Collection entry is made when you have received a certain amount from your customer or party either against a particular invoice or in advance (on account).

In order to make a collection entry, you need to follow the given steps:

• On Dashboard, search for "Payment Entry List" and select it (as shown in Figure)

Following page would pop-up with list of all payment entries recorded in the books

• Click on "New" to make a new Collection Entry.

Following screen would open up:

You need to select the following details:

• Payment type: Select as "Receive"
• Posting Date: Would be current date by default.
  You can change if the transaction has occurred on some other date
• Branch: Branch which has received the payment
• Mode of Payment: Mode via which payment received (Card/Cheque/NEFT/RTGS)
• Party Type: Would be a customer by default. If you have received from some other Type of Party (Customer/Supplier/Employee), you can select it
• Party Name: Name of the Party from whom the amount is received
• Bank Account: Account in which you want to make the respective collection entry.
  

• In the next section, i.e. "Accounts" you will be able to see the balance amount of that party and the Account's Balance.

How to make an "On Account" entry for payment received in advance

To make a collection entry for "On Account" or payment received in advance transactions you need enter the "Amount" you have received but  do not add any reference invoice against it

How to allocate collection entry to an outstanding Invoice manually

• In case you want to add reference or relate any invoice to it, you can add invoice details here: 

You can search the respective entries using the following criteria if you want to add them manually Posting date, Supplier, Bill number, Grand Total, Outstanding Amount Project, Master Shipment Number, House Shipment Number, Container Number

How to allocate collection entry to an outstanding Invoice in a semi-automated way

You can also link the entry to any outstanding invoice by clicking "Get outstanding invoice" (as shown in figure)

All invoices whose collection is pending gets filled up showing the outstanding and      allocated amount against each invoice.

• Allocated Amount: Amount that you have issued with respect to the pending          transactions

• Outstanding Amount: Pending Amount that is yet to be received.

  "Amount is auto-allocated since the check-box is ticked for "Allocate Payment             Amount"

You can apply the various filters (as shown in figure) under the sections as Voucher Details,Shipment Details, Estimated Time of Departure, Estimated Time of Arrival to get your outstanding invoices

In case you want to allocate the amount manually, you can untick the box.

• You can add the cheque/reference number in this section.

• Click on "Save" and "Submit" to make the entry in respective accounting transaction