Payment Performance of Sundry Debtors

Payment Performance of Debtors is the average time that customers take to pay their invoices, regardless of the balance on the account date. The low turnover of receivables and the high performance of payment is possible by stating that customers have cleared their priorities but took a long time.

To get performance reports at the group level and customer level, you need to get the detailed position of debt collection. Use a customer statement that shows the actual turnover and performance of the customer.

To view the General Ledger Payment Performance report:

  1. Enter Gateway of Tally -> Ratio Analysis.
  2. Drill down from Receivables turnover in days.
  3. Select a party from the list of party ledgers and press Enter to drill down.

The General Ledger Payment Performance statement shows the receivable turnover in days. This is the balance multiplied by the total number of days in the period by the total number of sales. This rate should be used in conjunction with the Average Performance of actual payments and the customer’s payment history to access how long it will take to pay the outstanding balance.

The actual payment history is provided in the table of each invoice paid by the customer. It shows when the invoice has been paid, how long it will remain, and what the payment delay is. The average performance of the customer is shown at the bottom of the screen.

How to Export Masters Entire Data to a New Company?

In Tally.ERP 9 Software, you can export the entire data to a newly created company in the following ways:

Enter Gateway of Tally -> Display -> List of Accounts.

Export Masters

Click F12: Select the masters you want to export. Skip this step if you want to export all the masters.

Range of Information

Click E: Export in the List of Accounts screen.

Select Default Language as (All Languages) from the list that appears.

Select Format as XML (Data Interchange).

By default, Export Location is set to C: Tally.ERP 9. You can provide an export location of your choice.

The output file name is set to Master.XML by default or provide a filename of your choice.

Select All Masters in Type of Masters.

Exporting ledgers

Press Enter.

Tax Invoice

The General Authority of Zakat and Tax (GAZT) has determined the requirements of the VAT or tax invoice before the implementation of the VAT on 1 January 2018 to improve tax compliance levels.

GAZT stated that two types of invoices were specified in the VAT Implementing Regulation.

The first is a simplified tax invoice for the supply of goods and services with a value less than SAR 1,000, which must include the date of issue, the supplier’s name, address, and VAT ID number.

When it is supplied, an indication of the payment of goods and services and a clear statement of the tax to be paid or the sum of the total payment (cost) relating to the supply of goods or services.

A simplified tax invoice cannot be issued for internal supply or export.

The second invoice type is for transactions exceeding 1,000 SAR, which require a more detailed invoice, as specified in Article 53 of the Implementing Regulation.

In addition to another language, this invoice must contain the invoice date of issue, the serial number identifying and distinguishing the tax invoice, the supplier’s VAT ID number, and the customer’s VAT ID number, the date and signature of the supply, the name and address of the supplier and the customer, the quantity and nature of the supply, the extent and nature of the guarantee or with the discounts including the applicable VAT rate and amount in Saudi Arabia.

General Authority of Zakat & Taxation (GAZT) confirmed that in the event of discounted prices on goods or services, VAT should be applied to the final discounted price, rather than the original amount.

GAZT called on businesses to provide clear invoices that specify goods or services that are not subject to standard 5% VAT due to being exempt from VAT or zero-rated supply.

Invoice credit or debit notes should contain a reference to the original sales invoice number and include discount details.

 

Customer QuotationSales Invoice

 

 

Sell product with Different Units

Sell Same Product with Different Units of Measure:

In some case, where you buy an item in a box or cases, but still sell separately, you can see how many separate products are there in each box or case. This way, when you purchase the item, the system will store individual items into your inventory.

This particular add-on helps you in selling product with different Unit of measure (UOM).  For E.g. you can buy a product in Box or cases and sell the same in both, the box and single unit.

Scenario: How to maintain the multiple sales units of measure for a particular item in a single area? Sales orders with different meanings may have different units of measure for the same material in the same sales area.

Advantages/Features of the Tally Customization Solution:

  • Buy and sell product in different unit of measure (UOM).
  • You can also set different rates/price to different units. E.g. 1 unit SAR 10 and 1 Box SAR 100.
  • It provides error free stock summary.
  • Print in different Unit of measure (UOM).
  • Better Invoice format with English and Arabic fonts (Bilingual).
  • Better Customer Quotation/Sales Order with English and Arabic fonts (Bilingual).
  • Allows you to supply goods to different projects of same customer.
  • Allows user to specify Delivery Terms and Payment Terms in quotation.
  • Helps you to enter Validity of the quotation.
  • Useful for Cash and Credit sale.
  • Search/Filter invoice at one click with invoice number.
  • Print Invoice or Customer quotation/Sales Order in letterheads.
  • Specify paper measurement as per your requirement for printing.

