Secret 2 – A small leak will sink a great Ship

Cash Flow matters to your business

Secret 2 – A small leak will sink a great Ship

A Penny Saved is a Penny Earned

  • Beware of your spending’s even on little expenses
  • Prior Identification of spending and Set Budget
  • Track excess spending and plan to reduce it

Challenges in Cost Control and Cost Analysis

  • Difficulty in configuring the cost controls techniques/tools into the system
  • Time and effort you have put into gathering data for reporting purpose
  • Difficult in drawing insights if reports are not simple to interpret

Cost Management in Tally.ERP

  • Availability of Reports on click of a button at blazing speed helps to save time and efforts
  • Easy to set-up the cost units and budgets – One time setup
  • Effortless comparative analysis across period, cost unit/departments/expenses etc. gives better insights for decision making

Cost Control and Cost Analysis

  • Allocate the expenses while recording voucher to cost centers created

  • The cost centre reports gives you the insights about the department-wise/unit-wise details to identify and reduce the spending as applicable

  • Comparative analysis across period will give you insights about month-wise spending and helps in taking decision to optimize the cost

Cost Control and Cost Analysis – Budget Control

  • Setting up goals and budget for planned expenditure will help you to plan and track your spending. This is one the best cost optimization technique
  • In Tally.ERP 9, it is simple to set the budget at various levels such as specific type of cost, for particular department etc. and track it later

  • In order to optimize your cost, it is very important to track the actual spending VS the budget.
  • This will help in taking decision at a right time instead of doing the retrospective analysis at the end of budgeted period

Item-wise sales profitability

  • It is important to track item-wise profitability to know which are the high profitability products and accordingly plan your inventories

Free Download

Submit this form to get “7 Secrets Bringing Prosperity to Your Business”

Your Name *

Email Address *
Phone Number

Summary
Secret 2 – A small leak will sink a great Ship
Article Name
Secret 2 – A small leak will sink a great Ship
Description
Secret 2 of 7 – A small leak will sink a great Ship
Author
Publisher Name
Orson Automation
Publisher Logo
By | 2018-10-26T06:44:59+00:00 October 25th, 2018|Uncategorized|0 Comments

Leave A Comment