Create Receipt – A summary of the activity
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This activity allows you to create a sundry receipt for a payment that has been received from any source other than a customer or supplier. A sundry receipt is created when payments have been received from insurance companies as a settlement towards the claims raised, from employees in the organization, from statutory authorities for the refund of the tax paid or from other sources towards the working capital and the share capital of the organization. This activity allows you to provide the account in which the financial postings must be made for the receipt. The usage provided could also decide the financial postings.
This activity also allows you to enter all information pertaining to the remitter (person or organization) from which the payment has been received. You can also view the details of the financial postings that have been made in the various accounts. These financial postings can be viewed in the base currency of the company. The financial postings can also be viewed in the parallel base currency of the company if the company has a parallel base currency.
Getting familiar with the pages inside
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Create Receipt |
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Remitter Information |
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Accounting Information |
What you can do in this activity
View the various account postings
Sundry receipts are raised for payments that have been received sources other than customers or suppliers. Typically sundry receipts are raised when payments are received from insurance companies for the claims raised, from employees in the organization, from statutory authorities for the refund of the amount paid or from any other source like share capital etc. Financial postings are made for the payments that have been received against the selected account codes or usages in the selected finance book.
Go to “Create Receipt” page.
Enter the necessary information.
Unique numbers are generated for the sundry receipts. These numbers are generated with the corresponding prefix and suffix of the selected numbering type and incremented from the last generated number.
Go to “Create Receipt” page.
Create the invoice.
A sundry receipt can also be raised for a payment received in a currency that is different from the base currency or the parallel base currency of the company. The system retrieves the exchange rate of the receipt currency. If required this exchange rate can be modified. The modified exchange rate must fall within the tolerance limit set in the “Exchange Rate” business component.
Go to “Create Receipt” page.
Modify the exchange rate if required.
Sundry receipts can be authorized immediately on creation if the payment details have been updated. The details of the authorized receipt cannot be modified. The status of the sundry receipt is updated as “Authorized”.
Go to “Create Receipt” page.
Enter the necessary information and authorize the receipt.
A sundry receipt is created for payments that have not been received from a registered customer or supplier. The details of the remitter (person or the organization) on which the receipt has been created are required. The mailing address of the remitter along with the electronic mail details can be entered.
Go to “Remitter Information” page.
Enter the details of the remitter.
View the various account postings
The receipt amount is debited or credited into different accounts. The various postings that occur for a transaction can be viewed account wise in both the base currency and the parallel base currency of the company.
Go to “Accounting Information” page.
View the account posting details.