Tally ERP9 - Statements of Accounts

Accounts.1.3 Statements of Accounts

Tally.ERP 9 provides you capability to generate, print, mail or upload various Financial Statements and reports viz., Balance Sheet, Profit & Loss A/c, Trial Balance, Cash Flow, Fund Flow, Receiva- bles, Payables & Stock Statements and so on.

1.3.1 Receivables and Payables Management

Accounts Receivables are the amounts that you are to receive from the sundry debtors while Accounts Payables are the amounts you have to pay to sundry creditors. Tally.ERP 9 provides complete bill wise information of amounts receivable as well as payable, either on party wise, group wise or Billwise. This feature tracks bills, payments/receipts including advances on one-to- one basis.

To view Outstandings:

Set Maintain Bill-wise Details to Yes in F11: Accounting Features

Create a Party (Ledger A/c) under Sundry Debtors / Sundry Creditors group

Set Maintain balances bill by bill to Yes for the parties during ledger creation

Go to Gateway of Tally > Accounting Vouchers > Sales (F8) or Purchase (F9) accord- ingly and enter the transaction by specifying a Bill reference No. along with due dates for the amount to be received or paid in the Bill Allocations for screen(you can also break up the amount into multiple reference numbers with different due dates)

To view Receivables / Payables Reports

Go to Gateway of Tally > Display > Statement of Accounts > Outstandings > Receivables (to view due to the company).

The report displays bill-by-bill outstanding for all the parties with the pending amount alongwith the due date.

To view amounts payable by your company, select Payables in the Out- standings menu. You can also toggle between Payables or Receivables reports, by clicking F4.

To view individual Party wise outstanding,

Select Ledger in the Outstandings menu,

You will get a report displaying bill-by-bill details of all outstandings for the concerned party along with the total outstanding amount. You can also view details of cleared bills, by using the options in the button bars.

To View Group Outstanding Reports:

Select Group in the Outstandings menu and then select the specific group or sub group.

You can also view Ageing Analysis of Oustandings, by defining various ranges of periods and view outstanding across the specified time slabs. For eg., you can specify 0 to 30 days, 30 to 45 days and 45 to 75 days and so on.

To View Ageing Analysis Report

Go to Gateway of Tally > Display >Outstandings >Receivables or Payables

Select F6 (Age wise)

Specify Ageing Methods and the Periods

You may also view the Ageing Analysis report by due date or by bill date.

1.3.2 Group Summaries

The group summary statement shows the closing balances of the accounts of a selected group for a specified period up to the current date. The default view is that of sub-groups within a group.

To view Group Summary,

Go to Gateway of Tally > Display > Account Books > Group Summary

Select a Group (Sundry Debtors / Sundry Creditors or any other group or you may select Primary to display summary for all the groups)

Press Alt+F1 for detailed view

1.3.3 Columnar Reports

Tally.ERP 9 provides columnar reports for transactions of Sales, Purchase and Journal as well as specific Ledgers and Cash / Bank Books.

To view Columnar Reports,

Go to Gateway of Tally > Display > Account Books

Select a register (Sales/Purchase/Journal).

Drill down to the List of Vouchers

Press F5 to view columnar reports as shown in the figure below (This is an option to choose the ledger accounts or configure the columns to contain the required information)

Different type of reports can be generated for each of the primary statement/ report generated in Tally.ERP 9. It is to be noted that Tally.ERP 9 provides the columnar comparison of data for different periods and budgets only for the Group Summary.