The details of all the sales and purchase transactions made with the debtors and creditors have to be maintained at all invoice level. In order to maintain these details Tally ERP 9 provides a feature called Bill-Wise Details for bill-wise accounting. In this section you will learn to :
- Maintain details of bills.
- specify credit periods.
- Obtain receivable and payable reports.
- Relate every entry with the relevant transaction.
Activaing Bill-Wise Details
1. Pess F11 Features (Accounting Feature)
2. Type Yes for Maintain Bill-Wise Details.
3. Type no for Non-Trading A/cs.
4. Accept the setting, by pressing CTRL + A.
Entering a Bill-Wise Details for a purchase Voucher (New Reference)
1. On 01-04-2019 received a goods invoice number PLC for 10 nos HP – 27 Printer Cartridge from Power Line Computers at Rs. 850. The goods were stored in On-Site godown.
(i) Create a new supplier Ledger – Power Line Computers under Sundry Creditors with Maintain Balances bill-by-bill set to yes.
(ii) Create a stock group of printers.
(iii) Create a Unit of Measures of nos.
(iv) Create a Godown – Onsite.
(v) Create a new stock item with the following details:
Name: HP – 27 Printer Cartridges
Under : Printers
Units : Nos
Quantity : 10
Rate : 850
–> Create Purchase Voucher:
1. Create a Ledger of Purchase under Purchase Accounts.
2. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.
3. Select As Voucher mode by pressing (Ctrl + V)
4. Enter PLC in the supplier Invoice No. (Reference) field below the purchase Voucher number.
5. Credit : Power Line Computer.
6. Amount : 8500 Cr.
7. On selecting, New Ref, PLC is displayed automatically in the field.
8. In the Credit Period field enter 15, which is 15 days from the effective date of the invoice.
9. Click on the button F12 : Configure and set Yes to the following options:
— Show inventory details
–Show bill-wise details
–Show current balances of ledger
–Show balance as on Voucher Date
–Godown : Onsite
–Stock Item : HP – 27 Printer Cartridges
–Rate : 850
Press Y or Enter to accept the Voucher.
2. On 02-04-2018, sold 5 pcs of HP – 27 Printer Cartridge to FirstCom Solutions @ Rs. 1,150 from On-Site godown.
1. Create new customer Firstcom Solutions (Under Sundry Debtors with Maintain balances bill-by-bill set to Yes and set default Credit Period as 7.
2. Create Sales-printer under Sales Account with Inventory values are affected to Yes.
3. In F12: Configure (Sales Invoice) and set Yes to Accept Supplementary Details to view Dispatch Details buyer details etc.
— Create Sales Voucher
(1) Go to Gateway of Tally > Accounting Voucher > F8 Sales
(2) Sales As Invoice
(3) Party Ledger : FirstCom Solutions
(4) Stock Item : HP – 27 Printer Cartridges
(5) Godown : Onsite
(6) Quantity : 5
(7) Rate : 1,150
(8) Press enter (the amount will be calculated automatically)
(9) Select Sales-Printer in the particulars field.
(10) In the Bill-Wise Details Screen:
Type of Ref : New Ref
Name : FC1
Credit Date : 7
Amount : 5,750 Dr.
Accept the screen.
Let us now create one purchase and one sales voucher with the following data:
1. On 01/08/2018, purchased 5 nos HP – 27 Printer Cartridges @ Rs. 850 from Power Line Computers with the invoice number – PLC1. Credit period allowed – 30 days.
2. On 02/08/2018 sold nos HP – 27 Printer Cartridges to FirstCom Solutions @Rs. 1150. Credit Period allowed – 455 days, select new ref and enter FC2 in the Name field of Bill Wise details screen. Allocated to sales components.
During an invoice entry, to alter the credit period go to Gateway of Tally > Accounting Voucher > F8 Sales (in invoice mode) > click on F12: configure and set allow modification all fields during entry to yes and then make the entry.
Power line Computers now has two outstanding purchase invoices and FirstCom Solutions has two outstanding Sales invoices. this data can be viewed in Ledger outstanding statement.
Go to Gateway of Tally > Display > statement of Accounts > outstanding > Ledger
Select Power Line Computers from List of Ledgers to show the outstanding purchase invoices.
Entering a Bill-wise payment – Against Reference
- On 01/04/2018, you pay Power Line Computers the full amount for their invoice numbered PLC.
Go to Payment Voucher then
Click on F12: Configure.
Set Yes to Show Table of Bills for selection (to view the list of pending bill references) and Use Single Entry mode for Pymt/Rcpt/Contra.
- Go to Gateway of Tally > Accounting Vouchers > F5: Payment.
- In the Account field, select Bank Account (note that we are crediting ‘Bank Account’).
- Under Particulars, Select Power Line Computers.
- Enter Rs. 8500 in the amount column.
- In the Bill-wise Details screen, select Agst Ref and press Enter.
- Select PLC, 15 days and keep pressing Enter until the Narration field is highlighted.
- In the Narration field, type Ch. No. 1234.
- Press Y or Enter to accept the voucher.
