Wednesday, September 17, 2014

'Budgets' in Tally.ERP 9

'Budgets' in Tally.ERP 9
Budgets - Meaning
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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
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To create a Budget in Tally.ERP 9
Go to Gateway of Tally > Accounts Info > Budgets > Create
Altering a Budget
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You can modify a budget, using the alter option.
Go to Gateway of Tally > Accounts Info > Budgets > Alte
Creating Budget for Groups
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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
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In the Budget Creation/Alteration screen, set Yes in the Ledgers field, to set budgets for ledgers.
Creating Budgets for Cost Centers
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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
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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.