To alter an existing Cost Centre

Go to Gateway of Tally> Accounts Info.> Cost Centres> Alter (under Single Cost Centre)

The Cost Centre Alteration screen appears. Make the necessary changes and Accept to save.

Deleting a Cost Centre

You can delete a Cost Centre from the Cost Centre Alteration screen by pressing ALT+D.

You can delete a Cost Centre only if

• It does not have any Cost Centres created under it.

• It is not used in any transactions.

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.

A Cost Centre is any unit of an organisation to which transactions (generally, revenue) can be allocated. When only costs or expenses are allocated to these units, they are referred to as Cost Centres. When profits are also allocated to these units, they become Profit Centres. You can now obtain a Profit and Loss account of each such Profit Centre.

During invoice or order entry, if the credit amount limit is exceeded, the voucher entry does not proceed further. You have two choices at this stage:

1. Enter a lower value so that the entry can be completed.

2. Abandon the current entry and obtain authorization to increase the credit amount limit in the Multi Ledger Limit Alteration screen.

This is a controlled activity and will depend on the security permissions for altering credit limits.

The effect of setting credit limits is that during voucher entry (also invoice entry), the credit terms are filled up by the pre-set figures. If the voucher configuration (through F12: Configure) is set to disallow modifications of all fields during voucher entry, the cursor skips these fields and modification is not permitted. However, the configuration is set to permit modifications to all fields - alteration of the pre-filled fields is allowed.

If you do not set credit limits, you can still make invoices and give credit periods at the time of invoicing. However, that may not be desirable, especially in a decentralized environment. Therefore, to minimise errors during invoicing, you might prefer to set these important terms beforehand.

To set credit limits:

Go to F11 Features > Accounting Features > Set Maintain Budgets and Controls to Yes

Go to Gateway of Tally> Accounts Info> Ledgers> Credit Limits (under Multiple Ledgers)

Credit Limits can be specified for any account falling under the groups Sundry Debtors and Sundry Creditors. Accounts under Sundry Creditors are permitted because there can be a two-way trade with a party even if it is classified as a creditor or debtor. Classification is done on the basis of the major role

Displaying Multiple Ledgers

Go to Gateway of Tally > Accounts Info. > Ledgers > Display (under Multiple Ledgers)

Select All Items from the List of Groups to view the details of all the Ledgers in Tally. If you want to view the details of all the Ledgers created under a Group select the Group from the List of Groups. The Multiple Ledger Display screen is displayed.

Altering Ledgers in Multiple Mode

Go to Gateway of Tally > Accounts Info. > Ledgers > Alter (under Multiple Ledgers)

Displaying and Altering Ledgers can be done in Single mode and Multiple mode. The Multiple mode allows you to display and alter multiple Ledgers at a time.

Displaying and Altering a Single Ledger
You can view the details of the Ledger Masters in Display mode. Display does not permit any modification. However you can make changes to Ledger Masters in Alter mode.

Displaying a Single Ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Display (under Single Ledger).

This is viewed when you press F10: Chg Sort when the ledger is in the alteration mode.

If this is done, it remains so till you deactivate it by pressing F10: Skip Sort. The topic has been discussed under the chapter "Groups" under Advanced Usage. The default setting is 1000 for all ledgers.

Please note that the index is relative to other ledgers and groups within a parent group. Hence, the position of a ledger may be changed within the Group, to which it belongs, by changing the number 1000.