Budget in Marg ERP Software

Overview/Introduction to Budget in Marg ERP Software

Process of Budget in Marg ERP Software

OVERVIEW/INTRODUCTION TO BUDGET IN MARG ERP SOFTWARE

A budget can be defined as the plan set by the firm for the flow of funds running in a particular organization.

Budget can be altered according to policies and procedures of the firm and is divided among accounts and budget control groups.

Whenever the user will define Budget for the business expenditures, it will give a notification at the time of billing for the exceeding amount in against with the preset limit.

 It not only enables businesses in preparing financial year budget for the company flow of funds but also provides assistance in making a comparison of their actual and budgeted figures for the variance at one single screen which in turn further helps in taking corrective measures, if any.

PROCESS OF BUDGET IN MARG ERP SOFTWARE

Firstly, Go to Masters >> Ledger Master >> Budget.

Fig 1.1 Menu View to Budget in Marg ERP Software

NOTE: The user can only create budget only for Expenses Ledger and Group whether direct or indirect.

Suppose, the user will select Office Expenses.

Fig 1.2 View to select budget ledger in Marg ERP Software

An Office Expenses window will get displayed. Here, the user will specify office expenses budget amount for each month.

Fig 1.3 View of Office Expenses window in Marg ERP Software

In order to specify office expenses budget amount for each month, the user will press “Enter” key.

Fig 1.4 View of Office Expenses window in Marg ERP Software

Enter the Budget amount. Suppose, 5000.

Fig 1.5 View to enter Budget amount in Marg ERP Software

Then, press down arrow key.

Fig 1.6 View of Office Expenses window in Marg ERP Software

Press Enter key.

Fig 1.7 View of Office Expenses window in Marg ERP Software

Now, the user will again enter the amount like 7000.

Fig 1.8 View of Office Expenses window in Marg ERP Software

So, in this way the user can set budget amount for each month.

Fig 1.9 View of Office Expenses window in Marg ERP Software

Now, the user will press Tab key.

Fig 1.10 View of Office Expenses window in Marg ERP Software

The user can now view that the cursor has moved to “Limit on Single Payment” i.e. the user can set the payment limit for Office Expenses here.

Fig 1.11 View of Office Expenses window in Marg ERP Software

Suppose, set here 1000 i.e. after setting payment limit if the user will create a voucher for office expenses and enter value greater than 1000 then it will display a warning that the user is exceeding the payment limit. The user can also continue to create the voucher with the exceed limit.

Fig 1.12 View to set payment limit in Marg ERP Software

Now, the user will press “Enter key”.

Fig 1.13 View of Office Expenses window in Marg ERP Software

Then press Escape key.

Fig 1.14 View of Office Expenses window in Marg ERP Software

The software will automatically save the budget which is being created as the user switches to the main window of Marg ERP Software.

Now, Go to Accounts >> Voucher Entry >> Payment >>Payment.

Fig 1.15 Menu view to Payment in Marg ERP Software

A Voucher Entry window will appear. Select the date.

Fig 1.16 View to select date in Marg ERP Software

Press Enter. A Ledger window will get displayed. Select ledger “Office Expenses”.

Fig 1.17 View of Ledgers window in Marg ERP Software

Now, the user will enter the debit amount. Suppose, enter 1200.

Fig 1.18 View to enter Debit amount in Marg ERP Software

Press Enter key.  An alert window will get displayed i.e. Request customer for immediate payment. 

Fig 1.19 View of alert window in Marg ERP Software

Now click on Ok.

Fig 1.20 View of alert window in Marg ERP Software

The user can now view that a warning window has been displayed i.e. “Exceeds Payment Limit of Rs. 1000”.

Fig 1.21 View of Warning window in Marg ERP Software

Now press enter if the user wants to continue creating the voucher with the exceeded limit. Fill the complete details.

Fig 1.22 View of Voucher Entry window in Marg ERP Software

Now, the user will save the changes.

Fig 1.23 View to save changes in Marg ERP Software

Again,Go to Masters >> Ledger Master >> Budget.

Fig 1.24 Menu view to Budget in Marg ERP Software

If the user wants to set budget amount annually, then press “Tab key”.

Fig 1.25 View of Office Expenses window in Marg ERP Software

The cursor will shift to Limit on Single payment. Again, press tab key.

Fig 1.26 View of Office Expenses window in Marg ERP Software

Set the annual budget amount here. Suppose, enter 100000.

Fig 1.27 View of Office Expenses window in Marg ERP Software

The user will now press enter key. The software will automatically divide the amount in each month.

Fig 1.28 View of Office Expenses window in Marg ERP Software

The user can now view that in Mar’2018, the budget is 8333.33.

Fig 1.29 View of Office Expenses window in Marg ERP Software

But, the actual expense of Mar’18 is 1200.

Fig 1.30 View of Office Expenses window in Marg ERP Software

In Variation column, the user can view the difference of both i.e. Budget and the actual amount.

Fig 1.31 View of Office Expenses window in Marg ERP Software

Process to Analyze The Budget Created:

Firstly, Go to Books >> Budget Analysis >> Ledger.

Fig 1.32 Menu view of Ledger in Marg ERP Software

A Budget Analysis window will get displayed. Select ledger Office Exp.

Fig 1.33 View of Budget Analysis window in Marg ERP Software

Now, the user will press “Enter” on Budget.

Fig 1.34 View to select Budget in Marg ERP Software

An Office Expenses window will be displayed where the user can analyze the budget.

Fig 1.35 View of Office Expenses window in Marg ERP Software