Age-wise Analysis of a Single Ledger Account in TallyPrime: 6 Steps

Here’s how to perform an age-wise analysis of a single ledger account in TallyPrime:

1. Utilizing the Ledger Outstandings Report with Ageing Analysis

  1. Go to the Gateway of Tally (Alt+F12) in TallyPrime.
  2. Navigate to Display > Statements of Accounts > Outstandings > Ledger.

Alternatively, you can use a keyboard shortcut:

  • Press Alt+G (Go To) and type or select “Ledger Outstandings.”
  1. Select the specific supplier/customer account for which you want to analyze outstanding bills (receivable or payable). This account could be a customer account for sales or a supplier account for purchases.

2. Configuring Ageing Analysis in TallyPrime:

  1. Press F6 (Ageing Method) to access the age analysis settings.

Here, you can choose the method for calculating bill age:

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).

3. 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).

4. Viewing the Age-wise Breakdown in TallyPrime:

The Ledger Outstandings report will now display information like:

  • Party: Name of the supplier/customer associated with the selected account.
  • Last Bill Date: Date of the most recent bill for this account.
  • Total: Total outstanding amount for this account (receivable for customers, payable for suppliers).
  • Age Slabs: User-defined categories representing different outstanding bill age ranges.
  • Amount (for each Age Slab): Breakdown of the total outstanding amount according to the defined age slabs. This shows how much is outstanding for a specific period (e.g., how much is due within 0-30 days, 31-60 days, etc.).

5. Example (Using a Customer Account and Ageing by Due Date):

PartyLast Bill DateTotal0-30 Days31-60 Days>60 Days
XYZ Enterprises2024-05-20Rs. 10,000Rs. 0Rs. 5,000Rs. 5,000

6. Benefits of Age-wise Analysis of a Single Ledger Account in TallyPrime:

  • Analyzes the age distribution of outstanding bills for a specific customer or supplier.
  • Helps identify overdue payments from specific parties.
  • Provides insights into overall payment collection efficiency or payment practices (for suppliers).

Additional Considerations:

  • You can utilize filters (press Alt+F11) to narrow down the results by bill type (e.g., Sales Invoice) 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 Ledger Outstandings report with age-wise analysis in TallyPrime, you gain valuable insights into the payment behavior of your customers or suppliers, enabling you to make informed decisions regarding credit management and collection efforts.

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