Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the Payment Receipt preparation options.
Before we begin, let us understand about the need of Payment Receipt Entry and the relevance of this particular activity.
The basic purpose of Payment Receipt Entry is to account for the payment received from the customer and to generate a receipt against this payment in favour of customer.
AlignBooks has made this module more useful for you by providing following additional utilities:
If you are maintaining and tracking bill wise outstanding of customers, you can adjust the bill(s) against which this particular payment is received.
If party/customer has made any deduction from total amount payable against any bill e.g. cash discount, TDS and Bank Charges, you can adjust the same without the need of passing any additional adjustment vouchers.
If party/customer has made any interest payment towards delay of payment, you can account for this interestwithout the need of passing any additional adjustment vouchers.
If payment is received through direct Bank transfer (in case of foreign dealings) and the Bank has deducted any commission/charges, you can account for the same the need of passing any additional adjustment vouchers.
If there is any Currency fluctuation difference (in case of foreign dealings) the system will automatically calculate, adjust and account for the same without undergoing through any additional adjustment vouchers.
You can create a Payment Receipt through Payment Receipt menu under Sales Module of AlignBooks.
The key functions of Payment Receipt Module are:
Creation of a New Payment Receipt,
Modification of an existing Payment Receipt;
Deletion of an existing Payment Receipt.
Configuration:
AlignBooks provide you the facility to configure your Payment Receipt with respect to choice of maintaining multiple series of document (Payment Receipt), choice of sending Email and SMS on creation/edit/approval of the documents and for Approval Systems setting etc.
Click on Configuration while you have selected the menu of Payment Receipt note from the dropdown list of sales module. Click on “How to Configure a Document”, to learn to configure the document and to learn more about this utility.
Let’s now understand how to create a new Payment Receipt in simple steps
You have three ways to prepare a Payment Receipt;
Enter fresh data for the first time;
Open an existing document and use the “Copy” feature of AlignBooks to make the necessary changes. This will save your time and efforts;
If you have data in an Excel Format, Import data and make the required changes.
Once you finish up with the configuration of the document you can start creating the Payment Receipt. Let’s learn how to enter the fresh set of data for the first time for creating this sort of document;
Location: If you are handling multi locations, select the required location from the dropdown menu. This field is available only if you have configured “Multi location “ON” in configuration ->Company Setup->General Setup”.If your desired Location does not exist in the menu, you can create a New Location by clicking on option within the dropdown menu. You can also Edit or Delete a Location from Here. Select a Location to be edited/deleted and then click on . The Location will be opened in Edit mode and you can edit it and save by click on . You can delete it by click on .
Category : If you are classifying your document in different categories,select the applicable category from the drop down menu. This field is available only if you have configured “Document Classification - ON” in Configuration ->Company Setup->Sales Setup->Basic.You can Add, Edit or Delete a Category by following the process described under Location Tab.
Receipt Date : Enter the date which you wish to reflect in the document. By default, the system will take the current date. You can also pick a different date by just clicking on the calendar function.
Prefix: While configuring your document, if you have opted to “maintain manual prefix”, select a prefix from the drop down list. If the required prefix does not exist in the list, you are able to create a new one by clicking on Icon or option within the dropdown menu and input a name.
Number : While configuring your document, if you have opted to “maintain manual numbering”, enter adocument number here
Customer : Select a Customer from whom the payment is received. You can Add, Edit or Delete a Customer by following the process described under Location Tab.
Cash / Bank : Select the Cash or Bank account where the payment so received is booked /deposited. If the required Cash /Bank GL does not exist in the list, you can create a new one by clicking on Icon or option within the dropdown list and input the same.
Amount : Enter the amount received. If the payment received is in a currency other than your own currency, enter the amount received in that currency without converting it in your own currency. For example you have received $1000, you should enter 1000 here.
Cheque No. : Enter the cheque or other instrument number (if applicable). If payment is received through RTGS/NEFT you can enter RTGS/NEFT reference number.
Bank Ref. : Select a Bank, if applicable, from the drop down list. If the required Bank does not exist in the list, you can create a new one by clicking on Icon or option within the dropdown list and input the same.
Dated : Enter the cheque date, if applicable. By default, the system will take the current date. You can also pick a different date by just clicking on the calendar function.
Currency : If you are preparing Payment receipt in a foreign currency, select a Currency from the drop down menu. This field is available only if you have configured “Multi Currency - ON” in Configuration ->Company Setup->General Setup.If your desired currency does not exist in the menu, you can add a new currency by clicking on Icon or option within the dropdown menu.
Conversion Rate: System will automatically get the conversion rate from currency master, if already created by you. If you wish to change the currency conversion rate for this particular document, you can do the same here.
Fluctuations: This represents currency rate difference arising due totiming gap between the Invoice and payment date.
For example – Your base currency is INR and you made an Invoice for $1000 on 01/01/2017 and rate of $ on that date was INR 60. So you have booked your bill for INR 60000 i.e. 1000 x 60. Now you received payment on 15/01/2017 and rate of $ vs INR on that date was 60.33 and accordingly bank has credited your account by INR 60330/-.
