Realize Receipt – An overview

Introduction

In its normal course a business organization collects its cash inflows through various receipt modes. The different receipt modes could be Cash, Check, Demand Draft, Pay Order, and Credit Card or through Electronic Funds transfer. Physical instruments such as Checks, Demand Draft and Pay Orders collected by a company at its various collection centres need to be deposited in the bank for realization of the payment.

This Realize Receipts component facilitates the above functionality of depositing such financial instruments (Checks and DD’s) to the bank. If the instruments, thus received are not realized, the component also helps in bouncing of the instrument.

Feature Highlights

• The Component facilitates generation of Pay-in-Slips to deposit the Checks received during the process of recording Receipts.

• The Component facilitates the removal of particular instrument from the Pay-in-slip.

• The Component supports the bouncing of Instruments.

• The Component supports reversal of entries on bouncing of instruments.

• The Component supports realize receipts for HRMS related transactions like employee loan refunds realize receipts from suppliers and realize receipt from VAT transactions.

List of Activities