We all know, setting up of a budget is an integral part of the job of an accountant, since, it helps in keeping a control over the flow of fund of the organization. Tally allows you to create multiple budgets. There could be a budget for a specific purpose, say for the bank , for the head office, optimistic budget, realistic budget, pessimistic budget,etc. Department-wise budgets can also be created say, marketing budget, finance budget,etc.
In order to activate budget Press F11 -> press F1 -> specify 'yes' at the option 'Maintain Budgets and Controls'.
Creating a Budget.
From Gateway of Tally, go to Accounts Info and and select budget. There create a new budget, it will lead you to budget creation screen.
Information to be provided.
Name of the budget can be given as Quarterly budget, Corporate budget,etc.
The top level is primary budget. You can set up more than one primary budget. Under each primary budget, sub-budgets with different names can be created.
Specify the period of budget.
You may want to set/alter the budget for group of ledger accounts or for ledger accounts individually or for cost centres or all of them. We shall take up budget for group first.
Specify 'yes' at group. If you want to set budget for a group, thereby setting budget for all ledgers under the group. Fill in the following fields.
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