Customer Receipt - An overview

Introduction

Any business organization in its normal course of operations provides goods or services to external agencies. Receipts of consideration for these goods / services are cash inflows to the business unit. Those Receipts are recorded through Customer Receipt component, which forms the core transaction of the collection process. The component captures the activity of recording the cash inflows of the organization by generation of Receipts.

Feature Highlights

•      Captures the Instrument details and the form of payment received from the customer

•      Facility to return the receipt before authorization for making any corrections

•      Authorization of the receipts to make them available for adjustment

•      Option to capture the debit documents for adjustment

•      Adjustment of receipt, manually or automatically against the debit documents captured, on LIFO or FIFO basis

•      Reversing of receipts (automatically/manually) on bouncing of instrument

List of Activities