Payments” in the Collabox, refers to receipts from services or products sold. Thus, for each invoice created in the system, a remittance entry must be created.
In order to correctly record these operations, an internal control of the receipts is necessary. It is therefore important that you assign a number to your invoices, which Collabox does automatically for you when you create the invoice.
Also, you should plan to create a list of payment methods that are normally accepted by your company. Like for example:
- credit and debit card payments,
- bank transfers,
- direct debits,
- bank deposits
- Paypal, etc.
By exercising key Collabox principles, such as experience accumulation and single entry, Collabox has succeeded in simplifying the visualization and access to interdependent data. From the same environment (the same screen), Collabox offers you the possibility to view the invoice, payments (installments) and disbursements related to a product or service. A simple management tool that will enrich your business processes.
Create a payment
There are two ways to access the payment creation functionality.
a) From the menu on the left of your screen under the link Payments
b) From an invoice
a) From the menu on the left
- Click on the Accounting icon
- Go to the grey menu on the left and click on payments
- Click on Add a payment
- Enter the data
Enter the data
b) From an invoice
Fill in the necessary information to find your invoice and once the list of results is displayed, you can click on the #invoice or the date. This action will give you access to the different tabs available. In particular and the one that interests us: payments.
Once on the tab, you will have the option to add a payment and also view if a payment has already been entered. According to your choice, you will have to indicate the terms of your payment as already explained in the images above or consult the payment already entered, if you need.
Internal control and liquidity
If compliance with your internal business policies, prevention and detection of fraud and errors, and ensuring the accuracy of your accounting records are important to you, the ease of use of Collabox will fulfill your need to exercise your internal control and decision-making processes with peace of mind.
Do not hesitate to consult your Income Statement available in your Collabox Accounting module to prepare your year-end forexample.