Accounts Receivable Overview
In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms or payment terms. … The sales a business has made.
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Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. Accounts payable are liabilities. Accounts receivable are assets.
What are the course objectives?
- Monetizing the relationship
- Setting Credit and Payment Terms
- Payment Collection
- Chasing Late Payments
- Minimizing Invoice Disputes
Accounts Receivable Course Duration?
ACCA Training Features:
Hands on Training
Tally Course Syllabus
BILLING: Billing is an inevitable part of any business and its care is duly taken by Tally. Actually billing is included in accounting feature but it has some what a separate function rather than accounting. The best thing in Tally is what when you create a billing entry you did not have to create accounting entry for that bill.
PAYROLL: This feature is of use when you are having a good number of employees. For maintaining payroll in tally, there are functions like employee categories, employee groups, attendance, pay heads and course employees.
For manufacturing entity there are functions such as units and production types by which information regarding production done by employees in specific units can also be measured.
INVENTORY: As billing is an inevitable part of a business and so is the inventory. Effective inventory management can save huge amount of costs especially if you are functioning in a manufacturing environment.
In tally you can classify inventories on the basis of groups, units, tariff (applicable for goods on which VAT is levied), different stock items, god owns in which they are located.
BANKING: In this era of digitalization, without banking no business can survive. Banking functionality is very well covered by Tally. Though it was not present in earlier versions of Tally but it can be usage in ERP-9
TAXATION: a business cannot operate in isolation. It needs a society to operate which is governed by a government which levies different types of taxes on a business as it is a commercial activity. Well, Taxation is also covered by Tally. Right from Income Tax, VAT, Excise, Customs and service tax everything is taken care of by Tally.
REPORTING: Different types of reports are required at different times for making effective business decisions. In Tally there are reports such as Statutory Reports, Payroll Reports, job Work In and out Reports and the most significant Exception Report
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