DIGC's webinar on customised cost centres for printing industry

DIGC has been conducting a series of webinars and online training pertaining to matters of finance under the expert guidance of CA Uday Dhote.

"With Unlock 1.0, DIGC came up with a unique web class on ‘Creating Customised Cost Centres for Printing Industry (using Tally)’ on 18 June 2020," a press note shared with PrintWeek said. The organiser said the webinar was an interactive and hands-on approach where participants showed live working in Tally and Excel software.

"The lockdown and the subsequent challenge of restarting business in the 'new normal' have set many printers thinking. The last couple of months have been a period of introspection for small and big business alike," the press note stated. "The emphasis now is on ‘controlling the controllable’ and then effectively reducing cost. This has made many printers go back to the drawing board and think about which tools would help them do this, instead of going in for the costly MIS/ERPs."

According to the organiser, Tally is one such software, which most of the accountants are using and if the Cost-Centres feature in Tally ERP is used, it would give an edge to the organisation in controlling costs. "If used judiciously, it can give amazing insights to the finance team especially in identifying departments/activities, which are not contributing to the bottom line," it said.

"The conventional financial accounting may not be able to capture this. Moreover, the entries relating to cost centres can be done simultaneously while doing the accounting entry. This helps in generating meaningful dashboards for the management," it added.