 The below screen gives you the clear image of the solution:

Solution Image

You can also set different rates to different units as shown below:

Rates - Units

The print view of the sales invoice looks as shown below:

Sales Invoice

The print View of Customer Quotation looks as shown below:

Customer Quotation

Search/Filter invoice at one click with invoice number as shown below:

Search-Filter Invoice

Look at the search result below:

Result Report

Additional Cost of Purchase

At present, Tally.ERP 9 is one of the most popular accounting software that handles all the day to day routine operations of any business organization effectively.

It is widely accepted for its user friendly nature. Tally provides different accounting and inventory features that allows the user to maintain their books of accounts.

Accounting Additional Cost of Purchase / Solutions for importing business

In most cases, more than one item is purchased, which is charged at a lump sum amount. However, in order to give an effective cost including the expenditure made for each item, an additional cost of purchase option is used.

This process is automated and the allocation of the expense to the inventory item can be done in a predefined way.

This feature is only available on the Purchase Vouchers. When we purchase something the additional costs can be charged such as VAT, labour fee, discount, shipping charges etc.

All these costs will be added to the stock and will increase the cost of the particular item. Before selling the stock, we must determine the actual Price / stock unit by following the Additional cost of purchase.

It is specially designed for Importers where additional cost is payable to the vendor other than the product supplier. It generates accurate O/s payable balance of product Supplier.

It will also give you proper Profit & Loss Account with the additional cost. It is useful when product Supplier is not given additional cost of purchase in the same invoice.

Advantages of the Tally Customization:

  • Get accurate cost of the product even with the additional cost incurred.
  • Get accurate payable of the Supplier for only product Value. It will ignore the additional cost of the same purchase which is payable to other vendors.
  • Get Accurate Profit & Loss Account for the additional cost.
  • It generates separate report of total Cost of the purchase including additional cost of purchase with Reference number.

In this purchase entry the product value is SAR 10, 000.00

Purchase Entry

Let’s take additional cost such as customs, Freight and Shipping cost of SAR 3000 in the same above purchase entry with our customized screen as shown below;

Customized Purchase Screen

Your Stock Value in the Stock summary with above entry will look like below.

Stock Summary

Each Product wise Stock summary will look as shown below;

Product Summary

Payable of the supplier looks as shown below:

Payable Summary

Our MIS shows the report as shown below:

MIS Report

Profit & Loss Account looks as shown below:

Profit & Loss Report

AMC Contract Customization

AMC CONTRACT CUSTOMIZATION:

  • You can use this voucher to maintain any contract details like yearly, half yearly, quarterly, Monthly and Custom periods.
  • This will also give a better report of expired contract details in red.
  • Each time you open Tally.ERP 9, it will direct you to the contract report to check the expired contract within 15 days.
  • Time-saving and flash feature with a single-click filter and a different color display, save your valuable time spent searching for expired contacts.
  • Since you can add the scanned document to the Customer’s Authorized signature, it will help you in the paperless office work.

Benefits of Annual Maintenance Contract (AMC):

  • Manage and save costs without sacrificing quality
  • Focus on your core business
  • Comprehensive infrastructure support for your desktops, devices and servers
  • Improve your business using the right software tools and solutions
  • Improve information protection

Different single-click Filter buttons are available.  You can view the report on the basis of;

  • Clients
  • Reference number
  • Contract Type
  • Country
  • City etc.

Our Services Include:

  • 24×7 servers monitoring
  • Workstation monitoring
  • Peripheral monitoring
  • Monitoring and support
  • Faster response and resolution
  • Unlimited remote help desk support
  • Onsite visit by our qualified engineers
  • Managed data backup and protection
  • Regular preventive maintenance
  • Instance or incident based call‐out support
  • Scheduled maintenance
  • Monthly health checkup
  • Periodic IT assessment

Enter contract details in both Arabic and English as shown:

Contact Details

Print View:

Print View

Report:

Report

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