Payment is the transfer of money or goods and services in exchange for a product or service.
Payment is the transfer of money or goods and services in exchange for a product or service..A payment can be made in the form of cash, check, wire transfer, credit or debit card etc..Payments in ACCOXI deals with small amount of Payments to the business. The huge amounts from the suppliers are normally entered in purchase module => payments made
Accoxi is most affordable and free invoicing software for small business which takes care of your Accounting, Billing, Inventory, GST and all other accounting needs. Tired of managing payments in your firm? This video shows you how Accoxi enable the users to record or create Payments easily. Key Features:- • Eliminates the need of bigger forms like payments made for small payment transactions. • Can keep a separate form for petty cash payments • Automatic reference number is kept for easy identification • Can enter details of bank instruments used
Key Features:-
STEPS TO ENTER A NEW PAYMENT
|
FIELDS |
DESCRIPTION |
|
Rf. number |
Reference number is automatically generated by the ACCOXI for easy identification of payments |
|
Instrument type |
User should select the type of instrument used for the payments If the instrument is cash the next columns like instrument number, date and bank name will be blocked. |
|
Date |
User can enter the date of the journal entry By default the date of entering the transaction will be appeared. |
|
Party name |
The name of the recipient is entered in here |
|
By account |
User should select the mode of account which is accounts like cash or through bank. The + button can be used to add new ledger account from this window itself it ill redirect the user to new ledger window. The refresh button helps the user to refresh the by account drop down list and to view the changes made in the list |
|
Bank name |
Enter the name of the bank through the payment is being made |
|
Instrument no. |
Enter the instrument number if the payment is made through bank instruments other than cash |
|
Instrument date |
Enter the instrument date if the payment is made through bank instruments other than cash |
|
Narration |
The narration for the transaction can be entered here |
|
# |
Serial number of table content |
|
Account |
The user can enter the account of the recipient from the drop down menu. |
|
Narration |
Then user can enter narration to corresponding account
|
|
Amount |
Then user can enter payment amount |
|
Delete |
This option can be used to delete the entries. |
|
Total |
The total receipt amount is shown in this column. |
|
Amount in words |
Shows amount entered in words |
|
Save as draft
|
User can save the payments as draft for further alterations and can convert to voucher later |
|
Save as voucher |
By clicking save as a voucher the payments entered by the user will be saved and a validation message will pop. It will be visible in transaction menu. User can track the payments using the reference number of the transaction
|
|
Clear |
To clear the data entered in the payments window this option can be used |
|
Refresh |
If your latest data is not displayed, click on the refresh icon on the top left corner of the page to fetch the new data.
|
|
Exit |
To close the payments window without saving. User can click the exit button. |
Go to Accounts module => transactions. The payment vouchers can be viewed under transactions menu