MAINTAN BILL WISE DETAILS

This feature in Tally maintains details of all pending credit bills of customers and suppliers. The various details are.

a) Original date of each bill b) due date of each bill c) adjusted amount against each bill d) pending amount of each bill e) no. of overdue days.

            At the time of raising the invoice terms and conditions of sale and payment will be settled with the customer. When there are pending bills from a customer and when he makes payment this amount should be adjusted against the pending bills according to the terms and conditions settled with the customer.

Procedure:-  

1. Active this feature from the accounting features of tally

2. While recording a purchase or sale or receipt or payment transaction, after selecting the party account and entering the amount “Bill wise details screen” will be displayed here the following information should be entered.

A. Advance:-  Select this method of adjustment when the customer pays advance before delivery of goods.

B. New Reference :- Select this method of adjustment in case of a fresh sale or purchase transaction without advance.

C. Against reference:  Select this method of adjustment when the customer pays any amount and when there are pending credit bills. Now a list of pending bills from this customer will be displayed select the bill to be adjusted and enter the amount of adjustment.

D. On Account: Select this method of adjustment when details of pending bills are not available and there is outstanding balance in a customers A/c.

3. Enter the number of credit days the system will calculate the due date.

4. Enter the amount.

            This feature can also be used for maintaining details of pending purchase bills of the suppliers.

Generating details of pending bills:-

Gateway of tally à Display à Statements of accounts out standing à Receivables / Payables.

Age wise report of pending bills showing number of days as column headings may also be generated by clicking age wise button and entering the no days to appear as column headings.

For Eg. 0-30 days, 31-60 days, 61-90 days,90-120 days, more than 120 days.

            The above report is useful for sending periodical statements to the customers showing the details of pending bills with suitable warnings.