# Bills Receivables/Payables

YouTube: [Bills Receivables/Payables](https://youtu.be/VR3esFKnkTw?si=1IUlAqFwKDdM76Mn)

## 📘 Managing Receivables & Payables in Logic ERP

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

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### 📊 Viewing the Outstanding Report

To begin, let's access the **Outstanding Report**.

1. Navigate to **Reports/Queries 📂.**
2. Expand **Financial Reports 💼.**
3. Click on **Dues/Ageing Analysis ⏳**

📋 This report shows all **due and overdue bills** – helping you track outstanding **Receivables** (🟢 incoming money) and **Payables** (🔴 outgoing money).

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### 🔄 Adjusting Entries **in Two Ways**

#### 🛠️ Method 1: Adjusting Bills While Passing the Entry

1. While entering a **Receipt or Payment 💳**, go to the **Adjust BR/BP column.**
2. Press **Enter ⌨️** — a window will appear showing **pending bills** linked to the selected account.
3. Select the **bill entry✅** you wish to adjust and **save 💾**the voucher.

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

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#### 📑 Method 2: Adjusting Entries Separately

1. Navigate to **Adjust Bill Receivables & Payables 🔧** under the **Account Vouchers menu.**
2. Select the **Account 📘** for which you need to adjust entries.

👀 You will see that a window will now display:

* 🔵 **List of bills (pending payments/receivables).**
* 🟢 **List of receipts/payments made.**

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### ⚙️ Adjusting Entries

#### ✋ Manual Adjustment

1. Click on a **Bill Row 📄** to select the **pending invoice**.
2. Then, click on the **corresponding receipt or payment** row**💸.**
3. Press **Adjust Entry 🔁**  to match the selected transactions.

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#### 🤖 Automatic Adjustment (FIFO Method)

* If you wish to **automatically adjust multiple pending bills**, click on **Adjust All FIFO🔄** (First In, First Out).
* The system will match the **oldest pending invoices first** (📦➡️💰), streamlining the process.

📌 Great method for **bulk adjustments**!

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### ↩️ Undoing Adjustments

If needed, you can undo previously adjusted entries.

1. Click on **Undo Adjustment 🔓** in the menu.
2. A list of **already adjusted entries 📜** will appear.
3. Select **entries you want to revert🔙** (fully or partially)
4. Click on **Undo Entries 🔄** — and the transactions will be restored to the pending list.

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### ✅ Verifying the Adjustments

* Lets re-generate the **Outstanding Report 📊** to verify the changes.
* ✅ The **pending balances will been adjusted.**
* 📉 Only the **remaining outstanding balances** will show.

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### 📈 Final Thoughts

Using these features, **Logic ERP** helps you:

* 📋 Accurate tracking of what’s owed and what’s received
* 🔄 Adjust bills accurately.
* 🔍 Maintain clean financial records.
* 🧠 Make smarter financial decisions!


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