3. Key Features and Processing Rules

• Payment Allocation: Receipts are automatically allocated to the oldest outstanding debts first, based on the instalment agreement dates.
• Event Display: On the receipt document, the financial events covered by the payment will be displayed in alphabetical order.
• Reversals and Reprints: Processed receipts can be reversed if necessary. Receipts can also be printed at the time of processing and reprinted at any later stage.
• Printing: The company logo for the legal entity can be configured to appear on all printed receipt reports.
• Automatic Receipts (MaxCollect): If your organization uses the MaxCollect service, receipts from the following payment systems will be recorded automatically:
  • RealPay (EnDO, Normal Debit Order, Realtime Debit Order)
  • Allps (DebiCheck, SEFT)
  • NuPay DebiCheck
  • SureCollect (DebiCheck)
• Interest and Fee Calculation: Interest and fees are calculated and recorded in the correct financial period. They are created during the month-end process or when a final payment is made on a loan.
• Error Handling: The system will display an error message if an issue occurs while processing a receipt.

4. Entering Receipt Details

• Effective Date: Enter the date the payment should be used for interest calculation purposes.
  • Note: This date dictates the effect of the payment on the loan's outstanding interest. In most cases, it should be the same as the Transaction Date. Access to this field can be restricted by system administrators.
• Transaction Date: Enter the date the payment was physically received. This is the date the transaction will be recorded in the general ledger.
  • Note: Access to this field can be restricted by system administrators.
• Receipt Event: Select the appropriate financial event type for the receipt (e.g., Cash Payment, Debit Order).
  • Note: These financial events must be configured in the system in advance.
• Only Specific Receipt Event Attribute: Select this checkbox if you want the receipt to apply only to loans with a specific, matching receipt type attribute.
• (RSA) Legal Compliance: The receipting process adheres to the requirements of the National Credit Act No. 34 of 2005, Section 126.

Understanding the Summary and how to Print a Receipt

 

	Description	Documentation
Receipt Summary	Entering Payment Details and Loan Amount Summary	Receipt Summary
Print a Receipt	How to view and print a formal receipt after when you have received a client's payment	Print Receipt
Errors	What to do when you encounter an error during the receipt process	Errors

5. Action Buttons

• Next: Proceeds to the next step in the receipting process.
• Cancel: Closes the current screen and returns to the previous page without saving any information.