Expert Usage for Cost Categories

Create Multiple Cost Categories

Gateway of Tally —> Accounts Info. —> Cost Categories —> Multiple Cost Category Create

This is a quick way to create a number of cost categories in one sitting. Give the name of the cost category and whether you need to allocate revenue and/or non-revenue items to cost centres under it. In the above screen, we have entered two cost categories, Processes and Machines. We wish to allocate both revenue and non-revenue items to Processes and only revenue to Machines. Once the list is completed, press on the first blank Name of Category field to accept the screen and exit.

**There is no 'Under' field. You cannot sub-classify cost categories. Cost categories have cost centres as their sub-classification.

Alter Cost Categories in multiple mode

Gateway of Tally —> Accounts Info. —> Cost Categories —> Multiple Cost Category Alter

You may alter name or allocation particulars without any restriction.

Delete Cost Category in multiple mode
You cannot delete a cost category here. IF you need to delete, go through the Single Alter mode.
Explanation on Buttons
F3:Company: To work with a different company. In the creation mode, you can create cost categories in the other company. In alter mode, you can copy the information by accepting the screen ( or +). The old company's information remains. Not available in Display mode.

F3: New Comp: To work on the same report of another company. Available only in display mode.

F6: Skip names: For faster data entry when you need to alter only the Allocation details but not the names of the cost categories.

F8:Skip Details: For faster data entry when you do not need to alter the Allocation (Revenue and Non- revenue) details. You need to give only the names and the default allocations of Yes for Revenue and No for Non-revenue would be automatically inserted when you are creating cost categories. If you are in alter mode, whatever allocation you had opted for, when creating the categories, would be retained.

Groups, Ledgers,Cost Categories, Cost Centres:

To enable you to switch to these areas without having to quit from the current screen.

F11:Features:To change company features. A detailed discussion on features has been done in earlier section under Gateway of Tally.

F12:Configure : To change configuration of master information.

(!!) Configuration changes affect all companies whereas Features changes affect on the current company.
How to manage and operate Cost Centres under Cost Categories
In the introduction to this chapter, the concept and use of cost centres were explained. You should go through them now if you have not already done it.
Create a Cost Centre
Gateway of Tally —> Accounts Info. —> Cost Centre —> Single Create
Category
This field appears only when you have opted for 'more than ONE Cost Category'. Otherwise, Tally automatically creates a 'Primary Cost Category' to which all cost centres are assigned. This default Primary Cost Category is transparent to you and you need not worry about it till you want more than one cost category. (Cost categories have been explained above). We had already created the cost category Branches. We shall now create Cost Centres under this category. Select Category from the List of Categories or create one using +. If your cursor goes straight to the next field Name, press if you wish to go back to Category.
Name
The name of the Cost Centre. We create the Cost Centre 'Bangalore' here.
alias
We can call the Cost Centre Bangalore with another name, say Head Office, or even a code number.
Under
This field is for the parent cost centre of the cost centre Bangalore under creation. The parent must belong to the same Cost Category -Branches. Since you do not have any other cost centre under Branches cost category, you will find only Primary as the available parent in the popup list of Cost Centres. Assign Bangalore to Primary and accept the screen.
** Unlike groups, you may allocate transactions to primary cost centres too. However, you should do so when you do not have sub-cost centres under the primary. Allocation to a higher level cost centre is often unnecessary and your information is more meaningful if you allocate to the lowest levels (similar to ledgers).
Alter a cost centre
Gateway of Tally —> Accounts Info. —> Cost Centres —> Single Alter —> List of Cost Centres
The screen is exactly the same as the creation screen and is, therefore, not reproduced here.
Category
Though your cursor does not come to it right away, you are allowed to change the Cost Category of the cost centre. Press to go to Category.
Name and alias
Change them if you need to do so.
Under
You may change the parent to any other cost centre under the Category.
Buttons for cost centre single mode
F3:Company: To work with a different company. In the creation mode, you can create cost categories in the other company. In alter mode, you can copy the information by accepting the screen ( or +). The old company's information remains. Not available in Display mode.
Groups, Ledgers, Cost Categories, Cost Centres, Voucher Types:
To enable you to switch to these areas without having to quit from the current screen.
F11:Features:To change company features. A detailed discussion on features has been done in earlier section under Gateway of Tally.
F12:Configure:To change configuration of master information.
Configuration changes affect all companies whereas Features changes affect on the current company.

Expert Usage for Cost Centres under Cost Categories
Create Multiple Cost Centres under Cost Categories
Gateway of Tally —> Accounts Info. —> Cost Centres —> Multiple Create
This is a quick way to create a number of cost centres at a time.
Under Cost Centre
You would select a particular cost centre as the parent cost centre if you wish to create a number of cost centres under it. In the above screen, we have selected Finance as we would like to create the cost centres Taxation, Management Accounts and Financial Accounts under it. If you do not want to be restricted to one parent cost centre while creating cost centres, choose 'All Items'.
The table below 'Under Cost Centre' has the columns Category, Name of Cost Centre and Under (Parent cost centre). If your parent cost centre (the field 'Under Cost Centre') is not 'All Items', your cursor would only go the column Name of Cost Centre. This is obviously because the information of the other fields is already known. In the above screen, rapidly create cost centres Taxation, Management Accounts and Financial Accounts. Select End of List to accept and quit.
All Items
In case the parent cost centre is 'All Items', you will have to fill up all the columns. The cursor will wait at the first Category field.
Category
For the category under which the cost centre will be created. Select from List of Categories or create a new category using +.
To accept the screen and end entry select End of List from the List of Categories. You are not permitted to accept a blank table.
Name of Cost Centre
Give the name of the new cost centre. The alias facility is not available in this mode. Select single alter to give aliases to cost centres being created in multiple mode.
Under
Give the parent cost centre here. The popup List of Cost Centres will allow you to select only those cost centres that belong to the category. For example, while creating the cost centre Management Accounts, the List of Cost Centres for the field Under would contain only the Departments Finance, Manufacturing and Marketing. Other cost centres will be excluded. You may not create a parent here - the ubiquitous + is not available for this field.

Alter Cost Centres (under cost categories) in multiple mode
Gateway of Tally —> Accounts Info. —> Cost Centres —> Multiple Cost Centres Alter —>Select from List of Cost Centres
All fields may be altered for a given Cost Centre.
Under Cost Centre
Since you selected Finance from the popup List of Cost Centres, it fills up this field and the cursor goes to the field Name of Cost Centre. The Category is automatically filled up. In case you had selected 'All Items' from the popup List of Cost Centres, the cursor would go to the field Category. You are allowed to use to move back to the field 'Under Cost Centre' or use the button F4 to Change Parent.
Category
You may change the category or create a new one.
Name of Cost Centre
You may alter the name of the cost centre
Under
Select from the available list of Cost Centres under the specified category. Observe that even Taxation is available as a parent.
Delete Cost Centre (under cost categories) in multiple mode
You cannot delete a cost centre here. IF you need to delete, go through the Single Alter mode.

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Accounting Education: Expert Usage for Cost Categories
Expert Usage for Cost Categories
Accounting Education
http://www.svtuition.org/2008/03/expert-usage-for-cost-categories-create.html
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http://www.svtuition.org/2008/03/expert-usage-for-cost-categories-create.html
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