Voucher Classes are available for all major voucher types and the Cost Centres can be allocated if classes are used. Automation of cost centre allocation has met the need of 'percentage allocation' based on predefined figures.

Cost centre classes affect all voucher types. For further details refer to Cost Centre Classes.

If the Method of Voucher Numbering is set to Automatic, then an additional field to set the advanced configuration for the Voucher type appears. Setting this field to Yes, Voucher Type Creation (Secondary) screen appears.

Go to Gateway of Tally > Accounts Info. > Voucher Type > Create

Note: A new voucher type must assume the functions of a predefined voucher type

The Voucher Type creation screen is divided into three sections depending on the various settings.

Name

Give the name of the new voucher type, e.g., Sales Invoice.

A voucher is the primary online document for recording transactions. Transaction recording and analysis are greatly facilitated by having specific formats for different types of transactions. Tally provides 16 different predefined voucher formats or what it calls predefined types of vouchers. These are used for recording various transactions. A payment voucher is used for all types of payments, a receipt voucher for all types of money receipts, a sales voucher for recording sales transactions, and so on.

Trial Balance and Group Summary have a feature called Budget Variance. The Budget Variance button (Alt+B) is active if Budgets feature is enabled and at least one budget created. Budget Variance displays Budgets, Actuals with percentage and Variance from the budget with percentage.

1. Budget Variance can be accessed from:

    

You can modify a budget, using the alter option.

• Go to Gateway of Tally > Accounts Info > Budgets > Alter

• In the Budget Alteration screen, modify the fields as required. Change the period or change budgets of Groups, Ledgers and Cost Centres.

Note: Set/Alter Budgets is set to No by default. Set this option to Yes to alter.

Deleting a Budget

To delete a budget

• Go to Gateway of Tally > Accounts Info > Budgets > Alter

• Press Alt+D.

The purpose of a budget is to control expenditure. You can create multiple budgets in Tally, each for a specific purpose such as for the Bank, for the Head Office, Marketing budgets, Finance budgets, and so on.

• Set Yes in the Cost Centres field in the Budget Creation/Alteration screen to set budgets for cost centres.

• In the Cost Centre Budget screen, select a Cost Centre from the List of Cost Centres and enter Cost Centre.

• Enter a budget figure in Expenses for the cost centre.

Creating a Budget

To create a Budget in Tally

• Go to Gateway of Tally > Accounts Info > Budgets > Create

• In the Budget Creation screen enter a Name for your budget.

   

• Select from the List of Budgets for Under field. You can have a hierarchical setup for budgets. In the List of Budgets, Primary is at the top of the hierarchy and you can create more primary budgets. Sub-budgets can be created under Primary budgets.

   

Set Yes in the Groups field in the Budget Creation/Alteration screen to set budgets for a group or group of ledgers.

In the Group Budget screen, select a Group from the List of Groups and enter Account Name.

Enter the cost centre for a group in Cost Centre. Select Not Applicable, if the budget is not for a particular cost centre, but for the company.

In Type of Budget, select from the following two types.

To create a Budget in Tally

• Go to Gateway of Tally > Accounts Info > Budgets > Create

• In the Budget Creation screen enter a Name for your budget.

   

• Select from the List of Budgets for Under field. You can have a hierarchical setup for budgets. In the List of Budgets, Primary is at the top of the hierarchy and you can create more primary budgets. Sub-budgets can be created under Primary budgets.