Collections

The collection module is an important tool to efficiently manage their customer payments, advances, and refunds.

• The collection list page will show all transactions done with the customer i.e. collections, advances or refunds in drafted, approved and cancelled status.
• You can filter the collection data by entering the Date Filter, Module,Customer or Created By Name.
• The Match Credit feature allows to adjust the invoice amount of a customer from the advance paid.

Type:1 Collection

Collection section is used to record the amount received from the customer with respect to their invoices.

Steps To Create Collection

Step 1: Go to Finance→ Vouchers→ Collections→ New Collection Select the Type i.e. Collection

Step 2: Enter Customer Information

Choose the Customer, Account Number, Voucher Date,Voucher Text, Amount received etc.

The currency exchange rate column displays the exchange rate for the currency selected when the customer was created.

When a customer is selected from the drop-down, all the invoices related to that particular customer will be displayed below.

Step 3: Register Collection Received

Enable the checkbox of the respective Invoice, enter the amount received and make sure that the Remaining Amount is 0.

Green Tile and Red Tile displays the approved and unapproved payments respectively.You can view the details of the payment made, by clicking the amount displayed on Green and Red Tile.

Step 4: Apply Additional Charges and Saving option

Click on “Add transaction” if additional charges like Bank charges, Input VAT etc needs to be applied

If you want to modify the entered data, click on Clear button.Final step is to click on Save.

Actions Performed In Right Click

• Approve/Disapprove
• Edit/Delete (Only Disapproved vouchers can be Edited/Deleted)
• Print
• Upload

Type 2: Advance

The advance section is used to create and manage the advance received from the customer.

Steps To Create Advance

Step 1

Go to Finance → Vouchers → Collections → New Collection Select the Type i.e. Advance

Step 2: Mention Customer and Advance Amount

Select the Customer, Account Number, Voucher Date,Voucher Text etc.

The currency exchange rate column displays the exchange rate for the currency selected when the customer was created.

Enter the Advance amount received from the customer.

**Step 3: **Saving option

If you want to modify the entered data, click on Clear button. Final step is to click on Save.

Actions Performed

• Approve/Disapprove
• Edit/Delete(Only Disapproved vouchers can be Edited/Deleted)
• Print
• Upload

Type 3: Refund

The Refund section is used to create and manage the Refund paid to the customer with respect to the Advance received from them.

Steps To Create Refund

Step 1

Go to Finance→ Vouchers→ Collection →New Collection Select the Type i.e. Refund

Step 2: Customer Selection

Choose the Customer, Account Number, Voucher Date,Voucher Text etc

The currency exchange rate column displays the exchange rate for the currency selected when the customer was created.

When a Customer is selected from the drop-down, all the advances related to that particular Customer will be displayed below.

Step 3: Register Refund Amount

Enable the checkbox of the respective advance, enter the refund amount and make sure that the Remaining Amount is 0.

Green Tile and Red Tile displays the approved and unapproved payments from the respective advance.You can view the details of the payment, by clicking the amount displayed on Green and Red Tile.

Step 4: Saving option

If you want to modify the entered data, click on Clear button. Final step is to click on Save.

Actions Performed

• Approve/Disapprove
• Edit/Delete(Only Disapproved vouchers can be Edited/Deleted)
• Print
• Upload

**NOTE: **The Export As feature allows users to copy the collection list and to export the list in CSV and Excel

Coin icon is used to indicate the refund against the corresponding collection advance voucher in the collection list page.

Match Credit

The Match Credit feature allows to adjust the invoice amount of a customer from the advance paid.

Steps To Create Match Credit

Step 1

Go to Finance→ Vouchers→ Collections →Match Credits

Step 2: Customer Selection

Select the customer and the advance paid.

The balance advance amount will be displayed on the Balance Amount column.

Also,the refund paid from the respective advance will be displayed on the refund amount column.

Step 3: Register Payment Adjusted From Advance

Enable the checkbox of the respective Invoice and enter the amount to be adjusted from the advance paid.

Green Tile and Red Tile displays the approved and unapproved payments respectively.You can view the details of the payment made, by clicking the amount displayed on Green and Red Tile.

Step 4: Saving option

If you want to modify the entered data, click on Clear button. Final step is to click on Save.

NOTE: A dollar icon is used to indicate the matched credit against the corresponding collection advance voucher in the collection list page.

Updated on: 24/06/2024