In TallyPrime, for each invoice, a unique bill reference is automatically generated to manage the outstanding.All you need to do is track the bill on accepting or making payments, and voila, it will be easy for you to track and match invoice, and get to know the pending bills.
With TallyPrime's ageing analysis report, you can easily identify the bills which are ageing from a long time and accordingly follow-up. The ageing style and ageing interval can be set according to your needs.
Using Bill Settlement option in TallyPrime, You have a faster method to clear a party's bulk payments for multiple pending bills together.
When it comes to outstanding or credits management, you may charge interest on outstanding to the party. TallyPrime makes it easy by automatically calculating the interest either with Simple or Compound interest method and assists in accounting accrued interest into the books.
Get the status of cash flow and funds flow in a single click with TallyPrime. Track and plan the cash flow and allocate capital rightly for the smooth functioning of the business.
A cash flow projection considers various instance of anticipated inflow and outflow and accordingly projects the net balance available for a given period. Instant cash flow projection report in TallyPrime helps in planning your investment or spendings keeping in mind the expected inflow.
To ensure better credit management, you can set maximum credit limit based on the credibility of the customer. You will also be notified through an alert during a sales invoice if your customer has any overdue bills.