Financial management is important for any mandi business. Let’s find out how commission agents can add cash entries related to their customers and suppliers on ChargeERP.
This is the next article from our ‘How-To’ series. The previous post was ‘How To Add ‘Daily Sale’ Entries On ‘ChargeERP.
Financial management helps commission agents in keeping an eye on the money flow and the performance of their mandi businesses. On the ‘Financials’ page of ChargeERP, commission agents can keep a log of all the financial transactions of their customers and suppliers, done via cash or bank.
Check out how commission agents can add ‘Cash’ entries on the ‘Financials’ page of ChargeERP.
- First, log into your ChargeERP account. Once you log in, you will directly land up to the ‘Dashboard’ page. From the top left corner of the ‘Financials’ page, click on the company name dropdown (A) and choose the company you want to add the ‘Cash’ entry to.
- Now, using the sidebar option on the left side, just click on the ‘Financials’ tab (B).
- The ‘Financials’ page has three tabs, namely ‘Cash’, ‘Bank’ and ‘All’. To add a new ‘Cash’ entry, click on the ‘Cash’ tab (C).
- Then, click on the ‘New Entry’ button (D) on the right side of the page. An ‘Add New Entry’ form will open.
On the form, fill in your cash payment details (E).
- Select the ‘Date’ of the Cash transaction.
- From the ‘Payment Type’ dropdown, select ‘Paid’ or ‘Received’.
- Next, type in the ‘Receipt No.’.
- From the ‘Account Type’ dropdown, select ‘Customer’ or ‘Supplier’ account.
- The ‘Account Name’ dropdown (F) will list the accounts based on the chosen ‘Account Type’. If your desired account name is not on the list, click ‘Add New’ button (G) and enter the new account details. This new account will also reflect on the ‘Accounts’ page.
- Upon choosing the ‘Account Name’, you will automatically get the ‘Outstanding Balance’ (H) for that account. This smart feature helps ensure that you are paying the right amount.
- Now, fill in the ‘Amount’ of Cash transaction.
- Enter optional details like ‘Rebate’ or ‘Discount’ value.
- The ‘Total Amount’ will automatically adjust based on the ‘Rebate or Discount’.
- You can add ‘Remarks’ if required.
- Click on the ‘Save’ button (I) to complete your ‘Cash’ entry. You will be able to see this entry in a table under the ‘Cash’ tab and ‘All’ tab on the ‘Financials’ page.
- To search for transactions related to a particular account, type the account name in the ‘Search Here’ box (J).
- The footer (K) for the ‘Cash’ tab shows ‘Total Transactions’, ‘Amount Received’, ‘Amount Paid’ and ‘Net Amount’.
How to edit and delete the ‘Cash’ entry?
Every row in the ‘Cash’ table has a ‘three-dot menu’ (L) on the right side. As you click on it, ‘Edit’, ‘Delete’ and ‘Print Receipt’ options will come. You can choose the ‘Edit’ or ‘Delete’ options to edit or delete your cash entries.
How to generate Payment Receipts?
A payment receipt is a document that acts as proof of a financial transaction. Commission agents can keep this document for their records or share it with their customer or supplier, whenever required. To generate a cash payment receipt, use the same ‘three-dot menu’ and click on the ‘Print Receipt’ option (M). You will see a confirmation box (N) to receive this report over WhatsApp.
As soon as you make your choice between ‘Yes’ or ‘No’, you will be redirected to the ‘Payment Receipt’ (O) of the selected customer/supplier. You can then choose to ‘Print’ or ‘Download’ it.
Back on the ‘Cash’ tab, you will see a download icon (P) on the right side of the table. As you click on this icon, ‘Print Bulk Receipts’ (Q) and ‘Export as PDF’ (R) options will come.
If you want to get a combined report (S) for all the cash payments, click on the ‘Print Bulk Receipts’ option.
‘Export as PDF’ option will take you to the ‘Cash Payment Register’ (T) that summarizes the total number of cash transactions, amount received and paid, and the net amount.
This is how you can add ‘Cash’ entries on the ‘Financials’ page of ChargeERP. Read our next article in the ‘How-To’ series – ‘How To add ‘Bank’ entries On ‘Financials’ Page Of ChargeERP’. ChargeERP is the easiest, fastest, and most secure software powered by Bijak, India’s most trusted agri-trading app. This platform is exclusively designed for commission agents for recording financial information related to sellers and buyers and for tracking down their daily sales and purchases in sabzi mandis. ChargeERP even provides DEO services i.e. on-premise data entry support to their subscribers.
To know more, please visit www.chargeerp.com or dial +91 9311341199 and book your free demo today. We also suggest that you follow us on Facebook for regular updates. You can also view the latest instructional videos on the ChargeERP YouTube channel.