What is bill in Aratum Swift?

A bill in a ledger represents a recorded obligation to pay for goods or services received. This entry is crucial for accurate financial tracking and accountability. When a business receives a bill from a supplier, the details of this financial obligation—including the bill date, amount due, description of goods or services, due date for payment, and vendor information—are meticulously entered into the accounts payable ledger. This process not only facilitates the systematic tracking of debts but also plays a pivotal role in managing cash flows and preparing for future expenses. The entry of a bill into the ledger is a key component of accrual accounting, ensuring expenses are matched with the periods in which they are incurred, regardless of when the payment is made. This allows for more accurate financial reporting and analysis. Additionally, maintaining detailed records of bills in a ledger aids in dispute resolution, audit readiness, and ensures compliance with financial regulations, ultimately supporting the financial integrity and operational efficiency of a business. 


    

Bill Table

Our Bill Table is customizable, enabling users to easily adjust display fields to fit their preferences with just a few simple settings. List of parameters for display fields are as below. 

String	Length	Type	Source/Remark
Transaction Number	-	Alphanumeric & Special	Custom Number Format
Vendor Name	32	Alphanumeric & Special	-
Bill Date	-	Date Picker	-
Due Date	-	Date Picker	-
Total Amount	10	Alphanumeric & Special	-
Due Amount	10	Alphanumeric & Special	-
Bill Type	-	Selection	‘Inventory’ / ‘Expense’ / ‘Credit Note’
Supplier Invoice No.	32	Alphanumeric & Special	-
Good Received	-	Selection	‘Received’ / ‘Partial’ / ‘Not Applicable’ / ‘Not Received’
Status	-	Selection	‘Draft’ / ‘Pending’
Payment Status	-	Selection	‘Pending’ / ‘Partial’ / ‘Paid’
Purchase Number	32	Alphanumeric & Special	-

And users also do have the option to filter the table based on parameters listed below. 

String	Length	Type	Source/Remark
Bill Start Date	-	Date Picker	-
Bill End Date	-	Date Picker	-
Due Date Start	-	Date Picker	-
Due Date End	-	Date Picker	-
Goods Received	-	Selection	‘Received’ / ‘Partial’ / ‘Not Applicable’ / ‘Not Received’
Payment Status	-	Selection	‘Pending’ / ‘Partial’ / ‘Paid’
Bill Type	-	Selection	‘Inventory’ / ‘Expense’ / ‘Credit Note’
Supplier Invoice No.	128	Alphanumeric & Special	-
FieldField	128	Alphanumeric & Special	-

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