According to the Accounting Principle there are four types of voucher
1) Payment Voucher 2) Receive Voucher 3) Contra Voucher 4) Journal Voucher
PrismERP application also follows the same principle, however it also provides some additional customized vouchers in order to make the voucher process easier for any user of a company or an organization. They are provided below:
1) Expense Voucher 2) Advance Receive Vouchers 3) Payment Journal 4) Receipt Journal 5) Receipt for Multi-Customer 6) Receipt for SO 7) Payment for SO
1) Payment Voucher:-It is a voucher or document which is done against a vendor for doing the payment and can be used as a proof for monetary transaction between two parties. Also Payment voucher can be used for other purposes but generally it is done as a payment to vendor from the application. Payment voucher can also be done against a particular purchase order (PO) which is in due of that vendor.
In order to create a payment voucher. go to Voucher--> Payment. A window will appear as shown below:
Date: Date of creating the payment voucher
Amount: Amount of payment
Payment method: Method of payment whether cash, cheque, bank deposit, card
Reference Voucher: Payment done against a specific purchase order if there is any due
Party Type: Type of party to whom payment voucher is creating ( Generally it is for Vendor)
Vendor: Name of the Vendor
Branch: Selecting the Branch
Account Information: Debit/ Credit Accounts selecting the proper account for correct financial transaction
After filling up all the requirement and going for further proceed a payment voucher will be generated and will be visible in the voucher as shown below:
Notice that from the screenshot after generating the voucher it is showing the icon of excalamation which indicates that although you have generated a voucher but it is in pending state, so in order to change the status select the specific payment voucher number and then click on the accept button shown at end of the screenshot so that payment voucher gets accepted and go for financial transactions.
2) Receive Voucher:-Receive voucher is the document which will be generating where you will receive the money from the party (specially customer).
Date: Date of Entry
Amount: Amount to be receiving
Payment Method: Method of Payment whether cash, cheque, card etc.
Reference Voucher: If you want to make a receive voucher against a particular sale order (if any)
Collection Person: You can assign a person for collecting the money from the party (optional)
Party Type: Choosing the party type from whom you will be receiving ( Generally it is customer)
Customer: Name of the customer from whom you will be receiving
Receipt Book and Receipt Leaf: if you are maintaining any receipt book and leaf you can assign that book name and page number (Leaf refers to page number)
Account Information: Debit/ Credit information of proper accounting hitting.
Similar like payment voucher after generating a window will appear with exclamation sign of that receipt voucher indicating that it is in pending state. you need to accept that for approval of the receipt voucher.
Receive voucher number is generated as RV-xxxx
3) Contra Voucher:-Contra Voucher refers to the feature of transferring cash from one account to another account or one cash account to another bank account. In Short we can transfer of funds from one account to another account.
Date: Date of Entry
Amount: Amount to be transferred
Payment Method: Method of Payment
Party Type: Type of party to transfer too
Debit Account: Account from where the cash is transferring
Credit Account: Account where the cash is getting in
Similar way pending state will come after the contra voucher generate and you need to accept the approval for final completion
4) Journal Voucher: Vouchers--> Journal Voucher
Journal voucher is prepared for the transactions which does not relate to sales, purchases, cash, bank, material returns. Journal vouchers are prepared for the following transactions:-
• Opening balances
• Purchases of fixed assets and other assets on credit
• Sale of fixed assets and other assets on credit
• Depreciation on fixed assets.
• Purchase of any items relating to business expenditures on credit
• Adjustment entries.
• Closing entries.
• Correction entries.
• Transfer entries.
• Provisions for expenditures
• Accrual income
1) Expense Voucher: Voucher generating from the application related to expense in your company or organization
In the expense voucher note all the requirement fields. In the account information the debit account will be the expense account because the money which will be use for expenditure will be chosen from debit account and credit account will be accounts payable.
2) Advance Receive Voucher:-Advance recieve voucher refers to the voucher of a receive order or receiving an advance money from the customer or client, a voucher will be generated related to that.
Voucher--> Advance Receive
Advance Receipt Voucher has a similar feature fields as normal receipt voucher in the system just additional information you need to assign is the product for which you are taking the advance money and its total amount.
The advance receipt voucher will generate as ARV-xxx after generating it will stay in pending state similar to like other vouchers procedure. You need to accept in order for approval
3) Receipt for Multi Customers:
Vouchers--> New Receipt for Multi Customers
Generating a receipt voucher against multiple customers. Screenshot is given below:
In Account information you will choose the multiple vouchers which will be generated into which accounts, date of voucher , Amount, Party, Collection person all details can be filled up easily to make your voucher procedure easier. After generating the voucher it will generate as RV-xxx and it will be in pending state. You need to accept the approval for confirmation of the receipt of multi customer.
4) Receipt against Multiple Sale orders:-Generating a receipt against a customer's multiple sale order is possible from the application. This is a customized feature provided to make things easier for altogether receiving of more than one sale order of a specific customer.
Vouchers--> Receipt for SO
Note that here you need to select the customer name after selecting the customer you will see at the end of the screenshot it will show all the sale orders that has been done against that customer with the paid amount and due amount, Now you might not receive the total due amount from all the sale order. you have received some portion of it. Automatically it will adjust the amount divide with the proper calculation and will show in the amount section. The screenshot is shown below with the label marked as green for the amount section