- Receivable Transaction
- 2015-05-11 09:47:07
1. The creation of customer transaction documents such as invoice, debit memo, credit memo, etc.
2. Matching/Applying the transaction document wherever applicable to the other related document.
3. Validating & Accounting the transaction documents
InoERP supports different types of receivable transaction documents
Invoice is a commercial document that you issue to your customers, relating to a sale order shipment and indicating the item number, quantities, and sales prices for products or services.
An AR invoice may create against a sales order, or against item shipped through a blanket release, or against item shipped to an internal organization, or against an e-commerce sale.
You can also manually create invoices for sales done outside system.
When you complete and account an invoice, system automatically generates the receivable & accounting entries.
2. Credit Memo
A credit memo is a document issued to your customer to reduce the amount that your customer owes to your organization under the terms of an earlier invoice. Credit memo usually includes details of earlier invoice, reason of the credit memo, the credit memo amount, etc.
You can directly create a credit memo by creating an earlier invoice or by receiving an RMA order.
A credit memo may be issued because of various reasons such as your customer returned against a returned material authorization, the price on the earlier invoice was incorrect, or there was a price reduction due to new blanket agreement, etc.
3. Debit Memo
Debit memo is a similar document like an invoice. It is a positive amount invoice created by you and sent to a supplier to notify the customer of a debit you are recording. You can auto-generate a debit memo while applying a receipt to an invoice.
Deposit is an invoice that you create to get an advance payment from a customer before shipping the goods.
Each AR transaction document consists of 3 different levels of data
1. Header Level Information
2. Line Level Information
3. Account Level Information
You can create a transaction order by various different methods.
1. Manually entering all the header, line & account details
2. Auto creating an invoice through sales order shipment, POS transactions.
3. Importing all the header, line information from an excel file.
4. Copying an existing transaction in the transaction form.