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Payment Cheque

Document Authorizing Bank to Pay a Specified Amount to a Recipient​

A Payment Cheque is a formal financial document issued by a payer, instructing their bank to pay a specified amount of money to a designated recipient. It serves as a secure and traceable method for transferring funds from one party to another.

What is a Payment Cheque?​

A Payment Cheque acts as a written order directing the bank to debit the payer’s account and credit the payee with the stated amount. It is widely used in business transactions, vendor payments, salary disbursements, and various other financial dealings where direct bank transfers may not be feasible or preferred.

Key Features of Payment Cheque in PrismERP​

  • Cheque Generation and Management
    Create and print payment cheques with accurate payee details, amounts, and dates.

  • Bank Integration
    Link cheque issuance with bank accounts in the ERP system for automatic ledger updates.

  • Cheque Tracking
    Monitor cheque status including issued, cleared, bounced, or cancelled.

  • Authorization Workflow
    Set up multi-level approvals to ensure cheques are authorized by designated personnel.

  • Audit Trail
    Maintain detailed records of cheque issuance, approvals, and clearing for compliance and review.

  • Multi-Currency Support
    Issue payment cheques in different currencies with real-time exchange rate handling.

  • Cheque Register Reports
    Generate comprehensive reports listing all issued cheques, outstanding cheques, and cleared payments.

Who Should Use Payment Cheques?​

  • Finance teams managing vendor and supplier payments
  • Payroll departments issuing employee salaries and bonuses
  • Organizations requiring formalized payment documentation
  • Businesses in regions where cheque payments remain standard practice

PrismERP’s Payment Cheque module simplifies the process of cheque issuance and management, ensuring secure, compliant, and efficient payment workflows.

Request a demo today to explore how the Payment Cheque feature can support your financial operations.