Understanding Sales Receipts
Sales Receipts in Zoho ERP allow you to record sales where payment is received immediately. A sales receipt combines the sale and the payment into a single transaction, eliminating the need to create an invoice and record the payment separately. This helps you quickly capture completed sales and keep your accounts up to date.
Sales receipts are commonly used in scenarios where payment is collected at the time of sale, such as retail counters, e-commerce checkouts, and point-of-sale (POS) systems. Since the payment is received instantly, the amount recorded in a sales receipt is recognized as revenue at the time of creation.
Let’s understand this with a scenario.
Scenario:
Zylker, a cloud-based storage company, sells prepaid storage plans through its website and collects payments immediately. To record these transactions, Zylker creates sales receipts in Zoho ERP instead of raising invoices. This enables the business to record sales and payments in a single step, maintain accurate cash records, and simplify daily sales tracking.
You can create sales receipts for products or services and record details such as the customer, payment method, amount received, and date of payment. Each sales receipt appears in a list view with essential information such as the receipt number, customer name, payment mode, and total amount, making it easy to track and manage instant payments.
Insight:
In Zoho ERP, the Customer Name field is not mandatory for sales receipts because they are intended for instant sales where payment is collected immediately. In many business scenarios—such as walk-in retail sales, counter sales, or quick POS transactions—customers may not provide their details at the time of purchase.
To support these use cases, Zoho ERP allows you to create a sales receipt without selecting a customer, enabling you to record the sale and payment quickly without slowing down the transaction process.
Even when a customer name is not added, the sales receipt is recorded correctly and the amount is reflected in your accounts. These receipts typically represent cash or anonymous sales, which are common in high-volume or in-person selling environments.