To ensure that the payment has been recorded against the correct invoice,
- Go to Gateway of Tally > Display> Statement of Accounts > Outstanding > Ledgers > Power Line Computers.
- You will see that there is only one entry.
- In order to view the history of settled invoice, press F12: Configure and tab down to Range of Bills to show and select All Bills. Select Detailed in the button bar.
- Delete the bank payment entry of 01/04/2018 and make the same entry.
- In F12: Configure, set Yes to Pre-allocate Bills for payment, you will notice that the list of pending bills is displayed immediately after selecting Power Line Computers.
- Select PLC in bill-wise details and accept the entry (this features is useful foe cheque printing).
- Now, after completing the above entry, set the option Pre-allocate Bills for payment to No.
Entering a Receipt Voucher with Bill-wise details.
FirstCom Solutions pays the full amount of their first invoice on 01/04/2108.
In F12: Configure (Receipt Configure)
- Set Use Single mode for Pymt/Rcpt/Contra to No.
- Set Show Table of Bills for selection to Yes.
- Create Receipt Voucher
Go to Gateway of Tally > Accounting Voucher > F6: Receipt
- In the Voucher Creation screen, credit FirstCom Solutions for Rs. 5750
- In the Bill-wise Details screen,
- Select Agst Ref as Method of Adj
- Select FC1 from the Pending Bills to adjust the receipt against the first entry in the list.
- Press Enter to accept the screen.
- Keep pressing Enter until the next Particulars field is highlighted.
- Select On Account.
- Accept the entry.
Display Age-wise Outstanding Statements
- Go to Gateway of Tally > Display > statements of Accounts > Outstandings > Ledgers > Power Line Computers.
- The invoice due to them is displayed with due dates and overdue days, if any.
- Change period of display from 01/ 04/18 to 02/08/18. (By pressing F2)
- Press F6: Age-wise and Select By Bill-date.
- In the credit period sub-screen, enter 0 to 7, 7to 15, 15 to 45, 45 to 0.
- Note that the age of the invoices is segregated by the credit period.
- Press Alt+F1 and view the Age-wise Analysis for Power Line Computers in detailed mode.
- Press F12: Configure and set the option Show Qty Info in Detailed Format to Yes and Range of Bills to Show as All Bills.
- On 01/04/2018, make a Bank Payment (State Bank of India Account) for Rs. 15000 against a purchase order PO/001/2009-10 raised on New Stocker.
- Create New Stockers Ledger under Sundry Creditors and set the option, Maintain balance bill-by-bill to Yes.
- Create Purchase Account under Purchase Account and set Inventory Values are Affected to Yes.
- Step 1 : Create Bank Payment Voucher
- In the Bill-wise details screen,
- Select Advance as the Type of Ref
- Enter PO/001/2018/19 as reference.
- Step 2: Create Purchase Voucher
- Record a Purchase Voucher entry on 01/04/18 for Rs. 45,000
- In the Bill-wise Details screen, select Agst Ref to adjust the advance of Rs. 15000.
- Accept the purchase entry.
- Display Ledger Outstanding Statement
- Go to Gateway of Tally > Display > Statement of Accounts > Outstandings > Ledger > New Stockers > F1: Detailed.
- On 01/04/2018, raise a sales invoice on New Buyer for 1 Nos of New Stock Item @ Rs. 1,000 vide Bill/001
- Create a ledger New Buyer under Sundry Debtor, set Yes to Maintain balance bill-by-bill; Credit Period – leave it blank.
- Create an item New Stock Item under Primary Stock Group with an opening balance of 100 Nos and rate Rs. 500 stored in the Bangalore Godown.
- Step 1: Create Sales Invoice
- Raise a sales invoice on 01/04/2018 on New Buyer for Rs. 1,000.
- Select New Stock Item – 1Nos @ Rs.1,000
- Type bill reference as New Ref – Bill/001.
- Create Sales ledger, if not created.
- Similarly, create 3 sales invoices on New Buyer
- On 2nd July for Rs. 8,000 (Bill reference – Bill/002), Stock Item will be New Stock Item &Quantity 8 Nos.
- On 1st August for Rs. 14000 (Bill reference – Bill/003), Stock Item will be New Stock Item &Quantity 14 Nos.
- On 2nd August for Rs. 4,000 (Bill reference – Bill/004), Stock Item will be New Stock Item &Quantity 4 Nos.
- Step 2 : create Receipt Voucher
- Make a Receipt entry on 01/04/2018 for Rs. 15,000 received by cheque. (this is to indicate money received from New Buyer).
- In the Bill-wise details screen, select On Account as the details of the sales bills to be cleared are not provided.
- Bill-wise Outstanding Report
After creating the sales and receipt entries, to display the Billwise outstanding report of New Buyer.
The ledger outstanding report shows the details of four sales bills marked with a bill-wise reference and one receipt entry marked as On Account (On Account is displayed as we have not received details of the bill against which the payment has been received).
- Payment performance of Debtors
To view Payment Performance of Debtors report,
Go to Gateway of Tally > Select Ratio Analysis.
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