A journal voucher is used to record various types of entries. Some of them are booking expenses, tax adjustments, provision entries, etc. Usually…

An invoice voucher type is used to create a document that is issued by a seller to the buyer. The accounting invoice helps in the creation of a service invoice.

A payment voucher is used to record all types of payments made. Some of them are making payments for expenses, to vendors, etc.,

A receipt voucher is used to record all types of receipts. Some of them are payments received from customers against sales made, or on sale of some furniture, etc.

A contra voucher is used to record those transactions which involve both cash and bank or multiple banks. Some examples are – Cash deposited to a bank…

A credit note is given by a seller to their buyer to be used in any situation where a revised and reissued invoice would be needed.

A debit note is sent from a buyer to a seller in order to request a return for defective or damaged goods or other specified reasons.

A transaction that involves multiple branches is called an “inter-branch transaction.” In RealBooks, the inter-branch transactions…

Multi-branch transaction (MBT) facilitates the organization to post banking transactions to multiple branches together. MBT works on the assumption…

Bill adjustment can be used to adjust receipts and payments that have not been tagged against any outstanding bills and are therefore lying unadjusted.

Opening balances are the balances in the company’s accounts at the beginning of a specific period of time.

Stock transfer refers to the process of moving goods within a single company from one Godown to another.

The stock journal is used for necessary stock adjustments and manufacturing process entries made by the user.

Purchase means getting the ownership of any goods or services, by paying the predetermined price of them. it may be in cash or credit.

A sale entry records the revenue generated by the sale of goods or services, the cost of goods sold, and sales tax payable, etc.

In case, any customer or client returns defective, damaged, or undesirable products to the seller, the same is recorded in the sales return voucher.

In case, any buyer returns a purchased product for any reason to the seller, the same is recorded in the purchase return voucher.

Point of sale is a setup that fast-tracks the invoicing process, allowing faster checkout from the billing sections. This setup is very popular in the retail sector.

A sales order is a document that confirms the sale of the goods or services involved in a particular transaction. It is created by the seller and provided to the consumer.

A purchase requisition is a formal way of issuing a purchasing notice. It is merely the beginning of the process of purchase by asking for internal permission.

A purchase order is a written confirmation of a specific order for products or services that are sent from a buyer to a vendor.

A sales cycle or an Order to Receive cycle encompasses all the activities needed to close a B2B sale.  It encapsulates the way your business manages…

A purchase cycle or an order-to-pay cycle encompasses all the activities needed to complete a procurement cycle timely and effective…