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How to record a payment and a receipt
Record money you receive and money you pay out against the right customer or supplier, then check the day in the day book.
· 1 min read · Hexabooks
Every business moves money in two directions. Money comes in from a customer, and money goes out to a supplier or for an expense. In Hexabooks, the first is a receipt and the second is a payment. Each one is a voucher that you record against the right party.
Record a receipt when you are paid
When a customer pays you, record a receipt. Choose the customer, the date and the amount, and say whether the money went to cash or to the bank. The receipt reduces what the customer owes you, so your dues stay correct.
Record a payment when you pay out
When you pay a supplier, record a payment. Choose the supplier, the date and the amount, and say where the money came from. The payment reduces what you owe that supplier.
Check the date and the amount
Dates are recorded in BS, and amounts are shown in lakh and crore, so what you enter matches what your team reads. Check the amount before you save. If your business uses approvals, the voucher counts once it is approved.
Choose the right party
The most common mistake is choosing the wrong customer or supplier. Look at the name before you save, so the right account shows the change.
Review the day in the day book
At the end of the day, open the day book. It lists every voucher for the dates you choose, grouped by type, with debit and credit totals. Receipts and payments appear next to your sales and purchases, so you can read the whole day in one place. You can download the day book as a PDF or an Excel file.
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