Reach is the only Accounting Software which is customised to suit 18 different business end to end.
Now let us learn what is Payment Voucher is and How to raise payment using Moiboo, Cloud Accounting Software.
what is Payment Voucher and When Should Payment Voucher be Issued?
How to raise the Payment voucher using Moiboo software?
Where to check the Payment report?
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.
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.
Direct Payment Voucher
Payment Against bill
For Advance against Expense
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.
Go to payment under expense tab.
Click on add payment button.
Select the direct payment in payment type.
Select date and payment mode.
Now select the expense 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.
Now Click Save. Payment added successfully.
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.
Select Payment against bill in payment type.
Give the cheque no and date.
Mode of payment.
Add a note for your reference.
Now adjust the amount here.
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.
Click on add payment.
Select for advance against bill in payment type.
Now select date.
Select the tax .After GST, these advances also attract taxes and hence it becomes important to record advances promptly.
Give the cheque number.
Now select the mode of payment
Mention the amount here.
Click save Payment added successfully.
Once Bill are made, the Collection Report gets updated automatically in Moiboo. The Overdue bill reports are adjusted too.