Problem statement: a number of customers still have cash flow issues after taking the following actions:
a.) Usage of Tally
b.) Usage of third party mobile apps.
Here is an analysis of how one can seek to resolve the problem.
a.) Complete receivable data: the complete receivable data is very challenging with Tally. Normal approach is as follows:
i.) Look at ledger closing balances from current assets and to sundry debtors as follows:
Most mobile apps give the debit balance of the sundry debtors as the total to be collected.
Problem with this approach:
a.) Tally calculates sales amount as those entries that affect the ledger primary sales accounts, not optional, not void and not cancelled. The entries can be with multiple voucher types and can affect sales accounts.
For example sales can be done to sundry creditors and the same can be left by this approach.
Issue with using sundry debtors. There could be certain sub groups in sundry debtors and sundry creditors where we might not like to do the payment follow ups. For the same we need to do the group ledger hierarchy flattening. The same can be addressed by looking at the following collection extracts:
In the details attached above one finds that the parent details are not available completely. Also the ledger name below second level are not exported in trial balance. Hence one has to use ledgerprimary from Tally for ledgers below second level of hierarchy.
The second step is to analyze the bills receivable statements by group wise. There could be certain groups to be excluded in the collections process.
These ledgers and their groups need to be excluded from any payment collection process.
2.) Adjusting the credit entries : for the same net closing balance needs to be taken that subtracts the debit and the credit closing balances. Simply using the debit balances might not help.
3.) Looking at the bills receivable details. There could be some bills that are part of the bills receivable, group payable , ledger payable and bills payable details. Using our json extract we have combined all the receivables, payables, group and ledger-group details across unlimited companies.
4.) One will have some collections from bills receivable, bills payable combine along with group ledger hierarchy.
5.) We need to check the ledger credit period for all the remaining ledgers.
6.) Thereafter we will have to find those invoices that have still been left unpaid with onaccount entries. A single table across multiple companies would help.
Once all the above steps have been done then one can make a list of vouchers for which bills receivable intimation is to be done.
The intimation facilities can be done with sms, email or whatsapp.
Contact us for accounting analysts to help solve your problem.
Name: Apoorv Chaturvedi
Phone:+91-8802466356
email:support@mndatasolutions.com;support@turbodatatool.com
youtube channel:www.youtube.com\@mndatasolutions2042.
Our performance guarantee: full payment follow ups in a period of 2(two) months.
Pre requisites; Tally ERP, powerbi, SQL Server(if preferable)
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