Tally.

ERP 9
Billwise Details for Non-Trading Accounts in Tally.ERP 9
Did you know that you can maintain bill-by-bill details even for your non-trading accounts in Tally.ERP 9 to
track all your bills and get your outstanding reports effortlessly?
Maintaining details of every bill for trading accounts is possible in Tally.ERP 9 using Billwise Details.
The same powerful and convenient feature is available for tracking and managing non- trading accounts
like Loans, Advances and Installment Payments etc. as well. Using this feature, business owners can
easily track bills for expenses, any installments to be paid or loan amounts to be received. ‘Billwise Details’
hence can be used to track the details of any already made or due payments and also to generate
payables or receivables reports with minimum effort.
For example, if your business has given a loan for purchase of a vehicle to one of its employees,
you can use the ‘Billwise Details’ in Tally.ERP 9 to track the loan amount and use it to reduce the balance
every time an installment is received. To show this powerful feature in Tally.ERP 9, let’s follow the steps
below:
Enabling Billwise Details for Non-Trading Accounts
 Go to Gateway of Tally > F11: Accounting Features > Set ‘Yes’ to ‘Maintain Bill-wise Details (for
Non-Trading A/cs also)’

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Tally.ERP 9

Create the required Ledgers

Let’s create a ledger called ‘Staff Loan’ under ‘Loans and Advances (Assets)’:

 Set ‘Maintain balances bill-by-bill’ option to ‘Yes’

 Accept the screen

Similarly, create ‘Interest on Staff Loan’ ledger under either ‘Indirect Income’.

Recording Loan Given by Creating a New Bill Reference Number

To record the total loan amount given, let’s pass the

Payment Voucher as follows:
 Go to Gateway of Tally > F5: Payment (in Single
Entry Mode) > Select Bank’ in ‘Account’

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Tally.ERP 9
 Select ‘Staff Loan’ under ‘Particulars’ > Enter ‘2,50,000’ in ‘Amount’
 On ‘Billwise Details’ screen, select ‘New Ref’ for ‘Type of Ref’ > Enter ‘Name’ as ‘Vehicle Loan -
001’ > Accept the screen
 The completed Payment Voucher is shown below:

Record Interest of Loan with New Bill Reference Number

For this, let’s pass the Journal entry as follows:

 Go to Gateway of Tally > F7: Journal

 Debit ‘Staff Loan’ ledger with the interest amount
 On ‘Billwise Details’ screen, select ‘New Ref’ for
‘Type of Ref’
o Enter ‘Interest April-01’ in ‘Name’
o Accept the screen
 Credit the ‘Interest on Staff Loan’ ledger with the
same amount
 Accept the screen

Impact on Bill Outstanding Report

The amount of interest due and paid can be viewed using Bill-wise details. This is done by referring
to the ‘Interest ledgers’ we have just used in the Journal Entry. To view this:
 Go to Gateway of Tally > Display > Statement of Accounts > Outstandings > Receivables > Loan &
Advances (Assets)

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Tally.ERP 9

Note: If the interest amount is not fully paid, the report will show the remaining amount as an outstanding
amount.

Record Installment received against the Bill Reference Number

If the staff member is paying installment amount
along with interest due, the total amount will be divided
proportionately as shown below:
 Go to Gateway of Tally > F6: Receipt
 Select ‘Bank’ in ‘Account’
 Select ‘Staff Loan’ under ‘Particular’ > Enter ‘6,400’
in’ Amount’
 On ‘Billwise Details’ screen, select ‘ Against Ref’ for
‘Type of Ref’
o Select ‘Vehicle Loan 001’ in ‘Name’
 Accept the screen

The completed Receipt Voucher appears as shown:

Impact on Bill Outstanding Report

The Bill Outstanding report will show the detailed break-up of all the payments made for the
installment and the pending amount as shown:

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Tally.ERP 9

Hence, Tally.ERP 9 can provide a powerful and easy-to-use solution to track all your bills and
generate outstanding reports instantly.

Get more ‘Tally Tips’ on Tally.ERP 9 at www.tallysolutions.com/website/html/contactus/tally-tips.php

© Tally Solutions Pvt. Ltd. All Rights Reserved - 2012 www.tallysolutions.com