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Unit 6 – Transactions 139

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Unit 6 – Transactions 139

Accounts Detail grid

Under Account Details grid, you can select the accounts to be debited and credited and the debit / credit amount. Basically, you have to specify the parties to whom payment has been made and the payment mode i.e. cash or bank. Various fields under the Accounts Detail grid are:

D / C

Select ‘D’ if the account you will select next is to be debited otherwise select ‘C’ if the account you will select next is to be credited.

Account

Select Account to be debited / credited.

Debit

Focus comes to this field, if you have selected ‘D’ in the D / C data field. Enter the amount to be debited.

Credit

Focus comes to this field, if you have selected ‘C’ in the D / C data field. Enter the amount to be credited.

Short Narration

Enter short narration for the entry in this data field. For example, if you are making payment through cheque then you can enter cheque number in this data field.

Long Narration

Enter long narration for the voucher in this data field.

After entering appropriate details in the data fields, click the Save button to save the Payment voucher. On clicking the Save button certain windows appear. The appearance of these windows is dependent on the account selected in the Account Details grid. Let us discuss such windows one by one.

Bill-by-Bill Adjustment of Account

This window appears if you have selected an account for which Maintain Bill-by-bill Balancing option is enabled in the Account master. In the Bill-by-Bill Adjustment of Amount window, you can adjust the amount paid to any existing reference or can create a new bill reference. For example, Star Electronic Company has purchased goods worth Rs. 6,30,000 from Sony India company for which it has created various bill reference with different due dates. Now when the Star Electronics Company will make the payment then it will enter a Payment voucher and adjust the amount paid with the bill reference due on that date. Given here is a screenshot of Bill-by-bill Adjustment of Amount window displaying adjustment of the payment amount.

140

Figure 6.12 Bill-by-bill Adjustment of Amount

In the Bill-by-Bill Adjustment of Amount window, you can select the reference to which you want to adjust the amount paid. If you do not want to adjust the amount paid to any bill reference then you can create a new reference also.

VAT Adjustment Details (Payment / Tax Adjustment / Refund)

This window appears if you have selected an account for which Tax Category is selected as VAT in the Account master. Given here is a screenshot of VAT Adjustment Details (Payment / Tax Adjustment / Refund) window.

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