Question

which is the ledger grouping for bills receivable in tally ERP9
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Answer 1

Go to Gateway of Tally > Display > Statements of Accounts > Outstandings > Receivables . The Bills Receivable screen is displayed as shown below: This report displays all outstanding receivables invoice-by-invoice, till date.

I hope it helps you ......

Answer 2

Current asset

Current asset is the ledger grouping for bills receivable in tally ERP9.

• ​A bill of exchange on which payment is anticipated later is known as a bills receivable. Tally reports on accounts receivable. ERP 9 shows every open receivable for the chosen time frame.
• Bills Due and Receivable are both personal accounts. These two accounts represent a certain entity's creditors and debtors. Debit the recipient, credit the giver is the personal account's golden rule.
• These items are shown as current obligations on a balance sheet and are documented as accounts payable (AP).
• The person who draws or creates the bill and sends it to the payer or drawee for acceptance is known as the drawer. The bill becomes a Bills Receivable for the drawer and a Bills Payable for the drawee or payee once it has been accepted.
• Bills that are due within a year of the balance sheet date are categorised as short-term bills receivable in the balance sheet. Bills due more than a year from the balance sheet date are categorised in the balance sheet as long-term bills receivable.

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