II – Advanced Accounting Features:
Ledger of a Customer or Supplier shall show the Closing balance on a particular Date. But it is not sufficient to collect or Pay-Off dues. In the modern business world, every bill would be marked with its own due dates. It may be based on movement of stock item, brand value, season, amount, customer base, dealer base and so on. For example, an ice cream company may set nearest due date during summer but cannot do so when it is winter. A branded Sweater manufacturer will behave the other way around.
So, for every business man, it is important to know when to collect or pay each and every bill. It cannot get ascertained from mere balance of the ledger. He has to input bill wise details and monitor periodically to know when bill are getting overdue.
Suppose, one is calling his customer for settlement immediately after the bill date, he will loose his business. In case, he forget to call even after due date, his customers business will grow at his cost. Both extremes are dangerous for any good business.
Bill Wise Details:
Tally ERP 9 enables ‘Bill wise details’ feature when it creates company. To witness this, press F11, F1 keys one by one.
The following options also available:
Enabling ‘Bill wise Details’ Feature
Enabling Feature in Ledger
Entering or Adjusting bill details in vouchers
Display of Bill wise details report
Printing Bill wise details
Applying Bill details feature to non-trading accounts
Usage of post-dated voucher
Chapter – 5 Bill Wise Details
Exercise 1:
Assume that M/s Bill-2-<Regn. No> a home appliances company wants to keep their Receivables and Payables up to date. Their office is at 12/49 N H Road, Coimbatore. They provide the following details
Party Details:
Party Address Credit Period Date Bill No Amount
SundryCreditors
Samsung India 156, Sipcot 15 days 18/3/XX 45566 25630 Cr
27/3/XX 46001 15420 Cr
LG 21, 15th sector 15 days 30/3/ XX LG/15600 36485 Cr
Electronics
Sundry Debtor
Vasanth Bros 15, Ram Nagar 7 Days 29/3/XX 0968 42780 Dr
Purchase/Sales Details
Bill No Billed By/To Stock Item Qty Rate Amount
46898 Samsung Samsung 32” Lcd Tv 5 25490 127450
Samsung Home Theatre 10 9990 99900
0972 Vivek Samsung Home Theatre 6 12500 75000
Agencies
0973 Vasanth Samsung 32” Lcd TV 4 30550 122200
Bros Samsung Home Theatre
LG/15791 LG Elec LG 32” LCD TV 6 24990 149940
LG Home Theatre 6 10500 63000
0974 Vivek LG 32” LCD TV 4 29990 119960
Agencies LG Home Theatre 3 13150 39450
0975 Vasanth LG 32” LCD TV 1 29990 29990
Bros LG Home Theatre 2 13150 26300
Payment/Collection Details:
From/To Cheque Bill No. Amount
Samsung 564172 45566 25630
Vivek Agencies 457895 0921 37800
Vasanth Bros 107823 0968 42780
VivekAgencies 457920 0957 26580
73420
Total = 100000
LG Electronics 564186 LG/15600 36485
Vasanth Bros 107910 0973 75000
Samsung 107926 46001 15420
46898 184580
Total = 200000
II – Advanced Accounting Features:
Chapter – 5 Bill Wise Details
Ledger of a Customer or Supplier shall show the Closing balance on a particular Date. But it is not sufficient to collect or Pay-Off dues. In the modern business world, every bill would be marked with its own due dates. It may be based on movement of stock item, brand value, season, amount, customer base, dealer base and so on. For example, an ice cream company may set nearest due date during summer but cannot do so when it is winter. A branded Sweater manufacturer will behave the other way around.
So, for every business man, it is important to know when to collect or pay each and every bill. It cannot get ascertained from mere balance of the ledger. He has to input bill wise details and monitor periodically to know when bill are getting overdue.
Suppose, one is calling his customer for settlement immediately after the bill date, he will loose his business. In case, he forget to call even after due date, his customers business will grow at his cost. Both extremes are dangerous for any good business.
Bill Wise Details:
Tally ERP 9 enables ‘Bill wise details’ feature when it creates company. To witness this, press F11, F1 keys one by one.
The following options also available:
Enabling ‘Bill wise Details’ Feature
Enabling Feature in Ledger
Entering or Adjusting bill details in vouchers
Display of Bill wise details report
Printing Bill wise details
Applying Bill details feature to non-trading accounts
Usage of post-dated voucher
Chapter – 5 Bill Wise Details
Exercise 1:
Assume that M/s Bill-2-<Regn. No> a home appliances company wants to keep their Receivables and Payables up to date. Their office is at 12/49 N H Road, Coimbatore. They provide the following details
Party Details:
Party Address Credit Period Date Bill No Amount
Sundry
Creditors
Samsung India 156, Sipcot 15 days 18/3/XX 45566 25630Cr
Ltd
LG 21, 15th sector 15 days 27/3/XX 46001 15420 Cr
Electronics New Delhi
Sundry
Debtors
Vasanth Bros 15, Ram Nagar 7 Days 30/3/XX LG/15600 36485Cr
Purchase/Sales Details
Bill No Billed By/To Stock Item Qty Rate Amount
46898 Samsung Samsung 32” Lcd Tv 5 25490 127450
Samsung Home Theatre 10 9990 99900
0972 Vivek Samsung Home Theatre 6 12500 75000
Agencies
0973 Vasanth Samsung 32” Lcd TV 4 30550 122200
Bros Samsung Home Theatre
LG/15791 LG Elec LG 32” LCD TV 6 24990 149940
LG Home Theatre 6 10500 63000
0974 Vivek LG 32” LCD TV 4 29990 119960
Agencies LG Home Theatre 3 13150 39450
0975 Vasanth LG 32” LCD TV 1 29990 29990
Bros LG Home Theatre 2 13150 26300
Payment/Collection Details:
From/To Cheque Bill No. Amount
Samsung 564172 45566 25630
Vivek 457895 0921 37800
Agencies
Vasanth Bros 107823 0968 42780
Vivek
Agencies 457920 0957 26580
0972 75000
LG 564186 LG/15600 36485
Electronics
Vasanth Bros 107910 0973 75000
Samsung 107926 46001 15420
46898 184580