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A budget is a plan for your future income and expenditures that you can use as a guideline for spending and saving.Without having a proper budget any project will not be able to survive after the initial phase. NFRA comes with the assurance to user that proper budgeting will be done, so that the influx of income does not lowers in accordance to expenses at any point of time.
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A budget is a plan for your future income and expenditures that you can use as a guideline for spending and saving.Without having a proper budget any project will not be able to survive after the initial phase. NFRA comes with the assurance to user that proper budgeting will be done, so that the influx of income does not lowers in accordance to expenses at any point of time. Budgeting Grow Faster & Profitable
Budget configuration Material and other direct costs are computed by this section by taking the base price from master. The base price are regularly updated from either the last services rendered or taken from market. User can configure budget according to invoice, order, category or lump sump wise.
Item wise budgeting In this type of budgeting the user first needs to select the inventory category, for which he\she wants the budgeting. After the selection of inventory, the budgeting can be done for different items like raw item, labor, subcontractor, etc.
Category wise budgeting Category wise and item wise allocations can be done through NFRA. In category wise allocation, prices of all the items under the category are considered before allotting the budget. In item wise the budget is allotted individually to each item.
Budget validation The budget is allotted for every item on the basis of available funds. If a purchase order is raised and the budget for that item is under the allocated budget then it is validated and forwarded but if it is over budget, the purchase order is sent back for further approval.
Budget summary report The budget summary report provides with all the information about a project (regarding budget), like order value(with & without profit), budgeted value, utilized amount, balance, budgeted profit and net profit. All the above information allows user to keep a check on the budgeting of a project at any point od time and plan the preceding activities accordingly.
Budget cost center Cost center provides the administrator with the option to select how to separate the budget entities i.e. item wise, category wise or department wise.
conclusion Managing the available funds while making the purchases and keeping the profits in mind at all point of time can be easily done through NFRA. http://www.eresourceerp.com http://nfra.eresourceerp.com
