How to make Receipt & Payment Transaction?
The Receipt & Payment module provides a centralized platform for managing all financial transactions. It enables users to record, monitor, and manage receipts (money received) and payments (money spent) across various account heads such as Expenses, Income, Assets, Equity, and more. This ensures accurate financial tracking and streamlined cash flow management.
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Open the Receipt & Payment Module
Navigate to the Receipt & Payment module from the sidebar menu. -
Click on "New Transaction" tab
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Enter Transaction Details:
- Date: Select the transaction date using the calendar icon.
- Code: A unique transaction code will be generated automatically.
- Select Type: Choose the type of transaction (e.g., Spend Money, Receive Money).
- Select Account: Choose the bank or cash account associated with this transaction.
- Select Campus: Specify the campus for which the transaction is being made.
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Add Reference and Description:
- Reference No: Provide a reference number if applicable.
- Description: Add a brief description of the overall transaction for record purposes.
- Account Description: Include details about the selected account (Cas/Bank) ,it helps in tracking and identifying the purpose of the transaction during audits or reviews.
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Select Filter and Account Head:
- Filter: Choose the appropriate filter (e.g., General Transaction).
- Account Head: Select the relevant account head (e.g., Liabilities, Expenses).
- Description: Provide additional details for the selected account head.
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Enter the Amount:
- Specify the amount for the transaction in the Amount field.
- Ensure that the debit and credit amounts are accurate and balanced.
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Save the Transaction:
- Click Save & Close to save the transaction and exit the form.
- Or click Save & New to save the transaction and create a new one.
Your transaction will now appear in the Cash Transaction or Bank Transaction list, depending on the selected account type.