Finance Module
  • Advance Payments
  • Payment Against Bill
  • Retention Payment

Advance Payments

  • Advance Payments to Suppliers
    • Allows entering Advance Payments against existing Purchase Orders of the selected Vendor.
    • A list of 'Regular' Purchase Orders raised against the selected Vendor Account is displayed against which payments are pending.    Sample
    • Details such as Purchase Order Number, Date and Purchase Order Value are displayed for reference.
    • Allows selecting a particular Purchase Order against which payment is to be done.
    • A history of already paid amount against the same Purchase Order is maintained.
    • Checks that the Amount paid is not more than the Purchase Order Amount.   
    • Converts the Payment Amount in Domestic Currency in case the Vendor deals in Foreign Currency.
    • Allows entering TDS and WCT categories for tax deductions. Net Advance Amount is calculated accordingly.
    • Once the transaction is Checked and Authorized, its posting can be seen in Ledger Posting Check List Report wherein the Sundry Creditor Account is debited and the General Ledger is credited.
    • Once the material is received against the Purchase Order in the warehouse and the Goods Receipt Note is authorized, GRN Voucher is raised automatically. In case the QC flag is set to 'Yes', GRN Voucher is raised once the Quality Check is done for the particular GRN.
    • Once this transaction is over, the posting can be seen in the Ledger Posting Check List Report wherein the Inventory of that Material Class is debited and GRN Liability is credited.

Payment Against Bill

  • Payment Against Bill can be done after bill is passed for a particular Vendor once material is received.
  • A list of existing Bills passed against the selected Vendor Account is displayed along with Bill details and Voucher Amount to select from.   
  • Facility to make partial payments against bill.
  • Checks that Payable Amount should not be more than the Pending Amount.

Retention Payment

  • Retention Payment can be done against those Purchase Orders for which Retention Amount has been specified while booking the Bill.
  • A list of such Bills is displayed to select from. Purchase Order Number and Amount, Total Retention Amount and Retention paid till now are displayed for reference.    Sample
  • Facility to make partial Retention Payments against Bill.
  • A history of previous Retentions paid to the Vendor is maintained.
  • Checks that Retention Amount should not be more than the Total Retention Amount.

<< Back
Help Line Number 

+ 91(79)2685-1462
+ 91(79)2685-0982
© 2015 SourcePro Infotech Pvt. Ltd. All Rights Reserved
Website designed by SourcePro Infotech Pvt. Ltd.