Bills Receivables/Payables

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πŸ“˜ Managing Receivables & Payables in Logic ERP

In this tutorial, we’ll explore how Receivables (πŸ’° proof of debt) and Payables (πŸ“¦ amounts owed for purchases) are tracked and adjusted in Logic ERP.


πŸ“Š Viewing the Outstanding Report

To begin, let's access the Outstanding Report.

  1. Navigate to Reports/Queries πŸ“‚.

  2. Expand Financial Reports πŸ’Ό.

  3. Click on Dues/Ageing Analysis ⏳

πŸ“‹ This report shows all due and overdue bills – helping you track outstanding Receivables (🟒 incoming money) and Payables (πŸ”΄ outgoing money).


πŸ”„ Adjusting Entries in Two Ways

πŸ› οΈ Method 1: Adjusting Bills While Passing the Entry

  1. While entering a Receipt or Payment πŸ’³, go to the Adjust BR/BP column.

  2. Press Enter ⌨️ β€” a window will appear showing pending bills linked to the selected account.

  3. Select the bill entryβœ… you wish to adjust and save πŸ’Ύthe voucher.

🎯 This allows real-time adjustments of pending receivables or payables at the time of data entry!


πŸ“‘ Method 2: Adjusting Entries Separately

  1. Navigate to Adjust Bill Receivables & Payables πŸ”§ under the Account Vouchers menu.

  2. Select the Account πŸ“˜ for which you need to adjust entries.

πŸ‘€ You will see that a window will now display:

  • πŸ”΅ List of bills (pending payments/receivables).

  • 🟒 List of receipts/payments made.


βš™οΈ Adjusting Entries

βœ‹ Manual Adjustment

  1. Click on a Bill Row πŸ“„ to select the pending invoice.

  2. Then, click on the corresponding receipt or payment rowπŸ’Έ.

  3. Press Adjust Entry πŸ” to match the selected transactions.


πŸ€– Automatic Adjustment (FIFO Method)

  • If you wish to automatically adjust multiple pending bills, click on Adjust All FIFOπŸ”„ (First In, First Out).

  • The system will match the oldest pending invoices first (πŸ“¦βž‘οΈπŸ’°), streamlining the process.

πŸ“Œ Great method for bulk adjustments!


↩️ Undoing Adjustments

If needed, you can undo previously adjusted entries.

  1. Click on Undo Adjustment πŸ”“ in the menu.

  2. A list of already adjusted entries πŸ“œ will appear.

  3. Select entries you want to revertπŸ”™ (fully or partially)

  4. Click on Undo Entries πŸ”„ β€” and the transactions will be restored to the pending list.


βœ… Verifying the Adjustments

  • Lets re-generate the Outstanding Report πŸ“Š to verify the changes.

  • βœ… The pending balances will been adjusted.

  • πŸ“‰ Only the remaining outstanding balances will show.


πŸ“ˆ Final Thoughts

Using these features, Logic ERP helps you:

  • πŸ“‹ Accurate tracking of what’s owed and what’s received

  • πŸ”„ Adjust bills accurately.

  • πŸ” Maintain clean financial records.

  • 🧠 Make smarter financial decisions!

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