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How To Create, Alter And Delete Budget In Tally.erp 9?
Budget is a plan for the flow of funds in an organization that includes financial rules for a future action plan for a specific period.
A budget helps to improve objectives and use fund efficiently. It provides accurate information for the evaluation of financial activities that help to make decisions and provides reference for future planning.
In Tally.ERP 9, multiple budgets can be created for specific purposes. Budget for banks, general directorates, marketing budgets, financial budgets can also be created.
Budget figures in Tally.ERP 9 are comparable with actual figures and a variance report can be generated.
Create, Alter, and Delete a budget in Tally.ERP 9:
Enabling Budgets Feature
To enable Budgets
1. Enter Gateway of Tally -> F11: Features -> F1: Accounting Features.
2. Set Maintain budgets and controls to Yes.
3. Press Ctrl+A to accept.
To create budgets for groups:
1. Enter Gateway of Tally -> Accounts Info. -> Budgets -> Create.
2. Enter a name for your budget in budget creation screen.
3. Select the required budget from the List of Budgets available.
Primary is selected from the List of Budgets as default. Sub-budgets can be created under primary budgets.
4. Enter the particular period of the budget in the “From and To” fields.
5. In Set/Alter Budgets, enter “Y” in the Groups field.
6. Press Space bar to open List of Groups from Group Budget Screen.
7. Select the required group.
8. Select the required Type of Budget.
9. Mention budget amount in the Amount field.
10. Press Enter to save.
Creating Budgets for Cost Centers:
The purpose of creating budgets in Tally.ERP 9 is to control expenditure. You can create multiple budgets in Tally software each for a specific purpose.
If cost centers are enabled for the company, then budgets can be created for cost centers.
To create budgets for cost centers
1. Enter the Gateway of Tally -> Accounts Info. -> Budgets -> Create.
2. Enter a Name for your budget in Budget Creation Screen.
3. Select “Yes” or “Enable” budgets for groups and ledgers.
4. Set the option Cost Centers to Yes to view the Cost Centre Budget screen.
5. Enter a budget figure in Expenses for the cost center.
6. Enter a budget figure in Income for the cost center.
7. Enter Closing Balance.
8. Press Enter.
9. Press Enter to save the budgets created.
Altering a Budget:
Modify a budget using the Alter option.
To alter a budget
1. Enter the 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 Centers.
Note: By default, Alter Budgets is set to “No”. Set this option to “Yes” to alter.
Deleting a Budget:
To delete a budget
1. Enter Gateway of Tally -> Accounts Info -> Budgets -> Alter.
2. Press Alt+D to delete.
For more information on creating, altering and deleting budgets in Tally.ERP 9 software, please get in touch with our team of experts on 00966-583117703 or send an email to email@example.com
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