Configure settings for automatic collection

You specify the settings for automatic collection in the administration settings. If you want to provide a collection reduction to your debtors by default, you must specify this in the administration settings as well. By offering a reduction, you encourage your customers to permit automatic collection. The collection discount is an amount or a percentage that applies to all collection orders. The collection reduction is calculated on the total invoice amount including VAT. In other words, Profit also calculates the reduction on the VAT, not on the net price of the invoice.

To configure settings for automatic collection:

1. Go to: Financial / Management / Administration settings.
2. Go to the tab: Payment/Collection.
3. In case of collection orders reversed by the debtor or the bank, you have two options:
   • To once again collect the outstanding items: select the Repeat collection after reversal check box.
   • You want (or are allowed) to collect only once: remove the check mark and your outstanding item is a fact.
4. If you want to apply a Collection reduction, select this check box and enter an amount or a percentage. In addition, link a ledger account in which Profit must enter the discount.
5. Click on: OK.