Age-wise Analysis for Bills Receivable/Payable Report in TallyPrime

The Bills Receivable/Payable report itself doesn’t directly offer age-wise analysis functionality in TallyPrime.

However, you can achieve an age-wise breakdown of Bills Receivable (outstanding sales bills) or Bills Payable (outstanding purchase bills) using the following approach:

1. Utilizing the Bills Receivable/Payable Report with Ageing Analysis

  1. Go to the Gateway of Tally (Alt+F12) in TallyPrime.
  2. Navigate to one of the following options depending on your requirement:
    • Display > More Reports > Statements of Accounts > Outstandings > Receivables (for outstanding sales bills).
    • Display > More Reports > Statements of Accounts > Outstandings > Payables (for outstanding purchase bills).

Alternatively, you can use keyboard shortcuts:

* Press `Alt+G` (Go To) and type or select "Bills Receivable" or "Bills Payable."

2. Enabling Ageing Analysis in TallyPrime:

  1. Press F6 (Ageing Method) to access the age analysis settings. This crucial step activates the age-wise breakdown functionality for the report.

3. Choosing the Ageing Method:

1. Ageing by Bill Date:

Considers the voucher entry date for displaying outstanding amounts. (Useful for analyzing how long bills have been outstanding since creation).

2. Ageing by Due Date:

Considers the due date mentioned in the bill for displaying outstanding amounts. (Useful for understanding how overdue payments are).

4. Defining Age Slabs in TallyPrime:

  1. Set the desired age periods (e.g., 0-30 days, 31-60 days, etc.) for categorizing outstanding bills. You can achieve this by:
    • Entering values directly in the “From” and “To” fields for each age slab.
    • Utilizing the “Set” buttons to define pre-defined ranges (e.g., 1-30, 31-60).

5. Viewing the Age-wise Breakdown in TallyPrime:

The Bills Receivable/Payable report will now display information like:

  • Party: Name of the customer (for receivables) or supplier (for payables).
  • Bill No.: Reference number of the outstanding bill.
  • Bill Date: Date the bill was created (relevant to “Ageing by Bill Date”).
  • Due Date: Date by which the payment is due (relevant to “Ageing by Due Date”).
  • Amount: Total outstanding amount for each bill.
  • Age Slabs: User-defined categories representing different outstanding bill age ranges.
  • (Optional) Amount (for each Age Slab): Depending on your TallyPrime configuration, you might see a further breakdown of the total bill amount according to the defined age slabs. This provides additional insights if enabled.

6. Example (Using Bills Receivable and Ageing by Due Date):

PartyBill No.Bill DateDue DateAmount0-30 Days31-60 Days>60 Days
ABC Company10012024-05-152024-06-10Rs. 5,000Rs. 5,000
XYZ Enterprises10022024-05-202024-05-30Rs. 8,000Rs. 0Rs. 8,000

7. Benefits of Age-wise Analysis for Bills Receivable/Payable Report in TallyPrime:

  • Analyzes the age distribution of individual outstanding bills (receivable or payable).
  • Helps identify specific overdue bills and prioritize collection efforts (for receivables) or manage payment schedules (for payables).
  • Provides insights into overall collection efficiency or payment practices (for both receivables and payables).

8. Additional Considerations:

  • You can utilize filters (press Alt+F11) to narrow down the results by bill type (e.g., Sales Invoice, Purchase Bill) or other criteria.
  • Consider the chosen “Ageing Method” (Bill Date vs. Due Date) when interpreting the report data to understand the appropriate timeframe for outstanding bill analysis.

By effectively utilizing the Bills Receivable/Payable report with age-wise analysis in TallyPrime, you gain valuable insights into the age distribution and details of your outstanding sales and purchase bills, enabling you to make informed decisions regarding collection strategies, payment terms, and overall credit management.

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