Collections record the physical receipt of money from customers, reducing the Customer's Balance Due.

• Invoice Linking: Each collection entry should be linked to one or more Sales Invoices.
• Payment Methods: Specify if the payment was Cash, Bank Transfer, or Cheque.
• Status: Collections directly update the "Paid" status of linked invoices.

Payments record the settlement of debt to your Suppliers, reducing Accounts Payable.

• Bill Settlement: Apply payments against specific Supplier Invoices.
• Bulk Payments: Record a single bank transfer covering multiple bills from the same vendor.
• Vouchers: Generate and print Payment Vouchers for physical signatures and filing.

Define your corporate bank accounts here. Every Collection and Payment must specify a source/destination bank account to ensure your Trial Balance remains accurate.