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In this session we are looking at the Processing of a Collection Receipt.


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In this example the money has been Deposited directly into our Bank Account.

So we use the Bank Account as the Receipt Account. This can of course also be a Cash Receipt Account for Processing a Cheque or Cash.


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We select the appropriate Mandate.


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The System already knows the expected Amount, but if it is different, we can change it.


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We can optionally produce a Receipt when we post. In this case I have not checked the “Print Receipt” Option.

I am simply posting the Transaction.


Slide 13

Now the System will reveal how this Receipt is being Processed, if we drill into the Transaction.

In the 1st instance the Bank Account here is Debited with the Collection Amount and the Tenant or Customer is being Credited with the Payment. Then internally the Mandate Provision, which was Credited at the time Collection was raised, is now Debited with the proceeds that are being Credited to the Customer Payable Account and the Portion of Commission that is being Credited to the Fee Earner Account.