Get..Tally.ERP9 Book + GST Assignment @ Rs. 550


Credit Limits for Debtor and Creditor in Tally.ERP 9

Credit Limit refers to the monetary limit agreed upon mutually by the seller and the buyer for trading purposes. Credit Limits can be specified for any Ledger account falling under the groups Sundry Debtors and Sundry Creditors. Ledger Accounts created under Sundry Creditors are also allowed for defining Credit Limits for the reason that there may be two-way trade between the parties i.e., you may sell to a Sundry Creditor and buy from a Sundry Debtor Accounts

1. Setting Credit Limits

You can set credit limits for ledgers accounts grouped under Sundry Debtors and Sundry Creditors at the time of ledger creation or from the alteration screen or also at the time of invoicing. To activate Credit Limits feature in Tally.ERP 9,

Go to F11 Features > Accounting Features > Set Maintain Budgets and Controls to Yes

Credit Limits @ Tally.ERP 9..

To set Credit Limits for Single Ledger Account, follow the steps given below:

Go to Gateway of Tally> Accounts Info> Ledgers> Create / Alter (under Single Ledger)

Select the required party ledger from the List of ledgers to set credit terms. The single Ledger Alteration screen is displayed. You can set credit limits for both amount and period here.

To set credit limits for multiple ledgers:
Go to Gateway of Tally> Accounts Info> Ledgers> Credit Limits (under Multiple Ledgers)

Credit Limits @ Tally.ERP 9..

Select the required group of ledgers from the List of Groups to set credit terms. The Multi Ledger Limit Alteration screen is displayed. The list of ledger accounts under the selected group is displayed. You can now set credit limits for both amounts and periods here

Credit Limits @ Tally.ERP 9..

Credit Limit

Specify the amount of credit limit against the ledger account in this field. You can set the amount limits in foreign currency if required, for ledgers involving forex transactions

2. Exceeding Credit Limits

During invoice or order entry, if the credit amount limit is exceeded, at the accepting the voucher, Tally.ERP 9 prompts an error message displaying the amount exceeding the credit limit specified. You can however,

  1. Enter a lower value (within the prescribed credit limit) to complete the entry ; or

  2. Abandon the current entry and obtain authorization to increase the credit amount limit in the Multi Ledger Limit Alteration screen.

This feature helps in restricting Invoicing for the customers or parties exceeding the prescribed credit limits and thereby facilitating better and effective control of the outstanding


Get..Tally.ERP9 Book + GST Assignment @ Rs. 550

Get..Tally.ERP9 Book + GST Assignment @ `. 550 !

15 Chapters in Tally.ERP9 Book + 21 Chapters in GST Practical Assignment on GST in Tally.ERP9 & All features are described with Practical Problems with Solutions.

Buy Now

Disclaimer :
The names of Companies and persons used in this Website have been used for illustrative purposes only.
The visitors may visit , the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications

Trademark :
Tally,Tally GST,TallyERP9 GST, Tally9, Tally.ERP, Tally.ERP –9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners. This Website is not associated with any product or vendor mentioned in this Website.
Mandal Bagicha, Hemkapada,
Sunhat, Balasore-756002 ( Odisha )-India
eMail ID :
Web :
Mob : 09437264738

| About | Privacy Policy |

© 2019 :

Tally.ERP9 Book CONTENT Tally.ERP9 Book ORDER