Cheque book management is a process to manage different cheque books from the application. This includes cheque payments, receipt, issues, addition of cheque book etc. This helps you to maintain a proper cheque procedures and accounting from the system. Even Bank Reconciliation process related to cheque payment or receipt can be maintained.
1) Cheque Payment: Cheque payment records and generating from the application to the vendor.
Cheque--> New Cheque Payment
Following information fields needs to be filled up for completing the action
Date: Date of payment entry
Amount: Amount field will be automatically generated when the cheque information is filled up
Branch: Assigned Branch from where the cheque is generating
Party Type: Refers to the type of party whom your paying (Basically Company does payment to Vendors)
Party: Name of the party
Account Information: Debit account will be always be accounts payable
Cheque Information: This field gives the description of the payment procedure information: i.e. choosing the credit account (i.e. the bank) , Name of the bank, Cheque book number (if any), Cheque Leaf ( i.e. cheque page number), Cheque Date, Cheque Amount, Project (If the payment is done for any project).
After generating the cheque payment a voucher will be created as CPV-xxx. After generating the cheque payment, it is still in pending status as marked green on the right side of the screenshot below. You need to click on complete button for accounting entry of cheque payment. The screenshot is given below for better understanding.
2) Issued Cheque: Cheque--> Issued Cheque
Shows the list of all the cheque payments in the list with their full details and information along with the status of the cheque payment whether pending, complete or closed. This is basically to track and see the older records of cheque payments. You can also tag a particular PO with the a specific Check payment voucher (CPV-xxx).
3) New Cheque Receipt: Cheque--> New Cheque Receipt
Receiving cheques from the customer or client and generating from the application to keep records for the company in order to track received cheques.
Receive Date: Date of Receiving the cheque
Cheque in Hand Account: From which account the cheque in hand receiving (Usually it is selected default as Bank)
Branch: Assigned Branch of receiving the cheque
Cheque Information: Information related to party, cheque related information assigning, Cheque amount, Sales Man to whom the check was given or the person who has received the cheque.
After completing all the required fields of cheque receipt window, a voucher will be generated as CRV-xxx for the received cheque. Note that although a voucher is generated but it is still in pending state. you have to complete to finish up receiving the cheque and going for financial transaction.
From the above screenshot you can see the voucher is still on hand status it has not been received yet, so by clicking on the issued to Bank will complete the receiving cheque process and will direct hit the accounting
4) ChequeBook: Add new cheque book; Cheque-->Add Cheque Books
Application has provided a special feature of managing a cheque book from the system with number of cheque leafs assigning ( Cheque pages) including prefix.
Cheque Book No: Assigning a book serial number for identifying this cheque book in the system
Bank Account: Name of the Bank of that cheque book
Account Number: Bank Account Number
Bank Name: Name of the Bank
Branch: Assigning Branch
Issue Date: Date of issuing or creating the cheque book
Leaf Prefix: Prefix assigning to identify the pages
First Cheque No: number to start with the first page of cheque book
Number of Leaf: Total number of pages in the cheque book
Last Cheque No: Number to finish the last page of cheque book
Once all of the fields are done then a cheque book will be created and can check that in the list.
5) Cheque Book List page: Shows the list of all the cheque books that are being created and managed from the application.
Left side shows the search filter button to search a cheque book by specific cheque book number, account number, bank, branch
Right side shows the leafs of a specific cheque book. If you select a cheque book from the left side, the right side will show the details leafs (pages) of that cheque book with voucher information, amount, party if any of the leaf has been used or not.