Invoice Collection Update in StaffingGo

Each invoice generated in StaffingGo will include detailed tracking of payments associated with it. Upon receiving payments, StaffingGo will record them, incorporating the specified TDS deductions and any applicable discount adjustments.

To update invoice collections, please follow these steps:

1. Navigate to the Financials section.
   
2. In the Financials section, select the Outstanding bin.
   
3. Locate and click on the specific invoice number that requires a collection update
   
4. Once the invoice opens, select Recorded Collection located at the top right corner of the screen
   
5. The Recorded Collection window will open, displaying the following options in the collection details:
   • New Receipt: Use this option to update the invoice with payments received from the client after submission.
   • Advance Collection: Use this option to associate the invoice with any previously received payments from the client.
   • Independent Credit Note: Use this option to link the invoice to any general or miscellaneous credit note issued to the client.
     
6. Select the New Receipt option and update the details as follows:
   • Receipt Date: Date of the collection update
     
   • Payment Type: Mode or type of payment received
   • Bank Name: Payment Received Bank
     
   • Reference No.: Payment reference number
   • Reference Date: Date the payment was received
     
   • Reference Amount: Amount received as payment.
     
   • TDS: If applicable, choose this option and click the + button to enter the following details:
     
     • TDS For: Specify whether TDS was deducted on the bill amount or GST amount.
       
     • TDS Certificate No. and Date: Provide the certificate number and date if TDS is based on a lower deduction certificate.
       
     • TDS Percentage and Amount: Enter the applicable TDS percentage and the deducted amount.
       
     • After updating, click the Save button.
       
   • Miscellaneous Adjustment:
     If there are any discounts or adjustments against the invoice, choose the Misc. Adjustment option.
     
   • Click the + button and update the following details:
     
     • Adjustment Type: Select the type of adjustment (dropdown options will be provided).
       
     • Amount and Remarks: Enter the adjusted or discounted amount, and any remarks if necessary.
       
     • After updating, click the Save button.
       
7. Once all the details are updated, click the Save button again to finalize the collection record for the invoice.
   

Example Cases for Better Understanding:

Case 1:

Invoice Amount: ₹2360

Payment Received: ₹2340

TDS Deducted: ₹20

Case 2:

Invoice Amount: ₹9440

Payment Received: ₹4000

TDS Deducted: ₹80

Discount/Miscellaneous Deduction: ₹300

This process ensures accurate updates of invoice collection records.