Learn How to Control Over Debtors in Tally - - ( Part 44 ) Video Lecture | Tally ERP 9: Complete Training - Software Development

Ans. To control debtors in Tally, you can follow these steps: 1. Set credit limits for your debtors to ensure they do not exceed their agreed-upon credit terms. 2. Regularly monitor and reconcile your debtors' accounts to identify any outstanding payments and follow up with your debtors for timely payment. 3. Utilize Tally's aging analysis feature to track the age of outstanding invoices and prioritize collection efforts accordingly. 4. Generate regular reports in Tally to analyze debtor trends, identify potential bad debts, and take necessary actions to minimize the risk. 5. Implement a robust credit control policy such as offering discounts for early payments or charging interest on overdue payments to encourage prompt payment from debtors.

Ans. To set credit limits for debtors in Tally, you can follow these steps: 1. Go to Gateway of Tally and open the 'Accounting Vouchers' menu. 2. Select 'Sales Invoice' and choose the debtor for whom you want to set the credit limit. 3. In the sales invoice screen, press 'F12: Configure' and enable the option 'Allow modification of credit limits' under the 'Accounts Invoice Configuration' section. 4. Save the changes and go back to the sales invoice screen. 5. Now, enter the desired credit limit amount in the 'Credit Limit' field for the debtor. 6. Save the sales invoice. The credit limit will now be set for the debtor in Tally.

Ans. To generate an aging analysis report in Tally, you can follow these steps: 1. Go to Gateway of Tally and open the 'Display' menu. 2. Select 'Account Books' and then choose 'Ledger'. 3. Select the debtor for whom you want to generate the aging analysis report. 4. In the ledger screen, press 'F5: Ledger Vouchers' and select 'Monthly' as the period. 5. Press 'Ctrl + A' to view all the ledger vouchers for the selected debtor. 6. On the right side of the screen, press 'F12: Configure' and enable the option 'Age-wise analysis'. 7. Save the changes and go back to the ledger screen. 8. Press 'Alt + F1' to generate the aging analysis report for the debtor.

Ans. To implement a credit control policy in Tally, you can follow these steps: 1. Analyze your debtors' payment history and identify any recurring issues or delays. 2. Set clear credit terms, including payment due dates and consequences for late or non-payment. 3. Use Tally's credit limit feature to restrict the amount of credit extended to each debtor. 4. Regularly monitor and reconcile debtor accounts to identify overdue payments. 5. Follow up with debtors promptly for outstanding payments, sending reminders and statements as necessary. 6. Implement incentives for early payment such as discounts or rewards. 7. Charge interest on overdue payments to discourage late payments. 8. Periodically review your credit control policy and make necessary adjustments to address changing circumstances.

Ans. To track debtor trends in Tally, you can follow these steps: 1. Go to Gateway of Tally and open the 'Display' menu. 2. Select 'Account Books' and then choose 'Debtors'. 3. Choose the desired debtor for whom you want to track trends. 4. In the debtor ledger screen, press 'F12: Configure' and enable the option 'Show Trends'. 5. Save the changes and go back to the debtor ledger screen. 6. You will now be able to see trends and graphical representation of debtor transactions over a selected period. 7. Analyze the trends to identify patterns, such as regular late payments or increasing outstanding balances. 8. Use this information to make informed decisions and take necessary actions to control debtors effectively.