In such circumstances in your books of account you will credit your customer by $ 1000 (INR 60000) and balance of INR 330 you can directly credit to Fluctuations difference account from this menu.
Once you adjust the payment received towards the bill(s) against which payment is received, the system will automatically get the rate of conversion (if earlier configured) and will automatically calculate and account for the difference in Fluctuations difference account if the account is set as default at the time of company configuration.So far we have entered the basic details of the Payment Receipt. We will now see to adjust Bills against this Payment Receipt;
When you will click on , the system will display all the unadjusted Debit / Credit entries of the selected customer, for selected Branch (If applicable) and for selected currency (if applicable).
Before adjusting the bills, let us understand each columns of display list:
Bill No
Here the unadjusted bill/invoice numbers are displayed.
Bill Date
Here the bill/invoice date is displayed.
Bill Amount
Here Bill/invoice Amount is displayed. If your bill is in foreign currency this column will appear twice i.e. one showing the Bill Amount in base currency and other showing bill amount in foreign currency.
Outstanding
Here the net outstanding amount i.e. Invoice amount less amount
already adjusted earlier against this bill/invoice, is displayed. If your bill is in other than base currency this column will appear twice i.e. one showing the outstanding in base currency and other showing outstanding in foreign currency.
Adjust Now
Here you have to enter the amount to adjust against this
Bill/invoice out of the present receipt.
Cash Discount
If you have allowed any cash discount against this document, enter
the cash discount amount.
Net Receipt
The system will display the net receipt i.e. Amount less Cash Discount.
Due Date
Here payment due date is displayed
Reference No.
Here document reference number is displayed.
Reference Date.
Here reference document’s date is displayed.
Once the document amount is equal to amount adjusted, the document will disappear from the outstanding list and the Outstanding Report generated thereafter will help you in proper payment follow up and effective credit control.
Attachment : You may upload any supporting documents, which can be used for the future reference. For example, you may scan and attach a copy of Inward remittance receipt supplied by the Customer. You can browse the location to find the document and attach the same. Click on “X” to remove the attachment.
Total Bill Amount : Based on the data filled in the table, system will calculate the total amount adjusted against various bills/DN/CN/Receipts, and will display here
Less Cash Discount : Based on the data filled in the table, system will calculate the total cash discount allowed in various documents, and will display here.
Net Bank Impact : This represents the actual inflow in the Bank after deducting Bank Charges.The on account payment will appear in the windows of unadjusted payments against the Payment Receipt number and can be adjusted at later stage.All the adjustments made above i.e. cash discount, TDS Deducted, Interest Received, Bank Charges and fluctuation gain/loss shall be posted directly in respective default ledgers as defined by you at the time of Company Setup.
The system will not accept the over adjustment of Bills i.e. negative on account.
Attribute: System will ask for this information only if you have selected to use attributes in General Ledgers (Configuration -> Company Setup-> Finance ->Attribute) and if there is GL where attribute is linked is affected by this Payment Receipt.For Example if you have allocated an attribute with GL “Cash Discount” and an amount is going to be debited / credited by creation of this Payment Receipt, the system will ask to select an attribute to be linked with Cash Discount
: Before clicking this option make sure that the data entered is no more required by you; the moment you click on this option the system will erase all the data and give you an empty screen to enter fresh data.
Attachment : You may upload any supporting documents, which can be used for the future reference. For example, you may scan and attach a copy of Inward remittance receipt supplied by the Customer. You can browse the location to find the document and attach the same. Click on “X” to remove the attachment. 
Net Bank Impact : This represents the actual inflow in the Bank after deducting Bank Charges.The on account payment will appear in the windows of unadjusted payments against the Payment Receipt number and can be adjusted at later stage.All the adjustments made above i.e. cash discount, TDS Deducted, Interest Received, Bank Charges and fluctuation gain/loss shall be posted directly in respective default ledgers as defined by you at the time of Company Setup.
Attribute: System will ask for this information only if you have selected to use attributes in General Ledgers (Configuration -> Company Setup-> Finance ->Attribute) and if there is GL where attribute is linked is affected by this Payment Receipt.For Example if you have allocated an attribute with GL “Cash Discount” and an amount is going to be debited / credited by creation of this Payment Receipt, the system will ask to select an attribute to be linked with Cash Discount
Click on 
to print the document prepared by you. Click here “Print Utility”, to know more about this utility.
Import : Click on 
to Import Data and select a file from which Data is to be imported. Click here “Import Utility”, to know more about this utility.
Schedule : If you want to create a schedule for this document, click on 
. Click here “Schedule a Document”, to know more about this utility.
Open : Click here to open an existing Invoice. Click here “Open a Document”, to know more about this utility.
Copy : Click here to copy the values from an existing Invoice. Click here “Copy from a Document”, to know more about this utility.
option within the dropdown menu. You can also Edit or Delete a Location from Here. Select a Location to be edited/deleted and then click on 
. The Location will be opened in Edit mode and you can edit it and save by click on 
. You can delete it by click on 
. 
, the system will display all the unadjusted Debit / Credit entries of the selected customer, for selected Branch (If applicable) and for selected currency (if applicable).
to save the document prepared by you.
beside Mail and click on Email or SMS.
