Payment Module

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As all businesses goes, there will be sales to your customers and purchases from your suppliers. At the same time there will be receipts (payment from your customers) and payments to the goods or services by your business.
 
Here, we are going to learn how to make payments to your suppliers after goods were received ( or once in a while , pay first , receive goods later)
 
Payment module, or sometimes also known as Cheque Register is to record your payment made ( by cheque or cash payment) to your supplier or  any general purchases, at the same time print out a payment voucher to be approved by the authorised personnel.

 

There are 2 ways you can make a payment

1.On credit, ie supplier give you a credit terms of X day  where you receive their goods first and pay X days later ( Accrued basis , Accounts Payable)
2.Cash term , ie you pay cash upon delivery, or one- off purchases

 

 

                                       

 

Continue with next topic: Payment to supplier or General payment

 

 


 

Related Topics

Fast code - Bank

 

Type: Opening

 

Payment to supplier

 

Payment to General

 

Payment : Payroll

 

Print Payment voucher

 

Bank Reconciliation

 

Returned Cheque , Returned cheque - GL payment

 

 

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http://realtimme.cloudapp.net/basic/index.html?payment.htm