What you’ll learn
- Distinguish collection, receipt and allocation.
- Reconcile field money and bank evidence.
- Review ageing and disputes with accountable actions.
Useful terms
- Unapplied receipt
- Verified money not yet allocated to a specific obligation.
- Allocation
- Application of a receipt or credit to an eligible financial document.
Step-by-step operating routine
Record the source collection
Capture payer, booking or invoice context, amount, method and collector. Keep cash and pending digital payment separate. A customer screenshot alone may need verification under the approved process.
Record or confirm- Payer
- Amount
- Method
- Collector
- Source reference
Verify handover or bank result
Match cash handover acknowledgement or the actual payment result. Record shortages or pending states with an owner. Do not mark all initiated transfers successful or retry without status reconciliation.
Record or confirm- Handover
- Bank reference
- Verified amount
- State
Allocate with clear references
Match the correct legal payer and intended invoices. Apply partial payments according to policy and retain unapplied balances. Prevent the same receipt from being used in full on multiple documents.
Record or confirm- Receipt
- Invoice
- Allocated amount
- Unapplied balance
Review ageing and disputes
Use the accepted due dates and separate disputed from undisputed amounts while preserving both. Assign collection owners and next actions. A verbal commitment is a follow-up record, not a receipt.
Record or confirm- Due date
- Age bucket
- Dispute
- Owner
- Commitment
Reconcile and correct
Compare field records, bank evidence, receipt ledger and allocations. Use authorised corrections or reversals with reasons. Investigate differences before closing the period.
Record or confirm- Collection total
- Bank total
- Ledger total
- Difference
- Correction
A partial receipt with an unapplied balance
A verified ₹15,000 receipt is allocated ₹10,000 to invoice A and ₹3,000 to invoice B, leaving ₹2,000 unapplied. The bank receipt remains one ₹15,000 event. Allocating the full amount again to another invoice would create false settlement and must be blocked.
- 10,000 + 3,000 + 2,000 = 15,000.
- Keep the correct legal payer.
- Retain unapplied money until identified.
Exceptions and mistakes to avoid
- Do not treat a customer’s promise as cash.
- Do not net an unrelated dispute against another payer without approved authority.
- Field collection and bank arrival can occur in different periods and require reconciliation.
Receipt allocation worksheet
Check that allocations plus unapplied balance equal the verified receipt.
| Receipt / payer | Verified amount | Invoice allocations | Unapplied balance | Reconciliation owner |
|---|---|---|---|---|
| Receipt 001 / Customer A | 15000 | A:10000; B:3000 | 2000 | Finance |
Includes the illustrative row and blank rows. This is a planning worksheet, not a HiVAM import format. Keep your completed copy private; do not add credentials.
Check your understanding
Try answering first, then open the explanation. Use the worksheet and source records to practise the task.
Can one receipt settle multiple invoices?
Yes, with explicit allocations whose total does not exceed the verified available amount.
Does a pending bank transfer settle an invoice?
Not until the approved verification and allocation process establishes the result.
Put it to work with HiVAM
Use these connections to explore the relevant product workflows. Confirm access in your deployed release; API capabilities require an integration or an available interface.
Paid, To-Pay and TBB freight billing
Keep payer and collection arrangements aligned with source work.
Partner settlement and balanced journals
Reconcile receipts and journals to their original evidence.
Keep your learning moving.
0 chapters marked complete. Reading progress stays in this browser; it is not a qualification or your company’s setup progress.
Try the workflow with your team.
Bring a representative job and an exception to a HiVAM demonstration. Review saved records, permissions and handoffs alongside the interface.