Master Data Management > Accounts

Main Menu > Master Data Management > Accounts > Mode of Payment

Payment of a bill may be received or adjusted in several ways. You have to create a MOP (mode of payment) type for each mode of payment you use in the voucher.

In the Tender Screen at the end of each sale bill, you enter the MOP and corresponding amount received or adjusted through each mode. Multiple MOP may be selected against a sale bill

The following are system defined MOP

•	Cash (System created, you can create new and associate a ledger with it)

•	Credit Card (System created, you can create new and associate a ledger with it)

•	Credit Note Adjusted (System defined, you cannot create new MoP)

•	Credit Note Issued (System defined, you cannot create new MoP)

•	Credit Sale (System defined, you cannot create new MoP)

•	CRM Point Redeem (System defined, you cannot create new MoP)

•	Advance against Order, (System defined, you cannot create new MoP)

Note: During the creation only two type of type will be shown “Cash” and “Credit Card”.

Cash

This mode is available in Sale, Sale Return and Sale Order.

In Cash mode only, you can enter higher amount Tendered than the bill amount. The excess amount is shown as ‘Balance to Return’.

Credit Card

This mode is available in Sale, Sale Return and Sale Order.

Credit Sale

This mode is available in Sales, Sales Return and Sale Order.

You can select this MoP only when select a customer (under debtor).

Then create a separate receipt voucher

CRM Point Redeem

Available in Sale and Sale Return transaction.

Default Account Name “CRM Points Redeem” Under Expenses Group is linked to this mode.

Through this, you adjust the Reward Point in Credit of the Customer against the sale bill, as payment.

•	You have to define the point to currency conversion in the card type.

•	For example if you want to treat 100 points as 1 Rupees for the Gold Card. Then enter “Point to Convert” = 100 and “Equivalent Currency “ = 1 in the Gold Card Master.

•	This mop will not take more than the total converted value.

Advance against Order (Sale Order Adjust)

“Advance against Sales Order “under current liabilities is linked to this mode.

•	A Sales Order must be selected to get this mode.

•	During the sale entry, advance reference must be selected

•	No change can be made against the MOP.

•	The balance (if any) must be paid in other MOP.

If a customer needs to pay more on behalf of previous order, then go to the receipt entry and select the account “Advance Against Sales Order”.

Select the order number and enter additional amount

Accounting Entries during Sales Order Creation

•	By Chosen MOP Account Debit

•	To Advance against Sales Order Credit

(One reference will be created) Naming convention – AdvSO / Account Serial number

Accounting Entries during Sales

•	MOP Cash (the balance amount) Dr

•	MOP Advance Against Sales Order (the advance taken previously) Dr.

•	To Sales Cr

•	To Tax Cr. (if any)

Credit Note - Issue:

The Ledger Account “Credit Note Issued” under current liabilities is linked to it.

In case of Sales Return, if Cash is not returned to the customer, a credit note is issued to the customer which he can adjust against his subsequent purchases.

The Accounting entry will be

•	By Sale Return Accounts Dr. Rs.1500/-

•	To Credit Note Issues Cr. Rs.1500/-

Notes on Credit Note Issue

•	This MOP is not shown in the Sale Return tender except the bill amount > zero.

•	It will appear on the Sale Tender Screen only if the bill amount is negative (due to exchange)

•	You cannot delete a sale return entry if a credit note associated with it is adjusted against any other transaction.

•	Naming Convention of Credit Note Number = CRN/<AccountSerialNumber> Example = CRN/10.0001

Credit Note - Adjust:

This MOP is used to make a sale transaction against a credit note issued.

•	This will be shown only on Sale Screen Tender.

•	You cannot adjust more than the Bill Amount.

•	A list of all unadjusted Credit notes will appear

For example a customer having a CN of Rs.950/- issued to him makes a fresh purchase of Rs. 1200, the C/N of Rs.950/- may be adjusted on taking a payment of Rs.250/- in cash or credit card.

You can create new MOP of type Cash or Credit Card only. Enter the following information.

Field	Description
Type	Select the Type of MOP (Cash or Credit Card). You cannot create a new MoP of any other type
Account	Select the Ledger Account
Is Customer Info Reqd.	Set Yes to display the Customer Info in the Tender Screen
Is Document Number Reqd.	Set Yes to get the respective field in Tender screen, else set No.
Is Bank Name Reqd.	Set Yes to get the Bank Name, else set No.
Is CRM Point Calculation reqd	Set Yes to get the CRM point Calculation, else set No.
Is Direct Tender Allowed	Set Yes to get the Direct Tender amount (cash tendered), else set No.
Is TIP Allowed	Set Yes to get the Tip amount entry, else set No.

After entry of the above info, you get the second screen to enter components of each MoP. For example, for cash, you may enter the denomination of note etc.

SLNo Name	Serial Number of the MoP is displayed
Picture	Select the Image file of the MoP component whose picture is to be displayed in the screen (e.g Image of Currency Note)
Value	Enter the amount of each denomination.

Accounting Entry in case of Multiple Mode of Payment

Important Note: In case of multiple mode of Payment during Sales Entry

•	Debit the MOP1

•	Debit the MOP2 (if any) and so on.

•	Debit the Party – with remaining account

•	Credit – Sale

•	Credit – Tax (if any)

Mode of Payment Button

Main Menu > Master Data Management > Accounts > Mode of Payment

Mode of Payment Display

Main Menu > Master Data Management > Accounts > Mode of Payment > Display