Party Ledger & Outstanding Payments: A Simple System for Transporters
Every transporter knows the feeling: business is good, trucks are running, but cash is always short. Very often the reason is simple — freight that was billed but never followed up.
What is a party ledger?
A party ledger is a running account for each customer. Every amount they owe you is a debit, and every payment they make is a credit. The difference is their outstanding balance.
What should go into it?
- Freight from every bilty and freight invoice (debit)
- Advances received at booking (credit)
- Payments received later — cash, UPI, cheque or bank transfer (credit)
- Credit notes for shortages or rate differences
Keep it automatic
The biggest problem with manual ledgers is that entries get missed. In LReasy, saving a bilty posts the freight to the party's ledger and any advance to your cash or bank passbook automatically. When a payment comes in, you add one entry and choose cash or bank.
Cash vs bank — why it matters
Recording the payment mode keeps your Passbook accurate. Cash entries appear in the cash book, while bank, UPI and cheque payments appear under the bank account they went into — so your cash in hand and bank balance always match reality.
Follow up with confidence
Before calling a party, open their ledger: you will see every bilty, every payment and the exact balance, and you can share the statement as a PDF. Clear statements get paid faster and cause fewer arguments.
Try LReasy free and see your outstanding balances in one place.