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

• The component has the facility to capture the Instrument / Card details and the form of payment received from the customer

• The component provides facility to return the receipt before authorization for making any corrections.

• The component enforces authorization of the receipts to make them available for adjustment.

• The component provides an option to capture the debit documents for adjustment

• The component facilitates the adjustment of receipt, manually or automatically against the debit documents captured, on LIFO or FIFO basis.

• The component enables the holding of receipts against adjustment and also releasing of receipts for adjustment that are already held.

• The component facilitates the reversing of receipts (automatically/manually) on bouncing of instrument.

• The component facilitates the generation of bank collection batch.

List of Activities