21 September 2009 ~ Comments Off

Vouchers

Bookkeeping is an essential part of any business operation. RiseMoney allows you to take control and plug leakages in your system by making Voucher entry as easy as possibly while keeping business rules in mind.

In our terminology, Voucher is a form of making a double sided balanced entry. The total amount of debits MUST equal the total amount of credits. As such, a voucher is a collection of “Journal Entries”. Each Journal Entry is either a credit or a debit. Each Journal Entry also has a “Ledger” and an amount. Voucher contains the overall details of that particular transaction.

There are various types of Vouchers that get created, such as Receipts, Payments, Journal and Contra. Finance business has a number of business specific vouchers such as as Loan Voucher (or Hypothecation Voucher), Fixed Deposit Voucher and the generic plain old account voucher. RiseMoney also uses Automatic vouchers for internal processing.

The video below shows the method of different types of voucher entry with an explanation of the process in RiseMoney.

If you can't see the video above, visit http://screenr.com/Gl7

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