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Unit 6 – Transactions 129

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Unit 6 – Transactions 129

Form Issuable Amt. – In this data field, enter the amount for which the Form is issuable. By default, the total amount of transaction is displayed in this data field.

Form Receivable Amt. – In this data field, enter the amount for which the Form is receivable.

By default, the total amount of transaction is displayed in this data field.

è Depending on the configuration in Sale Type under Form Information group either Form Issuable Amount or Form Receivable Amount or both the data fields will be active.

Typically speaking, Form Issuable Amount data field will be active for Purchase transactions and Form Receivable Amount data field will be active for Sales transactions.

After entering the form issuable / receivable amount, click the Ok button to save the details.

On clicking the Ok button, a Bill-by-Bill Adjustment of Amount window appears. This window appears if you have enabled the option of Maintain Bill-by-Bill Balancing for the party selected in the Party data field of voucher. In the Bill-by-Bill Adjustment of Amount window, you can enter details about the due payment. Given here is a screenshot of Bill-by-Bill Adjustment of Amount window.

Figure 6.7 Bill-by-Bill Adjustment of Amount

In the Bill-by-bill Adjustment of Amount window, a grid with various fields appears. Various fields in the grid are:

Method

Under this data field, three options are provided. The options are:

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New Ref. – Select this option if you want to create a new bill reference for the party.

Adjust – Select this option if you want to adjust the current bill amount with any other reference already created for the party. This option will appear only if there is a pending bill of the party with which the current bill amount can be adjusted. For example, Star Electronics Company has sold 10 pieces of item LG AC 1.5 ton worth Rs. 2,60,000 to Smart Traders Corporation on credit basis. Smart Traders Corporation had earlier made some advance payment of Rs. 60,000 for which a bill reference has already been created. Now Star Electronics Company can adjust Rs. 60,000 with the existing bill reference and for the rest Rs. 2, 00,000 it can create new bill reference.

Append – Select this option if you want to append or add the current bill amount to any existing bill reference. This option appears only if there is a pending bill to which the reference can be appended. For example, Star Electronics Company has sold 10 pieces of item LG AC 1.5 ton worth Rs. 2,00,000 to Smart Traders Corporation on credit basis. Smart Traders Corporation decided to make payment in four installments of Rs. 50,000 each due on 1st April, 1st May, 1st June and 1st July. However, there is already a pending bill of Rs. 20,000 due on 1st April which the Smart Traders Corporation has to pay to the Star Electronics Company. Now instead of making a new bill of Rs. 50,000 for 1st April, Star Electronics Company can append this amount to existing bill reference which is due on 1st April. Hence, total amount in a single bill reference to be paid by Smart Traders Corporation on 1st April will be Rs. 70,000.

Ref

Enter bill reference number if you are creating new reference or select the existing reference to which the amount is to be adjusted / appended.

Amount

Enter the amount for bill reference.

D / C

Enter ‘D’ if it is a debit amount or ‘C’ if is a credit amount.

Due Date

Enter due date for the reference in this field. You can enter due date only for new references. If you have selected the New Ref. method then by default, the date of the voucher appears in the field. If you have specified credit days in the Account master for party / account then depending on the number of credit days specified in Account master, the due date is displayed in the field. If you have selected the Adjustment / Append method then depending on the reference selected in the Ref. data field the due date is displayed in the field.

Group

This field appears if you have enabled the option of Enable Grouping of Reference under Administration à Configuration à Features / Options à Accounts tab à Bill Reference Group window. If you have selected the New Ref. method then you have to select the Reference Group

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