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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How it works

From bank credit to allocated receipt.

Step 01

Bank receipts pulled daily

Connected Banking with ICICI, HDFC, Axis, Yes, Kotak and SBI brings receipts in every morning. Customer-narration parsed for the customer name and reference.

Step 02

Auto-match to open invoices

Match runs on amount, UTR and customer. Single-match auto-allocates. Multi-match surfaces for AR review with the candidate invoices side-by-side.

Step 03

Section 194Q at receipt

When the customer has deducted Section 194Q TDS, the TDS amount is captured at the receipt and reconciled against the customer ledger. Form 26AS reconciliation runs at FY-end.

Step 04

Advances and partials

Partial payments allocate to the oldest open invoice by default; AR can override. Advances sit on the customer record and auto-allocate when matching invoices are raised.

Step 05

FX gain or loss inline

For USD or EUR export receipts, the gain or loss is computed at receipt against the invoice rate and posted inline. RBI reference rate or your treasury rate, whichever your policy uses.

What the system does

Capability, input, output.

Capability	Input	Output
Connected Banking pull	Bank API (NEFT, RTGS, IMPS, UPI)	Daily receipt feed
Customer match	Bank narration + receipt amount	Customer + UTR + match confidence
Invoice auto-allocation	Receipt + open invoices	Allocated receipt with match status
Section 194Q capture	Net receipt + invoice value	TDS amount captured + Form 26AS reconciled
FX gain or loss	Foreign-currency receipt + invoice rate	Realised gain or loss posted inline
Advance management	Receipt without matching invoice	Advance on customer record + auto-apply

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).

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.