When expenses are incurred for a particular project, the cost associated can be allocated when recording the payment transaction.
To record a payment transaction
1. Go to Gateway of Tally > Accounting Vouchers > Click F5: Payment.
2. Enter the Date and Reference.
3. Select the Bank or Cash ledger.
4. Select the expense ledger.
5. Enter the Amount. The Cost Allocation screen appears.
6. Select the Cost Centre and enter the Amount.
7. Press Enter.
8. Select another Cost Centre and enter the Amount, if required.
9. Press Enter.
10. Press Enter to view the Bank Allocations screen.
11. Enter the transaction details in the Bank Allocations screen.
12. Press Enter.
13. Enter Narration, if required.
The Accounting Voucher screen appears as shown below:
14. Press Enter to save the transaction.
'Allocating Costs to Projects (Payment)' has been shared with