Record the Collector ID and Administration settings for SEPA collection

You record general data and the administration collector ID. For a collection order, as the collector, you must have a collection contract with your own bank(s). When you conclude this contract, you receive a Collector ID. This is a piece of identifying data that is part of the mandate agreement between the collector and the debtor.

Once your organisation has received this 'Collector ID' from your own bank, you use the same ID when you conclude the collection contracts with your other banks. That is why you record this Collector ID per administration and NOT per bank account number. Furthermore, the Collector ID is unique for each administration. That means that you cannot use the same Collector ID in multiple administrations.

You also record the administration settings in Financial settings for automatic collection. If you want to provide a collection reduction to your debtors by default, you must specify this in the administration settings as well.

Note:

The Collector ID can change as the result of a merger or takeover. If you change the Collector ID of the administration, Profit changes Collector ID in all the debit mandates of this administration.

To record general administrative data and the collector ID for collection:

1. Open the administration.
2. Go to: General / Administration / Management / Properties.
3. Go to the tab: General.
4. Check the data. 

   The name of the collector is mandatory for the electronic delivery of a collection order. It is therefore important that the 'Name' of the administration in Profit matches the name under which the collector (your organisation/administration) concludes the collection contract.

5. Go to the tab: Chamber of Commerce.
6. Check the data. of the organisation. The CoC number is mandatory for the electronic delivery of a collection order.

   For Belgium, this tab and the CoC number are not applicable.

7. Go to the tab: SEPA.

   If this tab is not visible, you have to authorise it using the authorisation tab in the Authorisation tool.

8. Enter the collector ID of the administration (the collector) in Collector ID.
9. Click on: OK.

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 the administration settings for automatic collection:

Per administration, 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.

1. Go to: Financial / Management / Administration settings.
2. Go to the tab: Payment/Collection.

   

3. In the 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. Enter a number in Maximum number of repetitions. If the number of reversals for an outstanding item/invoice is greater than the maximum number of repetitions, the Automatically collect check box is deselected for the outstanding invoice, meaning the invoice is included in the next reminder.
   • You want (or are allowed) to collect only once: deselect the check box 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 the ledger account on which Profit must enter the discount.
5. Click on: OK.