Complete a collection order
You can complete the collection order automatically when entering or importing the bank statement. You can however also complete the collection order manually.
If you generate a collection file, Profit enters it on the suspense accountand the collection order gets the status.
As soon as the actual debit notice (via the bank statement) arrives, you create a journal entry in the journal of the relevant bank account number or import the bank statement. Use the same account as contra account, to settle the balance.
When entering or importing the bank statement, you can enter the collected amount on theaccount and directly link the batch number of the collection order to it (provided that the batch number field is included in the entry layout). As a result, the collection order is linked to the line on which it is credited in the bank statement and in Profit the collection order gets the status. However, this link is not mandatory; you can also complete the collection order manually.
Complete a collection order manually
You follow this procedure if you complete the collection order manually.
To complete the collection order manually:
- Go to: / / .
- Select the order with the status .
- Click on the action: .
Complete a collection order by entering it in the bank journal
You follow this procedure if you want to link the batch number of the collection order immediately when entering the bank statement. This will automatically give the collection order thestatus.
To complete a collection order by entering it into the bank journal:
- Go to: / / .
- Check and . These are the financial year and the period to which you post the entry.
- Select the journal of the bank.
- Click on: .
- Enter the closing balance from the bank statement in . Profit displays the of the journal at the bottom of the entry window.
- Copy the date from the statement line as .
- Select the suspense account.
- Enter the amount in .
- Select the collection order in the
This allows you to link the collection order to the line on which it is credited in the bank statement. As a result the collection order batch gets thestatus. column.
- If necessary, enter the other lines of the bank statement.
- Click on: .
SEPA collection error/return codes
Transactions in a SEPA collection file you have sent to your bank or 'Equens' can be rejected or refunded. These are called R transactions. The ‘R’ represents the exception type, for example ‘Reject’ and ‘Refund’. For such transactions, this code and description is found in the bank statement (file) and can be imported by Profit.
The data collections for financial entries and the bank statement entry layout include theand fields of a collection refusal. It is useful to add these fields to the views and entry layout concerned so that this data can be displayed for a R-transaction and can help in deciding what action to take.
The collection type (first, recurrent, one-off, last) and the R-transaction type determine how you treat any R-transaction received.
Reverse a collection
In the case of a reversal of a payment via a bank statement, Profit determines theof the transaction (FRST or RCUR) in the next collection from the debtor in question as follows:
- In the case of a reversal of an RCUR transaction via a bank statement, the next transaction in a collection order is an RCUR transaction for all return codes.
- In the case of a reversal of an FRST transaction via a bank statement, the next transaction in a collection order is an FRST transaction for all return codes, with the exception of the MD06 return code.