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. A budget helps to refine goals and use funds efficiently. It provides accurate information for evaluation of financial activities, aids in decision making and provides a reference for future planning. You can modify a budget using the alter option. You can also delete a budget.
Multiple budgets can be created for specific purposes in Tally.ERP 9. Budgets for Banks, Head offices, Departmental budgets like Marketing Budgets, Finance Budgets, and so on, can also be created. The Budgeted figures in Tally.ERP 9 can be compared with Actual figures and variance report can be generated.
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In Tally.ERP 9, you can create a budget for groups, ledger accounts, and cost centres.
1. Go to Gateway of Tally > Accounts Info. > Budgets > Create .
2. Enter a Name for your budget in the Budget Creation screen.
3. Select from the List of Budgets for Under field. You can have a hierarchical setup for budgets. In the List of Budgets, Primary is at the top of the hierarchy and you can create more primary budgets. Sub-budgets can be created under Primary budgets.
4. Enter the period of the budget in the From and To fields. The period entered can be a month, a year or any other period.
5. In Set/Alter Budgets of , select
o Groups - To create a budget for a Group of ledger accounts.
o Ledgers - To create a budget for Ledgers.
o Cost Centres - To create a budget for Cost Centres.
6. Press Ctrl+A to accept .
1. Go to Gateway of Tally > Accounts Info > Budgets > Alter.
2. Modify the fields as required, i n the Budget Alteration screen.
3. Change the period or change budgets of Groups , Ledgers , and Cost Centres .
Note: By default, Set/Alter Budgets is set to No . Set this option to Yes to alter .
1. Go to Gateway of Tally > Accounts Info > Budgets > Alter .
2. Press Alt+D to delete.
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