Quick Payment

Initiate payments to suppliers, advance payment and contra entries.

Raaj

Last Update 2 jaar geleden

In quick payment, you can initiate payments to suppliers, advance payment and contra entries. You can also make multiple payments under different accounts, expenses, fixed assets, supplier payments, etc. with a single quick payment entry.


Essential Requirement

To create and use the quick payment, it is essential and advisable to create the following

  • Cash/Bank account
  • Supplier
  • Accounts

Create Quick Payment

  1. In the “Accounting” module, Select “Quick Payment”.
  2. Click on “+ Add New” to create a quick payment.
  3. Unique # payment number will be generated automatically if set to auto in configuration or fill manually if set to manual.
  4. In the “Paid From”, select the cash/bank from the drop-down list from which the payment has been initiated. If the cash/bank account is not previously created, you cannot create a new cash/bank account from the cash transfer entry. However, you can create a new cash/bank account in “Bank Accounts” under the “Accounting” module.
  5. Select the “Date” from the pre-designed calendar by clicking on the calendar icon.
  6. In reference, manually provide the information such as invoice details, cheque number, etc.
  7. Click on “Select Account”, choose from the list the supplier or account head the payment has been made. For the Contra Entry, select the Cash in hands or Bank Accounts from the drop-down list. You can create a new account from “Add New” if not previously created. You can not however create a new cash/bank account or supplier from the quick payment.
  8. Enter the amount. If multiple payments are made from the selected source or cash/bank, you can select multiple accounts, supplier or cash/bank account in the same entry. You can add an individual description for the accounts selected by clicking the arrow down icon.
  9. In the “Note”, provide the relevant information for the transaction/s.
  10. Select the reporting tag and custom fields if applicable.
  11. Click on the “Save” icon. Click on the desired action from the pop-up box or click elsewhere to save the payment as a draft. If saved as a draft, you can approve the payment from the draft tab. OR
  12. Click on the “Reset” icon to clear all the fields and start again.


Note: If Supplier payment entry is made using quick payment, then such payment for the selected supplier will be displayed under “unallocated” payments. However, you can allocate these quick payments for the supplier later from “Allocate Supplier Payments” under “Purchase Module.


Also, you can not allocate any TDS deductions for the suppliers if the payment entry is made using quick payment. TDS allocation for the selected quick payment can later be made from “Allocate Supplier Payments” under “Purchase Module.

Options for Quick Payment

When a selected quick payment is opened, options can be used to edit, make duplicates, void, print the selected receipt.


Quick Action Button: For the draft quick payment entry, the quick action to “Approve” will be suggested.


Edit Quick Payment – in this option, you can edit the previously created quick payment.


Make Duplicate – if you select this option, a replica of the currently displayed quick payment will be created as a new one. You can however still edit the details/information and save it as a quick payment.


Void this Cash Transfer– This option nullifies/invalidates the currently selected quick payment. Once a transaction is voided such transaction cannot be reverted later.


Print /PDF: For any document opened, may it be draft or approved, you can preview, print or save as pdf. Tigg offers a pre-designed template for the user, however, you can design/change the templates from “Configuration” in “Printing Templates”

Field description

FieldDescription
#PaymentQuick Payment Number
Paid FromCash/Bank the payment is made from
DateDate of payment
Ref#Reference
AccountAccount under which the payment is made
AmountPayment amount
NoteNote/relevant information

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