Collecting a Receivable Cheque Directly
Direct collection means the cheque has cleared and its amount has been added to your account without going through a deposit, so the amount moves from Receivable Notes to the Collect Account.
Required permissionsManage Receivable Cheques, set from Roles.
How to accessReceivable Cheques → open the cheque → Collect.
Contents
When does the action appear?
For a cheque with the status Received. After collection, its status becomes Collected.
Steps
- Open the Received cheque and click Collect.
- In the Collect form, the amount, cheque number, and Collect Account are shown as read-only.
- Enter the Collect Date and Notes.
- Click Collect. The message Receivable cheque collected successfully appears.
Effect on the system
| Debit | Credit | Entry date |
|---|---|---|
| Collect Account | Receivable Notes | Collect Date |
Restrictions and conditions
- The collect date can’t be before the due date, if one is set.
- It can’t be in a closed period.
- The Collect Account is the one set when the cheque was received. To change it, edit the cheque before collecting it.
- After collection, you can only edit the collect date and the collect notes.
Error messages and solutions
| Message shown | Cause | Solution |
|---|---|---|
| Collect date must be greater than or equal to the due date | Collecting before the due date. | Collect on or after the due date. |
| This date is in a closed financial period | The date is within a closed period. | Choose a date outside the closed period or reopen the period. |
FAQs
Can I collect a cheque before its due date?
No.
Collected the cheque by mistake?
Click Undo Collection.
What’s the difference between direct collection and depositing?
Direct collection adds the amount to your account immediately, while depositing records it as outstanding until the bank clears it.