7. Expanses Control & Price Shcemes

Budget:-

An estimate of costs revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals. This feature will help the company to control its expances.

Step: 1. Activate features

Press F11 >> Accounting features (F1)
• Maintain budgets & control

Step: 2. Budget Creation
Accounts Info >> Budget >> Create
Set a budget for following groups & ledgers:

 

 

 

 

 

Step: 3. Pass the following entries
1. Purchase machinery by cheque of ICICI Rs 1,50,000.
2. Purchase building in cash Rs 5,00,000.
3. Purchase stationary in cash Rs 1,000.
4. Purchase furniture by cheque of ICICI Rs 80,000.
5. Paid for advertising Rs. 11,000.
6. Paid for carriage by cheque of ICICI Rs 5,000.

Step: 4. Now check the Report by using:
Display >> Trial Balance >> Press ALT + B (budget variance).

 

Price Levels :-

Price Level is an Inventory future. This is used to create some discounted schemes for various products to attract the customers. Every customer wants two things, Quality & Minimum Cost.
So if you Quality product, Than Give some discounts using this feature so that more customers will come to you.
One more thing, While Create invoice for Sale, You don’s need to enter any price or discount rates because you have given Price and Discount in Price level.

Step: 1. Activate Features

Press F11 >> Inventory Features (F2)
• Use multiple price level for invoicing >> Retailer.

 

Step: 2. Item Creation

Inventory Info >> Stock Items >> Create

 

Step: 3. Price Level Creation

Inventory Info >> Price List >> All Items >> Stock Groups

Set multiple price level for the following given name “retailer”.
1. Items:- Data Cable
Less than 50pcs @ 125/- pcs 3%
50pcs to 100pcs @ 125/- pcs 5%
100pcs to 250pcs @ 125/- pcs 8%
More than 250pcs @ 125/- pcs 10%

2. Item:- Nokia Battery
Less than 100pcs @ 400/- pcs 2%
100pcs to 200pcs @ 400/- pcs 5%
200pcs to 450pcs @ 400/- pcs 7%
More than 450pcs @ 400/- pcs 10%

3. Item:- Stabilizer
Less than 100pcs @ 700/- pcs 2%
100pcs to 200pcs @ 700/- pcs 4%
200pcs to 450pcs @ 700/- pcs 7%
More than 450pcs @ 700/- pcs 10%

Step: 4. GOT >> Accounting Voucher >> Press F8 (Sales) [Price list is applicable]
1. Sold goods to Birla Stores following goods from north Delhi godowns
[REF NO. SALE/BS/621].
Data Cable :- 400pcs
Stabilizer :- 150pcs
Nokia Battery :- 300pcs

Reconciliation:- This is used to reconcile the Pass book with your Bank Book that you have maintained in Tally. Suppose you have paid an amount of Rs 10,000/- to a Party on 29th of March.
On 31 March, You are Cross Checking the Pass Book with the Bank Book of Tally. You found, that there is no debit of Rs 10,000/-
It will unmatched both books.
So, To Reconcile both books, Use Reconciliation
Steps are :-
1. GOT > Display > A/C