In the process of recording transactions when the bill-wise details is set to Yes, Tally.ERP 9 prompts you to enter any of the following methods of adjustments:

New Ref – This is selected for new financial transactions.

Advance – This is selected when you receive or pay money in advance. Typically, when a bill is raised, part of the bill is adjusted against the advance (using Agst Ref) and the balance amount is carried as New Ref while making the sale or purchase entry.

Against Ref – This is selected to set-off payments against the previously entered New Ref.

On Account – This is used when you are not instructed about the bill against which the money should

Bill wise detail is used to know about party outstanding detail.

There are four types of bill wise detail:-

1) New reference: – at the time of sales/purchases.

2) Against reference: – at the time of cash received.

3) Advance: – cash received as advance.

4) On account: – at the time of interest charged.