Question

Account Receivables and Payables
can be maintained by enabling which
of the following features in Tally.ERP
9?
Select one:
a. Maintain Cost centres.
b. Maintain Stock Category.
C. Maintain Payroll.
d. Maintain Bill-wise details.​

Answer 1

Answer:

Cost categories are useful for organisations that require allocation of revenue and non-revenue items to parallel sets of cost centres. Cost categories facilitate third-dimensional reporting of expenditure and revenue. For example, region-wise or geography-wise, Grade-wise, Department-wise, cost categories.

You can use cost categories you can allocate, in parallel, a transaction to more than one set of cost centres. For example, Cost Centres such as Marketing, Finance and Manufacturing can now belong to a category - Departments.

The Salesmen A, B, and C can be Cost Centres under a Category - Executives.

Similarly, you can create a new Cost Category Projects under which Cost Centres such as airport construction, road construction and buildings may be created. The classification appears as following:

Explanation:

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Answer 2

Answer:

The correct option is (d) Maintain Bill-wise details.

Explanation:

Non-trading accounts require bill-by-bill accounting.

• Tally allows you to keep track of every bill for trading accounts.
• ERP 9 employs Bill-by-Bill Details. The same powerful and convenient feature is available for tracking and managing non-trading accounts such as Loans, Advances, and Installment Payments, among other things.
• Business owners can easily track bills for expenses, instalments to be paid, and loan amounts to be received using this feature.
• 'Bill wise Details' can thus be used to keep track of any previously made or due payments, as well as to generate payables or receivables reports with minimal effort.

The advantages of keeping bill-by-bill details in Tally. ERP 9

• To easily maintain/generate outstanding Receivables and Payables reports
• Accounts Receivable and Accounts Payable must be maintained and tracked for each bill.
• The primary advantage of this capability is the speed and ease of use provided by Tally.
• ERP 9 assists in the generation of age-based analysis reports for receivables and payables.

Hence, we can conclude that by enabling the Bill wise details feature in ERP9, we can maintain account receivables and payables.

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