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Accounts Receivable | Receipt Allocation

Bank receipts, auto-allocated. Advances and partials handled inline.

NEFT, RTGS, IMPS and UPI receipts pulled from Connected Banking daily. Auto-matched to open invoices on amount, UTR and customer. Advances and partial payments handled. Section 194Q TDS captured at receipt. FX gain or loss posted on export collections.

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Receipt Allocation

What the system does

Capability, input, output.

  • Connected Banking pull

    Input
    Bank API (NEFT, RTGS, IMPS, UPI)
    Output
    Daily receipt feed

  • Customer match

    Input
    Bank narration + receipt amount
    Output
    Customer + UTR + match confidence

  • Invoice auto-allocation

    Input
    Receipt + open invoices
    Output
    Allocated receipt with match status

  • Section 194Q capture

    Input
    Net receipt + invoice value
    Output
    TDS amount captured + Form 26AS reconciled

  • FX gain or loss

    Input
    Foreign-currency receipt + invoice rate
    Output
    Realised gain or loss posted inline

  • Advance management

    Input
    Receipt without matching invoice
    Output
    Advance on customer record + auto-apply

Compliance + integrations

Receipts allocated to the books, the GST and the tax-audit trail.

Connected Banking pulls receipts directly. Section 194Q is reconciled at receipt against Form 26AS at FY-end. Section 206C(1H) (TCS) is auto-resolved based on buyer turnover.

Regulations we work within

  • Section 194Q, Income Tax Act

    Buyer-deducted TDS captured at receipt; Form 26AS reconciled.

  • Section 206C(1H), Income Tax Act

    TCS at receipt where 194Q is not applicable.

  • Ind-AS 21 / AS-11

    FX realisation on foreign-currency receipts.

  • RBI FEMA

    Export receipt reporting (FIRC, BRC).

Connects to

  • ICICI Bank Connected Banking
  • HDFC Bank Connected Banking
  • Axis Bank Connected Banking
  • Yes Bank Connected Banking
  • Kotak Mahindra Connected Banking
  • SBI Corporate Banking

Receipt Allocation FAQ

What buyers ask.

Customer pays a partial amount. How is that handled?

Partial payments allocate to the oldest open invoice by default. AR can override at the receipt screen to allocate to a specific invoice or a set of invoices. The customer ledger reflects the net position. The aging report updates immediately.

Customer paid in advance. How does that work?

Advance receipts sit on the customer record (advance liability). When a matching invoice is raised, the advance auto-applies. Where Section 13(2) (time of supply for advance receipts) applies (for services), the GST liability is captured at the advance.

How is Section 194Q reconciled to Form 26AS?

TDS captured at receipt creates a TDS-receivable balance per customer. At FY-end, Form 26AS (downloaded from TRACES) is reconciled against the captured balance. Mismatches surface for the AR team to follow up with the customer.

Customer paid in USD on an export invoice. FX rate?

The realisation rate is the rate at the date of receipt. The gain or loss vs the invoice rate is posted inline to the configured GL. RBI reference rate is used by default; pin a specific rate per receipt where treasury policy requires (e.g., a forward-cover rate).

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Related features

Connect one bank. Watch yesterday's receipts auto-allocate.

Connect Connected Banking for one bank, free. Tomorrow's morning shows the receipts pulled, the auto-match status, the Section 194Q capture, and the customer ledger updated.

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