How do you enter Purchase and Sales Vouchers with COST CENTERS and COST CATEGORIES?

ASSIGNMENT

  1. Company purchase the following Materials from Green Stone Materials and the material stored at Dolapeta Godown. Reference Number: GSM/001. Credit Days: 90 days. Date: April 01 2020.
    The Total Material is purchased for Project WorksApartment and Villa. Share the Material For Project Apartment – 60% and Project Villa – 40%
S.NoName of the ItemQuantityRate
1.Bricks20,000 No.sRs.3.00
per no.
2.Sand10,000 Cu.FtRs.140 per Cu.Ft
TOTAL PURCHASE VALUE14,60,000

2. Company Purchased the following materials from Andhra Gignatic Materials and the material stored at Maruthi Nagar Godown. Reference Number: AG/001. Credit Days: 35 Days, Date: 02/04/2020. The Total Material is purchased for Project WorksApartment and Villa. Share the Material For Project Apartment – 50% and Project Villa – 50%

S.NoName of the ItemQuantityRate
1Cement2000 bags420rs per bag
2PlyWood500 SQ.FeetRs.38 per SQ.Feet
TOTAL PURCHASE VALUE8,59,000

3. The company purchased the following materials from Victory Stores and the material stored at Rajam Godown. Reference Number: VS/001. Credit Days: 20 Days. Date: 02/04/2020. The Total Material is purchased for Project Work – Apartment and Villa. Share the Material for Project Apartment – 75% and Project Villa – 25%

S.NONAME OF THE ITEMQUANTITYRATE
1Asian Paint500Rs. 134 per liter
2Teak Wood40Rs.10,500 per CFT
TOTAL PURCHASE VALUE 4,87,000

4. Company completed the Project Work – Apartment and raised a bill on TERRIFIC CONSTRUCTIONS with ref no: TC/001 for the amount 25,00,000/- and Credit days 60 days. Date: 01/05/2020

5. Company completed the Project Work – Villa and raised a bill on SS CONSTRUCTIONS with ref no: SS/001 for the amount 30,00,000/- and credit days 50 days. Date:02/05/2020

SOLUTION

STEP: 1 (Setting-up Features)

  • Press F11 for Company Features
  • Press F1 for Accounting Features
    Cost / Profit Centers Management:
    Maintain Cost Centers – Yes
    Maintain More Than One Payroll / Cost Category – Yes
  • Press F2 for Inventory Features
    Maintain Multiple Godowns – Yes
  • ACCPET_YES

STEP: 2 (Creating Cost Categories)

  • Gateway of Tally > Accounts Info > COST CATEGORIES > Create
  • Name : Project Works
    Allocate Revenue Items – Yes
    Allocate Non- Revenue Items – Yes

    ACCEPT_YES

STEP: 3 (Creating Cost Centers)

  • Gateway of Tally > Accounts Info > COST CENTERS > Create
  • Category : Project Works
    Name : Apartment
    Under: Primary
    Accept_Yes
  • Category : Project Works
    Name : Villa
    Under: Primary
    Accept_Yes

STEP : 4 (Creating Ledgers)

  • Gateway of Tally > Accounts Info > Ledgers > Create
  • Name : Green-Stone Materials
    Under: Sundry Creditors
    Maintain Balances Bill -By Bill : YES
    Press Enter
    Accept_YES
  • Name : Andhra Gignatic Materials
    Under: Sundry Creditors
    Maintain Balances Bill By Bill – Yes
    Press Enter
    Accept_Yes
  • Name : TERRIFIC CONSTRUCTIONS
    Under: Sundry Debtors
    Maintain Balances Bill By Bill – Yes
    Press Enter
    Accept_YES
  • Name : SS CONSTRUCTIONS
    Under : Sundry Debtors
    Maintain Balances Bill By Bill – Yes
    Press Enter
    Accept_YES
  • Name : Purchase A/c
    Under: Purchase Accounts
    Inventory Values Are Affected? : YES
    Cost Centers Are Applicable ? Yes
    Press Enter
    Accept_Yes
  • Name : Sales A/c
    Under: Sales Accounts
    Cost Centers Are Applicable ? Yes
    Press Enter
    Accept_Yes

Step: 5 (Creating Stock Items)

  • Gateway of Tally > Inventory Info > Stock Items > Create
  • Name : Bricks
    Under: :Primary
    Units : (Alt+C) No.s
    Accept_Yes
  • Name : Sand
    Under: Primary
    Units: (Alt + C) Cu.Ft
    Accept_yes
  • Name : Cement
    Under: Primary
    Units: (Alt+C) Bags
    Accept_Yes
  • Name : PlyWood
    Under: Primary
    Units: (Alt+C) Sq.Feet
    Accept_Yes
  • Name : Asian Paint
    Under: Primary
    Units: (Alt+C) Liters
    Accept_Yes
  • Name : Teak Wood
    Under: Primary
    Units: (Alt+C) CFT
    Accept_Yes

Step: 6 (Creating Purchase Vouchers)

  • Gateway of Tally > Accounting Vouchers > Press F9 for Purchase
  • Press CTRL + V for Voucher Mode
  • Press F2 for Date: 01-04-2020
  • Supplier Invoice Number: GSM/001
  • Cr: Green Stone Materials
  • Amount: 14,60,000
    Press Enter
  • Type of Ref: New Ref
    Name : gsm/01
    Due Date or Credit Days: 90 Days
    Amount:
  • Dr. Purchase A/C
    Press Enter

    Name of Item: Bricks
    Press Enter
    Godown: (ALt+C) Dolapeta
    Quantity: 20,000
    Rate: 3.00
    Amount: 60,000
    press Enter
    Cost Category: Project Works (Press Enter)
    Name of Cost Center : Apartment
    Amount: 36,000 (press Enter)
    Name of Cost Center: Villa 24,000 (Press Enter)

    Name of Item: Sand
    Press Enter
    Godown: Dolapeta
    Quantity: 10,000
    Rate: 140
    Amount: 14,00,000
    press Enter
    Cost Category: Project Works (Press Enter)
    Name of Cost Center : Apartment
    Amount: 8,40,000 (press Enter)
    Name of Cost Center: Villa 5,60,000 (Press Enter)
  • PRESS ENTER_ACCEPT-YES

enter the remaining purchase vouchers same as above

Step: 7 (Creating Sales Vouchers)

  • Press F8 for sales Voucher
  • Press Ctrl + V for Voucher Mode
  • Press F2 for Date: 01/05/2020
  • Reference No: TC / 001
  • Dr: Terrific Constructions
    Amount: 25,00,000/-
    NEW REF > TC/001 >Credit Days 60 > 25,00,000
  • Cr: Sales A/c
    Amount: 25,00,000
    Cost Category: Project Works
    Name of Cost Center: Apartment
    Press Enter
  • ACCEPT_YES
  • enter the second sales voucher same as above.

STEP: 8 (REPORTS)

  • Gateway of Tally > Display > Statements of Accounts > Category Summary