Read the below-given business scenario and implement it in Tally.ERP 9 by creating a company for Raman Research Centre.
Raman Research Centre is a research company owned by Mr Raman. He wants to plan and track the expenses
| Expenses Name | Period | Budgeted Amount | Budget Type |
| Advertisement Expenses | Q1 – AMJ | 1,00,000 | On Closing Balances |
| Sales Bonus | Q1 – AMJ | 1,00,000 | One Nett Transactions |
Record the below transactions
| Date | Transaction details | Amount |
| 01-04-2019 | Payment made for Advertisement Expenses | 20,000 |
| 30-04-2019 | Payment made for Sales Bonus | 30,000 |
| 05-05-2019 | Payment made for Advertisement Expenses | 25,000 |
| 30-05-2019 | Payment made for Sales Bonus | 30,000 |
| 25-06-2019 | Payment made for Advertisement Expenses | 20,000 |
| 30-06-2019 | Payment made for Sales Bonus | 50,000 |
Teach Well Ltd is willing to track Indirect Expenses and Direct Incomes for the whole year and compare with budgeted amounts.
| Group Name | Period | Budgeted Amount | Budget Type |
| Indirect Expenses | FY–2019-20 | 10,00,000 | On Closing Balances |
| Direct Income | FY – 2019-20 | 20,00,000 | On Closing Balances |
Record the below transactions
| Date | Transaction details | Amount |
| 20-04-2019 | Tuition Fees received | 75,000 |
| 30-04-2019 | Salaries paid | 50,000 |
| 05-05-2019 | Tuition Fees received | 1,25,000 |
| 30-05-2019 | Salaries paid | 60,000 |
| 30-05-3019 | Advertisement expenses paid | 40,000 |
| 25-06-2019 | Tuition Fees received | 1,45,000 |
| 30-06-2019 | Salaries paid | 75,000 |
| 30-06-2019 | Commission paid | 30,000 |
| 20-07-2019 | Tuition Fees received | 1,90,000 |
| 30-07-2019 | Salaries paid | 70,000 |
| 31-07-2019 | Office Rent paid | 40,000 |
Ideal Paints Ltd is having salesmen and fixes targets for their performance, every half year it does performance review against targets.
| Salesman Name | Period | Budgeted Amount | Budget Type |
| Anil Sharma | HY–Apr 19 to Sep 20 | 8,00,000 | On Closing Balances |
| Srinivasan | HY–Apr 19 to Sep 20 | 10,00,000 | On Closing Balances |
Record the below transactions
| Date | Transaction details | Amount | Salesman |
| 18-04-2019 | Sales | 88,000 | Srinivasan |
| 25-04-2019 | Sales | 72,500 | Anil Sharma |
| 04-05-2019 | Sales | 44,500 | Anil Sharma |
| 25-05-2019 | Sales | 98,000 | Srinivasan |
| 28-05-3019 | Sales | 23,300 | Srinivasan |
| 20-06-2019 | Sales | 55,500 | Anil Sharma |
| 22-06-2019 | Sales | 35,550 | Srinivasan |
| 28-06-2019 | Sales | 49,990 | Anil Sharma |
| 15-07-2019 | Sales | 74,440 | Srinivasan |
| 30-09-2019 | Sales | 88,880 | Anil Sharma |
| 30-09-2019 | Sales | 44,440 | Srinivasan |
1. Find out budget utilization for all Business Scenarios
2. View Budget variance report
Below are the outcomes after recording transactions in business scenarios, this is for your reference to ensure you have done it properly.
1.1. Budget Variance Report – Business Scenario I
1.1. Budget Variance Report – Business Scenario II
1.1. Budget Variance Report – Business Scenario III
