Recovery Receipt Voucher
2025-01-16
Overview
A Recovery Receipt Voucher is used when the organization receives a payment against outstanding receivables such as overdue invoices, installments, deals, or customer balances.
This voucher updates the Customer Ledger and reduces the Accounts Receivable while increasing Cash/Bank.
It ensures accurate tracking of all financial recoveries and maintains a transparent audit trail.
Scenario
A customer who previously purchased a unit or had an outstanding invoice makes a partial or full payment.
The payment is recorded using Receipt Voucher → Recovery to update their ledger and reduce the receivable amount.
Accounts Impact
| Account | Debit | Credit |
|---|---|---|
| Cash / Bank | ✔ | |
| Accounts Receivable / Customer Ledger | ✔ |
Steps
1. Open Recovery Receipt Voucher
Navigate to Vouchers → Receipt Voucher → Recovery.
- Select customer with outstanding balance
- Choose payment method (cash, bank, cheque, online)
- View pending invoices / installments / deals
The system automatically displays all unpaid and partially paid items for quick adjustment.
2. Enter Received Amount
Record the payment received from the customer against their outstanding balance.
- Enter amount received
- Allocate amount to specific invoice, installment, or deal
- Ensure that recovered amount does not exceed due balance
The voucher ensures accurate financial posting and prevents over-recovery.
Practical Examples
1. Example 1 – Recovery Against Installment
Customer pays PKR 30,000 as an overdue installment payment.
- Debit → Cash/Bank: 30,000
- Credit → Accounts Receivable: 30,000
This updates the customer's outstanding installment balance.
2. Example 2 – Partial Payment Against Invoice
Customer pays PKR 10,000 against an invoice of PKR 25,000.
- Debit → Bank: 10,000
- Credit → Accounts Receivable: 10,000
Remaining PKR 15,000 stays as outstanding until next recovery.