Ask a banquet owner how much money is still due on bookings this season and watch what happens. Out comes a register, then a phone full of WhatsApp chats, then a call to the manager. Twenty minutes later there is a number, and nobody is quite sure it is right.
Event money arrives in pieces. A token to block the date, a larger advance after the menu tasting, perhaps a security deposit, and a final balance on or just before the day. Each piece is easy to record on its own. The trouble is that nobody sees them together. This post covers how to track advances, deposits and balances properly, what a banquet payment receipt should contain, and how Venura keeps dues from slipping.
Why event payments are hard to track
- Several payments per booking. One wedding can involve four or five separate receipts over three months.
- Several people collecting. The owner takes cash at home, the manager takes a UPI transfer at the hall, an accountant receives a cheque.
- Different kinds of money. An advance is part of the price. A refundable security deposit is not income at all until you keep it. Mixing them hides what you have really earned.
- Balances that live in someone's head. "They'll pay the rest on the day" is not a record.
Record every payment against its booking
The fix is simple to state: every rupee should be recorded against the booking it belongs to, at the moment it is received. In Venura, each booking carries its payment details: the total amount, the advance paid, the remaining balance, the payment method and remarks. As further payments come in, you record them and the balance updates.
Two habits make this reliable:
- Record the method. Cash, UPI, bank transfer or cheque. When there is a dispute months later, "₹50,000 by UPI on 3 Nov" is settled in seconds; "they paid something in November" is not.
- Use remarks for context. "Advance after tasting", "decor extra agreed on call" or "cheque dated 20th". Short notes save long arguments.
Venura's payment management then shows the whole picture: received payments, pending balances and full payment history, so the question "what is due this season?" has an answer on one screen.
Keep advances and deposits apart
Treat a refundable security deposit differently from an advance. An advance reduces what the customer owes for the event. A deposit is held against damage or overtime and is returned, fully or partly, after the function. Recording them separately (use the remarks, and a clear line on the receipt) keeps your revenue honest and makes the refund conversation straightforward.
What a banquet payment receipt should include
A receipt protects both sides. Printed or shared as a PDF, it should show:
- Receipt number and date, numbered in sequence so gaps are obvious
- Your business name, address, phone and GSTIN if you are registered
- Customer name and mobile number
- Booking reference, event type, event date and hall
- Amount received, in figures and in words
- Payment method and reference (UPI transaction ID, cheque number, bank reference)
- What the payment is for: token, advance, security deposit or final balance
- Total booking value, total received so far and balance still due
- The next due date, if there is one
- Signature or stamp, and your key terms
Venura lets you customise your branding and the terms and conditions that appear on receipts, so every receipt from your team looks the same. We also have ready formats you can download: an advance payment receipt format, a general payment receipt format and a money receipt format for cash.
GST and legal points worth knowing
Tax on event payments catches many venues out. A few points, based on current rules (confirm your own situation with your CA):
- GST on advances for services is due when the advance is received, not only when the final invoice is raised. The document for this is a receipt voucher under Section 31(3)(d) of the CGST Act.
- Rates depend on what you sell. Catering and food packages are usually 5% GST (2.5% CGST + 2.5% SGST) without input tax credit, as is a hall-plus-food package at an ordinary venue. Standalone hall rent and extras such as decoration or DJ are usually 18%.
- Cash has a legal ceiling. Section 269ST of the Income-tax Act bars receiving ₹2 lakh or more in cash for a single event, transaction or day. Take large amounts by bank transfer, UPI or cheque.
When you generate invoices in Venura, CGST and SGST are shown by line, and invoices can be edited, printed or downloaded, then exported to Tally for your accountant.
Stay ahead of dues and overdue balances
The best follow-up is one that happens before a balance is late. Venura sends notifications for due dates and overdue amounts, and event-prep alerts before a function, so your team knows which balances to collect and which events need attention. A sensible routine:
- Agree the payment schedule when the booking is confirmed, and write the due dates on the receipt.
- Check pending balances every Monday for the next two weeks of events.
- Call a few days before a due date, not after it: "Just a reminder that the second instalment of ₹1,20,000 is due on Friday."
- Settle the final balance before the function starts, not after the last guest leaves. Collecting after the event is always harder.
- When a balance becomes overdue, the owner or manager calls personally. A named person asking is harder to ignore than a message.
A worked example
Here is an illustrative booking for a 250-guest reception at ₹1,200 per plate plus hall charges, a total of ₹3,50,000 including tax:
- 10 September: token of ₹25,000 by UPI to block the date. Balance ₹3,25,000.
- 1 October: advance of ₹1,50,000 by bank transfer after the menu tasting. Balance ₹1,75,000.
- 20 November: security deposit of ₹20,000 by cheque, recorded separately as refundable.
- 27 November, three days before the event: final balance of ₹1,75,000 by bank transfer. Balance ₹0.
- After the event: deposit refunded in full, noted in remarks.
Each step has a receipt, each payment is recorded against the booking, and at any moment anyone on the team can see exactly where it stands.
Venura's Pro plan is ₹999 per hall per month, or ₹750 per month billed yearly.
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Frequently Asked Questions
What is the difference between an advance and a security deposit?
An advance is part of the price of the event and reduces the balance the customer owes. A security deposit is held against damage, overtime or other costs and is returned after the event, fully or partly. Record them separately so your revenue figures are accurate and the refund is easy to calculate.
What should a banquet hall payment receipt contain?
A sequential receipt number and date, your business details and GSTIN if registered, the customer's name, the booking and event details, the amount in figures and words, the payment method and reference, what the payment is for, the total, amount received so far and balance, the next due date, and a signature or stamp.
Do I have to charge GST on a booking advance?
For services, GST generally becomes due when the advance is received, and a receipt voucher should be issued under Section 31(3)(d) of the CGST Act. The rate depends on whether the booking is a food package, hall-only rental or extras. Rules and their application vary by case, so confirm with your CA.
How does Venura remind us about pending payments?
Venura records the total, advance and balance on each booking, shows pending and received payments in payment management, and sends due-date and overdue notifications so your team knows which balances to collect. Pair that with a weekly review and a call before each due date.
Is there a limit on accepting cash for an event?
Yes. Section 269ST of the Income-tax Act bars receiving ₹2 lakh or more in cash from one person for a single event, in a single transaction or on a single day. Larger amounts should be taken by bank transfer, UPI or cheque. Check with your CA if you are unsure how it applies.
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