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Receipts & Payment Entry

Efficiently Record, Verify, and Manage Cash Inflows and Outflows

The Receipts & Payment Entry feature in PrismERP enables accurate recording and tracking of all incoming and outgoing financial transactions. It supports a wide range of payment methods, ensures real-time integration with accounting modules, and helps maintain financial integrity by linking each transaction to its respective account, customer, vendor, or cost center.

What is Receipts & Payment Entry?​

Receipts Entry is used to record all types of cash or bank inflows, such as customer payments, income from services, or fund transfers.

Payment Entry captures all cash or bank outflows, such as vendor payments, expenses, employee reimbursements, or other disbursements.

These entries serve as the foundation for cash flow management and general ledger updates.

Key Features​

✅ Multiple Transaction Types​

  • Receipts: Customer collections, advance payments, fund transfers
  • Payments: Vendor bills, utility payments, employee settlements

✅ Support for Multiple Payment Modes​

  • Cash
  • Bank (Cheque, EFT, Card)
  • Mobile Banking
  • Fund Transfers

✅ Linked Ledger Posting​

  • Auto-posts entries to General Ledger
  • Supports account head mapping
  • Journal entries are updated in real time

✅ Reference & Reconciliation Support​

  • Link payment to invoices, purchase orders, or bills
  • Reconcile payments with bank statements or outstanding bills

✅ User Access Control​

  • Restrict who can view, create, or approve transactions
  • Maintain audit logs for each entry

Entry Process in PrismERP​

1. Receipt Entry​

Navigation Receipt Entry

Required Fields:

  • Receipt Date
  • Customer/Vendor/Party
  • Payment Method
  • Account (Bank/Cash)
  • Amount
  • Description or Reference

2. Payment Entry​

Navigation Payment Entry`

Required Fields:

  • Payment Date
  • Vendor/Employee/Other Party
  • Payment Method
  • Account Paid From
  • Amount
  • Narration or Purpose

Integrated Modules​

  • General Ledger
  • Accounts Payable & Receivable
  • Bank Reconciliation
  • Project & Cost Center Accounting
  • Budget Management

Use Cases​

  • Receive advance payments for sales orders
  • Make vendor payments for purchase invoices
  • Log petty cash transactions
  • Track project-specific disbursements
  • Monitor inter-branch fund transfers

With PrismERP’s Receipts & Payment Entry, businesses can control their inflow and outflow of funds efficiently while maintaining accurate financial records across all modules.