Budgets and Controls in TallyPrime

Budgets are useful when management wants to compare actual income or expenditure against an approved financial plan rather than only reviewing historical numbers.

Where budgets can help

• Department expense budgets
• Ledger or group-level spending plans
• Cost-centre monitoring
• Periodic management review

Budget vs approval workflow

A budget report shows variance against a plan, but it is not automatically the same as an operational approval system. Businesses needing maker-checker or pre-spend approval may require additional process controls.

Start with a usable level of detail

A small number of meaningful budgets is often more useful than an overly detailed model that is difficult to maintain.