November 22, 2024
Tally is a trusted accounting tool widely used for managing supplier transactions and tracking payables. It offers various supplier reports that provide actionable insights into outstanding payments, transaction histories, and payment trends. Let’s explore the top 5 supplier reports from Tally and how you can access them step-by-step.
1. Bills Payables
The Bills Payables report helps track all outstanding payments to your suppliers. It includes invoice details, due dates, and total amounts payable.
How to Access in Tally:
Gateway of Tally->Select Display->Navigate to Statement of Accounts->Choose Outstanding->Select Payables
This report ensures timely payments, helping you maintain good relationships with your suppliers and avoid late payment penalties.
2. Purchase Register
The Purchase Register provides a detailed record of all purchases made during a specific period.
How to Access in Tally:
Go to Gateway of Tally->Select Display->Navigate to Account Books->Choose Purchase Register
This report allows you to monitor purchasing trends and analyze supplier-wise spending, helping optimize procurement strategies.
3. Supplier Ledger
The Supplier Ledger offers a detailed view of all transactions with a specific supplier, including purchases, payments and outstanding balances.
How to Access in Tally:
Go to Gateway of Tally->Select Display->Navigate to Account Books->Choose Ledger->Select the supplier’s name from the list
This report is ideal for resolving disputes and ensuring accurate supplier records.
4. Ageing Analysis
The Ageing Analysis report categorizes outstanding payments based on how long they’ve been overdue, such as 0-30 days, 31-60 days and so on.
How to Access in Tally:
Go to Gateway of Tally->Select Display->Navigate to Statement of Accounts->Choose Outstanding->Select Payables-> Ageing Method (F6) -> Under Ageing Analysis select method of Ageing
This report helps prioritize payments to suppliers based on overdue durations, improving cash flow management.
5. Supplier Confirmation of Accounts
The Supplier Confirmation of Accounts report is used to verify balances and transactions with suppliers. This ensures alignment on outstanding amounts and account details.
How to Access in Tally:
Go to Gateway of Tally->Select Display-> then Account Books->Select the Supplier Ledger-> Select Alt (P) to print the Ledger -> Click Configure Button -> Select Report Type as Confirmation of Accounts
This report is crucial for audits and maintaining accurate financial records.
Conclusion
These top 5 supplier reports from Tally help businesses manage payables & improve financial management. However, with reporting and BI tools, you can analyze vendor payables and purchasing trends more deeply with reports such as average payment days, vendor on-time performance, item-wise vendor-wise average rate of purchase and movement from time to time period, etc. If your business has some custom requirements the same can also be addressed with these tools.