Bill-Wise Details and Outstanding Management
Tracking Sunrise Retail's outstanding receivables and payables with aging analysis
Module 27 of 31 — Tally Prime. Track Sunrise Retail's individual invoices, record partial payments, and manage collections using aging analysis. Duration: 40 min.
Learning Objectives
- Enable and use bill-wise accounting for debtors and creditors
- Track individual invoices in outstanding reports
- Record partial and full payments against specific bills
- View and interpret the age-wise outstanding report for Sunrise Retail
Prerequisites: Payment and Receipt Vouchers — tally-07
What Is Bill-Wise Accounting?
When "Maintain Balances Bill-by-Bill" is enabled for a party ledger, Tally tracks each invoice separately. Instead of:
you see:
This visibility is essential for collections, payment planning, and aging analysis.
Enabling Bill-Wise in Ledger Master
Apply to: all Sundry Debtors and Sundry Creditors.
Bill Reference Types in Voucher Entry
When entering any transaction for a bill-by-bill ledger, Tally prompts for the bill reference:
| Type | When to Use | Example |
|---|---|---|
| New Ref | Creating a new outstanding (new invoice) | Sales voucher, Purchase voucher |
| Against Ref | Settling an existing outstanding | Payment, Receipt |
| Advance | Payment before invoice — creates a credit | Advance to supplier |
| On Account | Payment not linked to a specific bill | Unallocated credit (clean up later) |
Sunrise Retail — Receivables Outstanding (April 30, 2025)
Visual: Receivables Register — April 30, 2025
(Note: Digital Hub has a 15-day credit term; CloudStore has a 30-day credit term — both invoices are current.)
Sunrise Retail — Payables Outstanding (April 30, 2025)
Visual: Payables Register — April 30, 2025
Sparsh Tech (₹1,18,000) is due April 30 — Kiran should make the payment today to avoid credit hold on future orders.
Recording a Partial Payment Against a Specific Bill
Scenario: Digital Hub pays ₹3,00,000 on May 7 (partial payment against SR-2025-0042 total ₹5,66,400):
Outstanding after entry:
Age-Wise Outstanding Report
The most important collection management tool:
Tally groups outstanding bills by days overdue:
Customising age buckets:
Bills in the 60+ day bucket require immediate personal follow-up. Bills in the 90+ bucket should be reviewed for provisioning.
Practice Exercise
Exercise: On May 25, TechWorld sends a reminder — invoice TW-2025-0183 (₹14,16,000) was due May 20 and is now 5 days overdue. Sunrise Retail pays ₹10,00,000 now. Record the partial payment and show the remaining outstanding.
Show Solution
Outstanding after payment:
At 18% p.a. interest (if penalty clause applies): Interest for 5 days: ₹4,16,000 × 18% × 5/365 = ₹1,025
Key Terms
| Term | Meaning |
|---|---|
| Bill-Wise | Tracking individual invoices within a party's ledger |
| Outstanding | Unpaid invoices — Receivables (customer owes you) or Payables (you owe supplier) |
| New Ref | Creates a new outstanding bill — used when recording sales/purchase invoices |
| Against Ref | Settles an existing outstanding — used when recording payments/receipts |
| Age-Wise | Categorising outstanding bills by days since due date |
| Aging Analysis | Report showing distribution of outstanding across time bands (0–30, 31–60, etc.) |
| Credit Period | Agreed payment terms (e.g., 30 days from invoice date) |
Module Summary
- Enable bill-wise:
Ledger → Maintain balances bill-by-bill: Yes - Outstanding reports:
Reports → Statements of Accounts → Outstandings → Receivables / Payables - Sunrise Retail April 30: Receivables ₹9,55,800 (all current), Payables ₹15,34,000 (TechWorld May 20, Sparsh due today)
- Partial payments: enter amount in Against Ref — Tally shows remaining balance on that specific bill
- Age-wise report: groups bills by overdue period — key for proactive collections
Quick Quiz
1. When Digital Hub pays ₹3,00,000 against invoice SR-2025-0042 (total ₹5,66,400), the bill settlement type is:
- a) New Ref
- b) Against Ref
- c) Advance
- d) On Account
Answer
b) Against Ref — the payment is being applied to a specific existing outstanding invoice (SR-2025-0042). Against Ref reduces the balance on that bill; the remaining ₹2,66,400 stays outstanding.
2. The Age-Wise Outstanding report primarily helps identify:
- a) Which products have the highest profit margin
- b) Which outstanding bills are overdue and for how long
- c) Which employees have expense claims pending
- d) Which stock items are slow-moving
Answer
b) Overdue bills by age — essential for collections prioritisation. Bills in the 60+ day bucket need escalation; 90+ day bills may need provisioning as doubtful debts.