RECEIVABLES AND PAYABLES MADE EASY

You can view the details of the goods receivables, goods payables, ledger outstanding report, group outstanding report, ageing analysis report and bill party-wise outstanding report in Tally.ERP 9.

Displaying Accounts Receivables

Accounts Receivable: Accounts receivable is the amount owed to a company resulting from the company providing sale of goods/services on credit. This also called as Trade Receivable in place of accounts receivable.

 

Bill of Receivable A bill of exchange which is bills receivable. When a drawee accepts a bill and sends it back to the drawer thru bank or direct, it becomes an asset to the individual or organisation. On the other hand, it becomes bills payable to the drawee if money is payable by him on the bill, in case it is a liability to the individual or organisation.  

The drawer can make use of the bill of exchange in one of the following ways:

  • Retain the Bill of exchange till the maturity date and collect money from the drawer.

  • Can endorse the bill to his creditor.

  • Take trade finance from his banker. (Depends on the Trade Finance facilities with banks)

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Gee Kay Systems & Accounting Limited is a Kowloon (Hong Kong) based company that was founded in the year 1999. The entity is running very smoothly with the capable guidance of its Director- Mr. Kannan Krishnan.

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