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NETWORK BASICS

Network A system of interconnected computers and computerized peripherals such as printers is called computer network. This interconnection among computers facilitates information sharing among them. Computers may connect to each other by either wired or wireless media. A computer network consists of a collection of computers, printers and other equipment that is connected together so that they can communicate with each other.  


Network application
A Network application is any application running on one host and provides a communication to another application running on a different host, the application may use an existing application layer protocols such as: HTTP(e.g. the Browser and web server), SMTP(e.g. the email-client). And may be the application does not use any existing protocols and depends on the socket programming to communicate to another application. So the web application is a type of the network applications. 
There are lots of advantages from build up a network, but the th…

Budgeting Systems

Budgeting System in Tally.ERP 9 is a plan prepared to ensure the flow of fund in an organization. It largely incorporates financial guidelines for the forthcoming plan of action for a selected span of time.  
Capital Budgeting Techniques for Small Business | JAXA Chartered ...
Budgeting helps a company to maintain a track of how much money it has, where its money is going and allocate those funds at any point of time. A proper budgeting system ensures a business to keep a track of its expenditure and make use of the funds effectively. Consequently, business owners can compare revenues and expenses with utmost ease, and more significantly, make better future investments. Taking care of the budgeting process is no longer a challenging task with Tally.ERP 9’s powerful and intuitive Budgeting feature. It enables users to create multiple budgets as per their requirements and include these figures in a financial statement. Now, users can compare the actual and budgeted figures along with variance right from one screen. 

To enable Budgets in Tally.ERP 9: 

• Go to Gateway of Tally > F11: Features (Accounting Features) 
• Set ‘Maintain Budgets and Controls’ to ‘Yes.’
 • Accept to save. 

Creating Budgets 

Budgets can be created for an individual ledger account, groups of ledger accounts and Cost Centers or for all of them. For example, we can generate budgets for traveling, advertisement, operations etc.  
To Create Budgets: 
• Go to Gateway of Tally > Accounts Info. > Budgets 
• Select ‘Create’ > Press ‘Enter’  
• Enter budget name in ‘Name’  
• Select ‘Primary’ in ‘Under’  
• Specify the ‘Period of Budget’ in ‘From:’ and ‘To:’ 
o For Group Budgets: 

If you want to track all expenses, you can generate Financial Budget as shown below: 

• Set ‘Yes’ under ‘Group’ in ‘Set/Alter Budgets of’> Press ‘Enter’ 
• In ‘Group Budgets’ screen, select the required Group in ‘Account Name’ 
• Select the appropriate ‘Type of Budget’ 
• Enter budget ‘Amount’ 
• Accept the screen 

Note: ‘On Closing Balance’ option is used to compare the closing balances of the Accounts with the budgets in the final statements. ‘On Nett Transactions’ is used to monitor the transaction amounts (not the balances) for a specified period. 

Altering and Deleting Budget  

Based on your requirement, you can make necessary changes to Budgets as per your requirement. To do these:  
• Go to Gateway of Tally> Accounts Info> Budgets> Alter 
To delete budget, press ‘Alt+D’ on the budget alteration screen. 

Displaying Budgets and Variances for Groups and Ledgers   

When the required budgets are formed, they can be displayed in the new columns in financial statement such as Balance Sheet, Profit & Loss Account etc. However, Business owners can use this handy feature in order to compare budgeting figures against the actual figures
Let’s incorporate the created Group Budgets in Trial Balance and view the variance: 

• Go to Gateway of Tally> Display> Trial Balance 
• Press ‘Alt+B’ or click on ‘B: Budget Variance’
• On the Variance Analysis screen, select the appropriate Budgets> Press ‘Enter’ 
Displaying Budgets for Cost Centre By default, the cost centre report in Tally.ERP 9 automatically shows the value of Budgets and Variance with the corresponding actuals based on the last voucher entry date. Tally enables its user a significant and useful capabilities for time based on allocation of budget amount. Therefore, if a user changes the time period, say from yearly to quarterly, Tally automatically allocates the related amount based on the period selected. Hence, variance is based on the original amount and the proportional budget for that time period. To display this:  • Go to Gateway of Tally> Display> Statements of Accounts> Cost Centres> Category Summary 

Tally.ERP 9 provides a handy option to view the budgets and variance based on month, half-year, quarter, fortnight etc. To do this:  
• Press ‘Alt+N’ 
• Select the required ‘Column Details’ 
• Set ‘Yes’ to ‘Show Total Column’ and press ‘Enter’ 

With Tally.ERP 9, Budgeting for future business planning and deriving information on how the funds have been utilized easily with the ability to see variance in the budgets based on user specified time periods. 

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