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Business Solution


1. Vouching

2. Journal Entry

3. Bank Reconciliation

4. Party Reconciliation (Debtors & Creditors)

5. Sales, purchase, payment, receipt, debit note, credit note

6. Inventory

7. Costing

8. Cost centres (project wise)

9. Preparation and finalisation of P/L & B/s…etc various things

                              Sales,Purchase,Payment,Receipt,Debit note,Credit note

Sales :-

Sale is a simple statement that the consignor prepares to convey to the consignor the financial transactions and activities related to his goods. It is not part of either party’s formal accounting records. Also, there is no specific or standard format available for preparing for an account sale.

Purchase :-

The purchases account is a general ledger account in which merchants track their inventory. This account is used to calculate inventory for sale purchases.

Receipt & Payment: –

Receipt & payment accounts have several features. In the receipt or payment account, all receipts are recorded on (the debit side) and payments are recorded on (the credit side). Receipt Payment Account is a summary of the cash book. It starts with bank balance and initial cash, sometimes combined.

Debit Note: –

A debit note is a commercial document in used for business-to-business transactions, that either vendor or supplier may use regarding the amount due for a sale of supply. It is essentially an additional note related to an invoice, usually indicating the need to adjust the invoiced Value.

Credit Note: –

A credit note is a commercial document to issued by sellers to buyers when they return goods. This note acknowledges and informs the suppliers to update the statement of account accordingly.

Key Points Of Sales, purchase, payment, receipt, debit note, credit note: –

The sale always builds the wealth of the company.

Receipt and payment account does not include any transaction except cash and bank.

Purchase is used for planning consumer products.

A debit Note is a separate form to inform a buyer of current debit obligations.

Credit Note is used for communication of any change in invoice.