Money - Preparation of Bills

A Bill is a written statement or a receipt provided by a seller to a buyer, listing the items purchased, their quantities, their individual prices (rates), and the total amount to be paid. It serves as a record of the transaction.

The structure of a bill visually appears as a rectangular table with specific headers. At the top, you will find the Shop Name, Address, and Date. Below that, columns are organized for 'S.No' (Serial Number), 'Item Name', 'Quantity', 'Rate', and 'Amount'.

The 'Rate' is the cost of one single unit of an item (e.g., price per kg, price per meter, or price per piece). It is usually written with the currency symbol ₹. If you see 'Rate: ₹$25.00$', it means one item costs twenty-five rupees.

The 'Amount' for an individual item is calculated by multiplying the quantity by the rate. For instance, if the bill shows 'Quantity: $4$' and 'Rate: ₹$50$', the 'Amount' column for that row will show ₹$200$.

The 'Grand Total' represents the sum of all the individual amounts for different items. Visually, this is found at the very bottom of the bill table, often highlighted or placed next to the word 'Total'.

When preparing bills involving decimal values (paise), it is crucial to align the decimal points vertically in the 'Amount' column. This ensures that when you add the values together, you are correctly adding paise to paise and rupees to rupees, just like in a vertical addition grid.

Cash Paid and Balance: Often, a customer pays a round figure (like a ₹$500$ or ₹$2000$ note). The shopkeeper subtracts the Grand Total from the cash paid to find the 'Balance' or 'Change' to be returned.