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In this section, Lets learn What is Receipt Voucher and How to raise receipt using Moiboo, Cloud Accounting Software.
What is Receipt Voucher and When Should Receipt Voucher be Issued?
How to raise the receipt voucher using Moiboo software
Where to check the receipt report
A receipt voucher is given when you receive money from a person. The money can be recieved as Cash, Cheque or as Bank Transfer. This voucher is the proof that payment has been received.
When you make a cash sale
Against a previous Credit Invoice
As an advance towards future supply
On sale of Asset
As a Hand Loan
Various other scenarios
In most of these scenarios, the payer will request a receipt from you.
Now, Let us see the format of the receipt voucher.
The format of Receipt Voucher has been provided by the CGST Rules, 2017:
Name, address, and GSTIN of the supplier
Date of its issue
Name, address and GSTIN or Unique Identity Number, if registered, of the recipient
Description of goods or services
Amount of advance taken
Rate of tax (central tax, State tax, integrated tax, Union territory tax or cess)
Amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess)
Place of supply along with the name of State and its code, in case of a supply in the course of inter-State trade or commerce
Whether the tax is payable on reverse charge basis
Signature or digital signature of the supplier or his authorised representative:
Now that you know what is receipt voucher and when it is issued.Let us see, How to raise a receipt voucher using Moiboo Software.
Direct receipt voucher
Payment Against invoice
For Advance against invoice
A direct receipt voucher is made to acknowledge a cash sale, sale of an asset or any other windfall receipts. This attracts taxes as well so its important to record this in Moiboo. Receipt can be made as cash, cheques or by bank transfers.
Go to receipt under income tab.
Click on add receipt.
Select the direct receipt in payment type.
Select Payment mode.
Now select the sales in account and give the amount.
In case you like to add taxes to the payments made, make sure the taxes are enabled while creating an accounting ledger.
Add a notes for your reference.
Payment added successfully.
A payment against invoice is made towards a credit invoice raised earlier to adjust the customer account for balance payments.
Go to receipt under income tab.
Select Payment against Invoice in payment type.
Now select date.
Give the cheque number.
Select the payment mode.
Mention the amount here.
Select the customer.
Add a note for your reference.
Moiboo automatically open and display all the outstanding invoices for that customer. Make sure you adjust each of the invoice which needs to adjusted.
Click save. Payment added successfully.
Manytimes advance payments are made in the course of normal trade. Such advances are adjusted against future invoices of the customer.
Select for advance against invoice in payment type.
Select the tax .After GST, these advances also attract taxes and hence it becomes important to record advances promptly.
Now select the mode of payment.
Click save Payment added successfully.
Moiboo automatically creates relevant accounting entries in the Daybook, ledgers, Financial and Tax Statements as well, so you can save time on separate accounting entries.