Statements of Accounts

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Statements of Accounts are derived from the transactions recorded in the books of accounts. In Tally.ERP 9, they are generated for cost centres and outstanding accounts

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Outstandings

The Outstanding Statement in Tally.ERP 9 displays the status of receivables and payables of the business concern. These are the two important components of the working capital of every business entity. Receivables form a major component of current assets whereas payables form a component of current liabilities. Both determine the short-term liquidity and financial health of the company considerably. Therefore, effective control of the receivable and payable is a must for the financial soundness of a business concern.

The Outstanding Statement Display in Tally.ERP 9 can be any one of the following.

Receivables

This statement displays the sundry debtor's bill-wise balance till date. It is to be noted here that since this statement displays the information bill by bill, the same needs to be activated while recording the transactions in Tally.ERP 9. This statement provides the following information:

Payable

Payable outstanding displays the outstanding bill-wise balance of the sundry creditors. Again, this information can be viewed only on activating and entering the bill-wise details while recording the transactions. The information provided is similar to the receivables outstanding.

The uses of a payable outstanding statement are as follows:

Ledger

This summarises and displays the outstanding balance information with respect to each party. Thus, the bill status of a particular party account can be viewed with the help of this statement. Some of the uses of a ledger outstanding statement are:

Group

It displays a summarised view of the balances of all the ledgers under a particular group. For example, Sundry Debtors Group will display all the party ledgers with their account balances. It can further be drilled down to each account to show the bill-wise outstanding for that account.

Some of the uses of a group outstanding statement are as follows:

 

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