Wednesday, September 17, 2014

'Budgets' in Tally.ERP 9

'Budgets' in Tally.ERP 9
Budgets - Meaning
A budget is a plan prepared for the flow of funds in an organisation. It contains financial guidelines for the future plan of action for a selected period of time.
Creating a Budget
To create a Budget in Tally.ERP 9
Go to Gateway of Tally > Accounts Info > Budgets > Create
Altering a Budget
You can modify a budget, using the alter option.
Go to Gateway of Tally > Accounts Info > Budgets > Alte
Creating Budget for Groups
In the Budget Creation/Alteration screen, set Yes in the Groups field, to set budgets for a group or group of ledgers
Creating Budget for Ledger Accounts
In the Budget Creation/Alteration screen, set Yes in the Ledgers field, to set budgets for ledgers.
Creating Budgets for Cost Centers
The purpose of a budget is to control expenditure. You can create multiple budgets in Tally.ERP 9, each for a specific purpose such as for the Bank, for the Head Office, Marketing budgets, Finance budgets, and so on.
Viewing Budget Variance
Budget Variance report can be viewed from Trial Balance, Group Summary, monthly summary etc. The Budget Variance button (Alt+B) is active, if Budgets feature is enabled and at least one budget created. Budget Variance displays Budgets, Actuals with percentage and Variance from the budget with percentage.