Import your data from Excel To Tally in Easiest & Fastest way.

Request Demo
How do I read the Bills Receivable report?

How do I read the Bills Receivable report?

  • Open the account’s display on the Tally Gateway.
  • Go to Outstanding and receivables on the Accounts Statement, then select Bills Receivable or the Bills Receivable Entry.
  • The list of clients with outstanding invoices will be displayed on the bills receivable screen together with information about each invoice, including the date, the total amount due, any pending payments, the reference number, the due date, etc.
  • The “Maintain Balances” option while working on the report allows you to manage bills individually if necessary. This indicates that you can use this option to drill down to a bill-by-bill listing from an invoice-by-invoice list.

Let’s study the information on this screen and how to use it.

Date: The date indicated above is the effective date of the invoice, not the date that is currently being viewed. For instance, the invoice you are viewing now is effective as of January 1, 2022, not the present date, because you are viewing the bills receivable. The effective date of the invoice is used to determine the credit period in every case.

Reference Number: This field shows the reference number for the invoice or bill and reflects it on the screen that displays bill-wise entries.

Client or Party Name: This field reflects the client’s name as it appears in the ledger.

Pending Amount: On the display, below the invoice’s outstanding balance and total bill value, are the bills receivable. You can view the details by pressing “Shift” and “Enter.” Use the F1 function button to ‘Alter Details’ to switch between the condensed and detailed views in order to modify or amend this field. Keep in mind that each time a party makes a payment, the specifics of the outstanding amount must be updated.

Date due-on: When a voucher or invoice is input, the effective date of the bill is used to determine the field’s value, which represents the bill’s due date.

Get Excel To Tally Software