Welcome! How can we help?

Reach is the only Accounting Software which is customised to suit 18 different business end to end.

Chapter 5 | Expenses

Payment Vouchers

Now let us learn what is Payment Voucher is and How to raise payment using Moiboo, Cloud Accounting Software.

Learning Objectives

  1. what is Payment Voucher and When Should Payment Voucher be Issued?

  2. How to raise the Payment voucher using Moiboo software?

  3. Where to check the Payment report?

What is a payment voucher?

In the course of business multiple payments are made everyday. For example, Payments are made for Salaries, Travelling and Other office expenses. Payments are also made towards buying assets for the business. Payments can be made towards a current expense, as an advance to a supplier or towards an outstanding supplier Invoice. Payments are mostly made in cash, cheque or as Bank transfers. Everytime a payment is made, A voucher has to be prepared in the accounting software and be attested by the payee. This is to have a proof of payment for audit and tax reasons.

How to raise a payment voucher using Moiboo Software?

Now that you know what is Payment voucher and when it is issued.Let us see, How to raise a Payment voucher using Moiboo Accounting Software.

There are three types of payment voucher.

  1. Direct Payment Voucher

  2. Payment Against bill

  3. For Advance against Expense

Direct Payment Voucher

First, I will show you how a Direct Payment Voucher is made. You should create a direct payment voucher for recording cash expenses like travelling, office expenses and wages. Now let see how to raise direct payment voucher.

  1. Go to payment under expense tab.

  2. Click on add payment button.

  3. Select the direct payment in payment type.

  4. Select date and payment mode.

  5. Now select the expense in account and give the amount.

  6. In case you like to add taxes to the payments made, make sure the taxes are enabled while creating an accounting ledger.

  7. Add a notes for your reference.

  8. Now Click Save. Payment added successfully.

Payment Against bill

Next, Let us see how a payment against a previously recorded bill is made. Such payment is made if the supplier has issued a bill already which has been recorded in Moiboo Software and subsequently payment is made on the due date.

  1. Go to payment under expense tab.

  2. Click on add payment button.

  3. Select Payment against bill in payment type.

  4. Give the cheque no and date.

  5. Select vendor.

  6. Mode of payment.

  7. Add a note for your reference.

  8. Now adjust the amount here.

  9. Now Click Save. Payment added successfully.

For Advance against Expense

Now let us see how an Advance made against an expense is recorded in Moiboo Software. In the course of business, we might come across a scenario where we make some advance payments to suppliers which gets adjusted later when the supplier sends a bill.

  1. Go to payment under expense tab.

  2. Click on add payment.

  3. Select for advance against bill in payment type.

  4. Now select date.

  5. Select the tax .After GST, these advances also attract taxes and hence it becomes important to record advances promptly.

  6. Give the cheque number.

  7. Select Vendor.

  8. Now select the mode of payment

  9. Mention the amount here.

  10. Add a note for your reference.

  11. Click save Payment added successfully.

Once Bill are made, the Collection Report gets updated automatically in Moiboo. The Overdue bill reports are adjusted too.