Sundry Payments – An overview

Introduction

The Sundry Payments component caters to all the payment needs of an Organization other than to Supplier Payments. To disburse payments like Asset Payments, HR Payments, VAT Payments, Miscellaneous Expenses, etc. where previous liability does not exist, Sundry Payments is therefore used. In these types of payments, the payment and the recording of the expenses happen together in the transaction.

Feature Highlights

• Sundry Payments generate Payment Requests in the form of Payment Vouchers, that contains payment details like Cash or Bank, Payment Mode, Pay Amount, Pay Date, etc. Accounts that are to be debited for the expenses that are paid are also mentioned in the Payment Voucher. The Voucher is forwarded to the Release Payments component for making the payment.

• A single Payment Voucher would request payment for only one bank or cash account and will make payments to only one payee. But several expenses can be clubbed together in a single voucher when the payee is the same.

• The Component supports Account Limit Check, thereby not allowing the user to exceed the limit set on the expense account, if any. Credit Limit Check, is also supported to ensure that sufficient balance exists in bank / cash account chosen for making the payment.

• Payments can be made in any currency provided the bank / cash account and the expense account are of the same currency or the base currency.

• Recurring Vouchers can be generated with different Pay Date Frequencies that can be Daily, Weekly, Fortnightly or Monthly.

List of Activities