In a business organisation preparing budgets and forecasting technique is very common. Tally has a unique feature of providing budgets, which helps in comparing the budgeted figures with actual figures.
Further we can generate reports based on budgets and view the variances and differences between the actual and budget figures.
Tally allows you to create multiple budgets. There could be budget for specific purposes, for both ledgers and groups.
F11 Activate budgets
And create budgets in Accounts info.
Important Notes: -
Choose Closing Balances.
For, comparing closing balance figures in the balance sheet items, assets and liabilities,
Each month will have the same budget value except that the actual opening Balance is also taken into account
Choose on nett Transactions.
For comparing transactions revenue, income and expenses
Nett transaction budgets specified for a period get equally apportioned over the period.