Budgeting and Control
Tally provides a wonderful tool to the user to have a control over his business through the feature of budgets. The user can hence compare the actual performance of the company with the budgeted figures and also get a Variance report. The user can define multiple budgets (e.g. Optimistic Budget, Realistic Budget) or even create budgets for different periods. The budget values can be defined for each Group as well as all Ledgers.
-> select Features (F11) and activate 'Budgets and Controls' -> now select Accounts Info -> select Budgets -> select Create -> specify name for the budget -> specify the date range for the budget -> activate Groups -> select groups A/c -> assign budget value and save -> activate ledger -> select ledgers and assign budget values and save the screen.
To view Budget Reports : select any report (B/S, P/L, T/B etc) -> select new column (Alt + C) -> select period -> select type of Budget -> activate Variance and save screen.
Cost Centers / Profit Centers With Multiple Cost Categories
Tally provides 18 predefined vouchers and also allows the user to define (create) new accounting/inventory vouchers types as per his/her needs. E.g. the user can further classify Payment Vouchers by creating vouchers by the name Bank Payment and Cash Payment Vouchers. The user can also set the voucher numbering as per his needs, which can be either automatic numbering or manual numbering or have no numbering at all. Further the user can also assign Prefix and Suffix for voucher numbers and numbering can restart either from beginning of the year or month.
How to create a new Voucher Type ?
->Select 'Accounts Info' -> select 'Voucher Type' -> select 'create' option -> Now enter the Voucher name, specify the type of voucher, specify the method of numbering, activate or deactivate the other functions as per needs.