How to Declare a Voucher As Post Dated Press ?

A voucher is an accounting document that is used to record and authorize payment of a liability. It is used by companies and governments that issue accounts payable bills to suppliers and vendors.

A voucher records all of the necessary documents that are required to approve and track a liability. It can include a supplier’s invoice, amount owed, due date, general ledger accounts, and shipping receipts.

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Receipt Voucher

A receipt voucher is a business document that is prepared when the company receives payments from its customers. It is often used in place of printable receipts, and it can serve as a proof of purchase. It is also a form of money tracking mechanism that is typically reconciled with one (or some) of the transaction in the company bank account.

It is important to understand the difference between a voucher and an invoice so that you can prepare the correct type of document in OAKS FIN. You may find that the two documents are similar in some ways, but there are also certain uses of the receipt voucher that cannot be applied to an invoice.

OAKS FIN uses the invoice number as a reference to check for duplicates when a voucher is saved, so it is important to enter this number correctly. Invoice numbers must have a combination of leading zeros and special characters for OAKS FIN to recognize them. If the invoice number does not match, OAKS FIN will return the voucher to you to fix it before you save it.

You can use additional search criteria to locate receipt records that match a particular supplier or item number. You can then choose records to return to the Voucher Match program to create a voucher for the match.

When you create a voucher using receipt records from multiple purchase orders, you can set header defaults for the Voucher Match program to reflect purchase order header information for the first receipt record that displays. The system uses this information for the voucher you create and any journal entries that are created based on the receipt records.

* Post dated vouchers are treated differently from normal vouchers, and they affect regular books of accounts on the date that the voucher is issued. This can lead to some issues with reconciliation, but it is an option that you can declare in your OAKS FIN settings and can be useful for managing these types of transactions.

In OAKS FIN, you can also view the Ledger Monthly Summary of a group or ledger to see all receipt and payment transactions for the selected ledger. You can then drill down and see the details of each voucher. You can also view the total amount of the voucher and the amount of the bill against which it was recorded, both in a table format.

Payment Voucher

A payment voucher is a document used to record payments owed to vendors. It is often printed in addition to a purchase order, shipping receipt and invoice. The owner reviews the payment voucher before signing a check, and general ledger accounts are recorded that match the transaction. The company can then debit the inventory account and credit the cash account to show that the voucher was paid.

To create a payment voucher, click the Create Voucher button. A new page opens where you enter the document’s information. The first field is the Supplier Invoice Number. The second field is the Quantity, and the third field is the Unit Price. The system automatically calculates these values based on the Charge Basis. You may also type a negative value to indicate that you are acknowledging payment for a discount.

You can use the Add Account Codes field to assign Cost Center distribution to line items on the Payment Voucher. The system will bring over all of the line item information from the Create Voucher page and allocate it to one or more Cost Centers. The system will also allow you to change the Distribution Level of each line item.

When this field is blank and EFT is set to Yes [Y], the application type is automatically taken from the referenced Vendor Invoice (VI) documents as long as the application types on all of these documents are the same. Otherwise, you must supply this field.

If this field is not blank, select a vendor from the Vendors list on the Edit Document page or from the drop-down box in the Payment Voucher tab. You can also select an existing vendor by clicking on the arrow next to this field.

The system will then calculate the discount amount and display it as a negative value on the Payment Voucher. The discount must balance to the original voucher’s open amount. If the open amount is positive, it cannot be more than the original voucher’s discount.

To declare a voucher as post dated press, select the T : Post Dated option on the Create Payment Voucher page. This option causes the voucher to be marked as a post-dated press and affects the regular books of accounts on the date specified.

Optional Voucher

There are certain vouchers which you may not want to post anywhere in your books and for that you can mark them as Optional. When you do that, the voucher does not get posted and remains in your optional voucher register. You can view this list from the Exception Reports menu and also from your Day Book.

For example, suppose you receive goods on approval and want to record this in a voucher but do not know what details it involves. You can enter the voucher as a Memo and amend it when you have more information about it. Or you can delete it if you do not need it anymore.

The Memo voucher is a non-accounting voucher which can be used when you do not want to put the details in your books. It is similar to the Sales Voucher but does not have the feature of being converted into an Invoice for entry purposes. You can also use the Memo voucher for recording future sales projections.

You can enter a voucher with the following fields: Ledger Account, Customer’s Name, Address and Despatch Details (If Accept supplementary Details option is set to Yes in F12: configure). For delivery notes or receipt notes you must have Set Use Tracking Numbers set to Yes in your Work with Voucher Additional Information form.

Alternatively, you can create an inventory voucher to record the stock item. You can then enter the components of the stock items, storage locations and godowns for each component. You can also set the quantity and rate for each component.

If you have a stock item that is sold on credit, you can enter a voucher for it with the following fields: Ledger Account, Company’s Name, Customer’s Name, Address and Despatch details (If Accept supplementary Details option is set in F12: configure). For example, when you sell software on credit, you might enter a voucher for it and enter a Net Due Date.

Unlike the standard inventory voucher, you can enter discounts on this voucher as percentages of the gross amount. For example, if you enter a 10 percent discount on the net value of the purchase order, the system calculates and assigns the discount as a percentage of the gross amount and then distributes this to the appropriate GL account.