Centres Management in F11: Accounting Features.
Step 2: When making an entry in Tally, the user needs to select the required Cost Centre so that they can view the reports in our Report generation tool, known as EasyReports.
The cost Centre & cost category feature of Tally.ERP9 can help you handle and manage multiple business units and analyze reports for the financial betterment of the organization. This can also help in profit optimization and quick decision making.
If you are using Tally along with BI tools like EasyReports, you can easily fetch information and prepare reports without any hassle.
EasyReports offers comprehensive cost Centre reporting such as:
- Monthly Analysis of Cost Centre
- Multi-level cost Centre reports
- Cost allocation reports
- Cost Centre P&L
- Opening balance tracking with cost Centres
To know more about EasyReports, click here.