Create Receipt – A summary of the activity

This activity allows you to create a receipt for any payment received from the supplier.

• This is created when the suppliers have to keep some security deposit with the customers, or when they have to give some initial amount against tenders, or when they return money for goods returned, or when they decide to discontinue business relation and settle dues in case of any disputes.

• The receipt will be generated which will be picked up for payments or adjustments or both.

Payments can be received in the form of checks, demand draft, direct credit and cash. This payment can be adjusted against the corresponding invoice. Adjustments can be made automatically by the system or it can be done manually. The business requirements govern the method to be followed during the adjustment process. This activity allows you to modify the details of the newly created supplier receipt. This activity also allows you to view the account posting details of the receipt in the selected finance book.

Once the receipt is created it can be authorized for posting in the selected books of accounts. You can view the posting details of the authorized receipt.

Getting familiar with the pages inside