How to Manage your Business Expenses using Tally ERP 9?

Tally ERP 9 has come up as a leading Enterprise Resource Planning software serving a huge list of small and medium sized businesses worldwide with the most optimum Accounting and Inventory Management tasks. Owing to its undeniable perks like concurrent data access and authoritative control over the real-time data, Tally ERP 9 solutions have earned many rewards and recognition as the best ERP solution for businesses. With Tally ERP solutions serving in various streams like Accounting, Inventory Management, Banking, Billing, Payroll Management, Taxation and Record Keeping, it supports a great potential for empowering businesses and managing various investments and expense graphs.

In order to manage your day-to-day business expenses, you need to first track your business expenses using a suitable recordkeeping platform, where the role of Tally ERP 9 solution is highlighted. Keeping in mind the budget constraints, the Tally software with its various reports can help you to judge and vary your future business investments, thus limiting the business expenses.

Here are some features of Tally ERP 9 software, which will surely help you manage your business expenses optimally:

1) Scenario Management Tool:
One of the most preferred and effective tools that are built into Tally ERP 9 solution software is the Scenario Management tool. This tool is responsible for the keeping handy reports of all accounts and inventories. This tool works on the provisional results of each query related to change in statistics that a user makes. Basically, with this tool a user can find answers to his questions like – What would be the total profit if the business expenses increase by 20%?, What would be the business expense Vs Profit Ratio if there is a 10% increment in salaries. If the profit needs to be increased by 10%? by what percent the business expenses need to be decreased? With this, the results produced are provisional and the main data source is not affected. The


The Scenario Management tool is utilized using various vouchers that don't affect the actual report data. The three vouchers that are employed for the Scenario Management tool are Optional Vouchers, Reversing Journal vouchers and Memorandum vouchers. By using the Scenario Management tool of Tally ERP 9 software you can forecast your business profits on the basis of your expected business expenses and manage them accordingly.

2) Budget Tool:
Another essential tool that forms the basis of business expense management through Tally ERP software is the Budget tool. Tally ERP 9 gives you the authority to make a budget for your business with this tool and this budget can be used for comparison with your revenue and expenditure. The Budget tool displays the explicit financial health of your business, thus helping you in the smart allocation of the funds. Further helping you with a smart business expense management the Budget tool helps you assess your profit Vs expenditure ratio and track the expenses according to the set budget.

3) Credit Control
The Credit Control tool comes up as a unique feature of Tally ERP 9 solution software that serves the perk of setting automated credit limits to ledgers. The tool with its automation capabilities allows you to set credit limits to each individual ledger based on your business expenses. With this, this credit limit can be altered functionally from one ledger to another. By setting this credit limit you have a handy control over the expenditure limits and thus the total billing. Thus, with this limit, you can also track the clients who have met the set limits and the clients who regularly clear the bills. Thus, giving you a better hold of your investment areas and ROI areas. Serving as a reminder of your set credit limits the Credit Control tool of Tally ERP new version allows you the greater functionality of setting different credit limits for the same client.

With the above set of tools and other common features, Tally ERP 9 solution software is surely a great solution for managing the business expenses of your organization. With this, to get a well-customized industry specific Tally ERP 9 software for managing your business expenses optimally or to get optimized tally solutions in Jaipur or overseas, you can contact us at - http://www.tallysolution.org/tally-erp-9/