Budgeting Software of Medlin Essay
Medlin software is very renowned company in the field of information technology. The company provides a wide range of software with latest technology. Budgeting software package of the company is built with many features. These features make the software user friendly. Features available with budgeting package are mentioned below:
- The main feature of the software is to help in making various types of budgets.
- Clients of this software can compare the actual reports and created budget. One can find the difference between the actual and standard budget.
- This software provides the chart facility. With this various types of charts can be prepared such as pie chart, line charts, bar charts etc. It can take print also.
- It can make the value in round off figure. For example, if the value is 44.70, it will make them 45.
- Customer can take print of the compared actual income and expenses statement with budgeted statement (Budgeting Software, 2009).
Budgeting is widely used by the companies as a tool of controlling. Hence, companies prepare budgets to control the unproductive expenses and forecast the future need. The Medlin Budget Software helps the company acquire control over various departments. Budgeting software of medlin provides lot of features.
The comparison between actual report and budgeted figure is one of the significant features. With help of this software, company can compare actual figures with budgeted figures time to time and can take corrective actions if there are any variations. For example, if the company has an expenses forecast for the sales department of $15000, but the actual expenses are $20000. By using this software, company can evaluate the budgeted figure with the actual ones and can take the curative actions (Budgeting Software, 2009).
Budgeting software prepares several budgets such as sales budget, administrative expenses budget, cash budget, master budget etc. By using the Medlin Budgeting Software, company can coordinate all departments within the organization. The company creates the master budget and all the departments have to follow that budget. Therefore, each department works together to achieve the predefined figures in the budget. Hence, the features of Medlin Budgeting Software help the company in maintaining an effective coordination (Budgeting Software, 2009).
Medlin Accounting Shareware is a budgeting software package. It can be said that this software can be used to create standards for evaluating performance. This software is simple and easy to use. It provides many possibilities for evaluating business performance. It can also be used for telecommunication accounting. It can also be used to choose the software, products and development options. Medlin Budgeting Software creates the standards for investment strategy, stock chart and evaluates the company’s performance. Medlin Budgeting Software creates the standard for comparison between the actual and budgeted values (Budgeting Software, 2009).
There are many players in the budgeting software market. Company can also use other budgeting software’s which are mentioned below as:
- Budgeting software of power plan (power Plan).
- NeuroXL Predictor
- Budget planner
- White birch planning software
- Prophix softwre
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Power Plan. Retrieved April 29, 2009, From http://www.powerplancorp.com/?gad=CNyA38MBEghNgLj0o3nRaBjo7IP9AyDgsYwN&OVRAW=Budgeting%20Software&OVKEY=budgeting%20software&OVMTC=standard&OVADID=7599651011&OVKWID=45545408011
Budgeting Software. (2009). Retrieved April 29, 2009, from www.medlin.com/budget.htm+budgeting+site:medlin.com&cd=1&hl=en&ct=clnk