Financial Controlling Using TallyPrime
Financial control is an important aspect for every business. You may want to check the projection of the financial position of the business based on estimated incomes or expenses, without making any changes to the source data. Using TallyPrime, you can create budgets, and use scenario management tool to generate provisional reports for a future period. You can also create cost centres, and allocate the expenses to the respective cost centres.
Budget: Using budgets you can plan the flow of funds for a selected period of time, to use funds efficiently. Budgets provides accurate information for evaluation of financial activities, aid in decision making and provide a reference for future planning.
Scenario: Using scenario management tool, you can record provisional vouchers, without affecting the source data. You can forecast the expenses by including these provisional vouchers in your reports.
Cost Centre Allocation: You can maintain your incomes and expenses, as per different business units, employees, projects, departments, and so on, using the Cost Centre capability in TallyPrime. You can have one or more cost centres in your company, as needed, and allocate the breakup of incomes and expenses to different cost centres.
Click the links below for detailed information on using features provided for financial control in TallyPrime: