Record and clear a buyer's receipt

Money from a buyer is recorded as a receipt, and the receipt settles the booking's open demands by itself, oldest due first: you type what reached the bank, nothing is picked by hand. A receipt is saved as Pending first and posts its receipt voucher only when it is cleared, so a cheque that never clears leaves no trace in the books. Clearing settles the buyer's bill and moves the demand to Partially Paid or Paid; placing the money on the individual charges is a separate step on the demand.

A buyer's money is three entries, never one receipt with TDS and GST fields: the consideration receipt (the price, into the collection account, swept the moment it clears), the GST receipt (the tax, into the GST or operative account, never swept; recorded on its own or together with the consideration in one save) and the TDS credit (the TDS the buyer deducted and deposited with the Income Tax department: money that never reaches the bank, recorded under Payments > TDS credits).

Before you start

• The demand is Issued or Partially Paid: Raise and issue a demand on a booking. A receipt on a booking settles demands only; the schedule's installments are never settled directly. Without an open demand the whole receipt stays on account on the buyer's ledger.
• The bank account the money went into is a bank account of the project's promoter company and the books have a ledger for it. Under RERA every buyer payment enters the project's collection account, where the bank sweeps it; the project overview's readiness card shows the account and creates missing ledgers with Sync bank ledgers: Make a project ready to sell and collect. A receipt with no account is posted to cash.
• You need the Create permission on Payments to record and the Edit permission on Payments to clear: in the default roles the Administrator, the Finance Lead and the Accountant. Recording the TDS credit needs the Create permission on Payments too. Without the Edit permission on Payments, Save and clear and Mark cleared aren't shown; someone else clears what you record.
• Know what the buyer actually paid. A booking demand bills the full total and shows "Payable in money" after the TDS the buyer is expected to deduct. The receipt is for the money that arrived; the TDS never comes to you, so it is not typed anywhere on the receipt.

Steps

1. Open the demand (Demand) and click Record receipt. You can also start from Record receipt on the booking's Demands & money tab, from Record receipt on Payments, or from the dashboard's "Record a receipt" launcher. The Record receipt page opens with the badge "Money in". Started from a demand, the Who and where card already holds the Booking (hint "Sets the buyer and the books; receipts settle its demands."), the buyer as Party, the Project and Books ("From the booking's promoter"); Amount received holds what the demand still takes in money (its open amount less the TDS credit still expected), and the card What this receipt settles lists the booking's open demands. Nothing is pre-allocated: the receipt settles the open demands by itself. Started blank, search the booking under Booking first ("Search active bookings"); the rest follows. Purpose is a list: Installment, GST, TDS, PFC or Other Charges; choosing Other Charges opens Which charges (placeholder "Society transfer fee, extra work…") for a few words. GST sets This receipt is to GST (and the other way round; hint "Sets This receipt is to GST."); TDS shows the hint "A buyer's TDS is recorded as a TDS credit under Payments > TDS credits, not as money received."
2. On How and how much, leave This receipt is on Consideration ("The price (base, PLC, parking, deposits…). Into the collection account; the bank sweeps it the moment it clears."). Fill Received on (today by default), Mode (NEFT by default; Cash, Cheque, Demand draft, RTGS, IMPS, UPI, Card or Other) and Amount received (hint "What reached the bank. The TDS the buyer deducted is recorded as a TDS credit, not here."): when the demand was for ₹18,90,000 with ₹18,000 TDS expected, a buyer who deducted the TDS pays ₹18,72,000, and that is the amount. For anything but cash, Into our account is preselected with the project's collection account; the list shows the promoter's active accounts as "<bank> ····<last 4> · <purpose>", with the hint "The books need a bank ledger for this account." Leave it on the collection account: under RERA every buyer payment enters there, and the bank sweeps it (Check the RERA accounts and the sweep share). If you pick another account, an amber alert appears before you save: "Under RERA every buyer payment enters the project's collection account (<bank> ····<last 4>), where the bank sweeps it. Pick it unless the money really went elsewhere; the receipt is saved either way, with a warning." Optionally pick From the payer's account. For NEFT, RTGS, IMPS, UPI or Card type the UTR / reference (stored in capitals); for a cheque or demand draft fill Cheque number, Cheque date and Drawn on ("Bank and branch"). Narration is optional.
3. If the buyer paid the GST on the installment too, tick Also record the GST receipt ("The buyer paid the GST too: a second receipt, same date and instrument, into the GST (or operative) account, settling the same demands."), type the GST amount and leave GST into on the project's GST account, or its operative account when the project has none (placeholder "<bank> ····<last 4>"; hint "Never swept: the sweep takes only what reached the collection account."). The What this receipt settles card adds "The GST receipt settles the same demands the same way." If only the consideration arrived, leave the box unticked; the GST can be recorded later as a receipt of its own with GST chosen under This receipt is.
4. Read the What this receipt settles card ("The amount settles the booking's open demands by itself, oldest due first; anything left stays on account on the payer's ledger."). There is no Allocate button on a receipt: the money goes to the booking's open demands in order of due date, oldest first (a demand without a due date last, then the oldest demand date), each taking up to what it still has open, and the rest stays on the buyer's ledger. The card lists each demand the amount reaches as "Demand <no>" with "<date>, due <date> · <status> · <open> open" and its share on the right, then one line: "<amount> settles the above" in green when every rupee lands on a demand, "<settled> settles the above · <rest> on account" in amber when part is left over, "Nothing open to settle: the whole <amount> stays on account." when nothing is open, or "Type the amount received to see what it settles." before an amount is typed (amounts without the ₹ sign). A receipt of ₹10,00,000 on a booking with ₹73,71,000 due on 12 October and ₹8,19,000 due on 15 October goes entirely to the 12 October demand ("10,00,000.00 settles the above"). A demand's open amount is its full total less what was received and the TDS credits already recorded, so the part the buyer deducted stays open until the TDS credit is posted; the save applies the same order to the live open amounts, leaving out what other Pending receipts already earmark. Anything left on account can be placed on a later demand with Apply to a demand on the payment page.
5. Click Save and clear. You see "<receipt no> cleared; voucher <no> posted." (followed by "GST receipt <no> cleared with it." when you ticked the GST box) and the payment page opens with a Cleared badge, the Voucher link and the Allocations table ("Demand <no>", its status, the amount, Made "At recording"). The receipt is dated and cleared on Received on; the GST receipt is cleared on the same date and linked from the alert at the top. If the money is not in the bank yet (a cheque in hand), click Save as pending instead: you see "Payment recorded as pending." (and "GST receipt <no> recorded with it."), the badge reads Pending and the demand's open amount is earmarked but nothing is posted. A red toast may follow either button: "This receipt goes to <bank ····last 4 | cash>, not the collection account <bank ····last 4> of <project>; under RERA every buyer payment enters the collection account, where the bank sweeps it <n>% to the separate account", "<Project> has no collection bank account yet, so this receipt cannot be checked against RERA; add the account under the project's "Promoter & bank accounts" step", or for the GST receipt "This GST receipt goes to the collection account <bank ····last 4> of <project>, where the bank sweeps it with the consideration; GST is normally banked into the GST or operative account" or "This GST receipt goes to <bank ····last 4>, which is not the GST or operative account of <project>". The receipts are saved (and cleared) all the same; these are warnings, not blocks.
6. For a pending receipt, once the bank confirms it, open the payment and click Mark cleared. The dialog "Mark as cleared?" reads "The receipt voucher is posted (bank or cash debited, the buyer credited against the allocated bills) and the demands and schedule rows are marked paid." Set Cleared on (today by default) and click Clear and post. You see "<receipt no> cleared; voucher <no> posted." and the badge reads Cleared. When the GST receipt recorded with it is still pending, the dialog adds "The GST receipt recorded with it is cleared on the same date." and both clear in one go (the alert at the top, "Recorded together with the GST receipt <no> (<amount>, Pending)…", then reads Cleared).
7. Give the buyer their receipt. On the payment page's Documents card click Generate receipt, choose the published receipt template under Template (the starter "Receipt (standard)" must be published first: Put a starter template into use), keep PDF and click Generate. You see "<document no> generated." and the receipt appears in the card: who paid, the amount in figures and words, the cheque or UTR, the unit and project, the demand it settles and "Realised on <date>". The Email icon on the row sends it to the buyer; Download PDF saves it for printing. The same receipt is listed on the booking's Documents tab. To have this happen by itself, switch on "Receipt cleared: generate the receipt (system)" under Rules.
8. Open the demand from the "Demand <no>" link on the Allocations card. Received and Outstanding on the Amounts card are updated, the status reads Partially Paid or Paid (paid once the money received reaches "Payable in money", even while the TDS credit is still pending), and the card Appropriation against charges has appeared. Place the money on the charge lines: Appropriate a receipt across a demand's charge lines. Without this step the booking's schedule rows stay Pending.
9. When the buyer hands over the Form 16B (or the Form 26QB challan) for the TDS they deducted, click Record TDS credit on the demand's Amounts card (shown while something is still open on a demand that bills the full total) and follow Record a TDS credit for the TDS a buyer deducted. The Record TDS credit page opens with the demand preset and the expected TDS filled in; Record and post posts the Journal voucher at once. Back on the demand, TDS credited rises, Of which TDS credit pending falls and the credit is listed under TDS credits against this demand. A demand issued before 10 October 2026 booked its TDS when it was issued: it shows Record Form 16B instead and takes no TDS credit.

What happens next

• Clearing posts a Receipt voucher dated Cleared on: the bank (or cash) ledger is debited with the amount received, the buyer's ledger credited against the bills of the demands the receipt settled; anything left over sits on the buyer's ledger as an advance, on account. The GST receipt posts its own Receipt voucher, debiting the GST (or operative) account's ledger. Each voucher is linked from its payment page and each receipt is numbered RCT-… per books.
• The moment a consideration receipt clears into the collection account, the system rule "Receipt cleared into the collection account: post its RERA sweep (system)" (on by default) records the bank's sweep: one sweep for that receipt alone, dated its clearing date, the escrow share to the RERA separate account and the rest to the operative account, as one Contra voucher (two receipts cleared on the same day get two sweeps). The payment page then shows a RERA sweep card linking to it. The GST receipt is never swept (unless it was banked into the collection account). "Daily RERA sweeps (system)" is a catch-up rule that ships switched off; to post a sweep the rule could not, use Sweep this receipt on the payment page, or Sweep now under RERA sweeps to catch up a project by clearing date or review a Draft before it posts: Sweep the collection account by hand.
• The receipts are listed on the booking's Demands & money tab (Received (cleared) rises), under Payments (the GST receipt with a blue GST badge), and on the demand's Receipts against this demand card.
• The TDS credit posts a Journal voucher on the day the buyer deducted the tax: TDS Receivable debited, the buyer credited against the demand's bill. The demand's open amount falls by it and the credit is listed under Payments > TDS credits.
• If the organization switched on "Receipt cleared: acknowledge by email (system)" under Rules (it ships off and needs the "Receipt (standard)" template published), the buyer receives an acknowledgement with the receipt attached and step 7 is done for you; "Receipt cleared: generate the receipt (system)" generates it without emailing.
• If the cheque later bounces, or a pending receipt is cancelled, every receipt document on it is voided with the reason and prints with a VOID watermark.
• A cheque that comes back is bounced on the payment page, which reverses the voucher and reopens the bill: Bounce a returned payment or correct a pending one. A pending receipt with a typing mistake is edited there too. The consideration receipt and the GST receipt are bounced or cancelled each on its own page.

If something goes wrong

• "Saved as pending, but clearing failed: These books have no ledger for that bank account. Add a bank ledger under Chart of accounts first.": the receipt is saved as Pending. Click Sync bank ledgers on the project overview (or add the ledger under Chart of Accounts > Ledgers), then Mark cleared. See Clearing failed (trouble.accounting.clearing-failed).
• "This receipt goes to <bank ····last 4 | cash>, not the collection account <bank ····last 4> of <project>; under RERA every buyer payment enters the collection account, where the bank sweeps it <n>% to the separate account" or "<Project> has no collection bank account yet, so this receipt cannot be checked against RERA; add the account under the project's "Promoter & bank accounts" step": the receipt is saved; if it should have gone to the collection account, edit it while Pending, or add the missing account. See Receipt saved with a warning: it went outside the collection account (trouble.accounting.escrow-share-warning).
• "A buyer's TDS never reaches the bank: record it as a TDS credit, not on the receipt", "Only a receipt can be a GST receipt", "Give the GST amount received, or untick the GST receipt", the banner "Record the GST the buyer paid as its own GST receipt (receipt kind GST, into the GST or operative account) instead of splitting it off this receipt", or the GST receipt warnings "This GST receipt goes to the collection account <bank ····last 4> of <project>, where the bank sweeps it with the consideration; GST is normally banked into the GST or operative account" / "This GST receipt goes to <bank ····last 4>, which is not the GST or operative account of <project>": see Receipt refused: TDS or GST entered on the receipt instead of as its own entry (trouble.accounting.gst-banked-apart-refused).
• "That demand is not open for receipts.": the demand was cancelled, or paid in full, between the preview and the save; reload the page and the card shows what is open now. See Payment rejected (trouble.collections.payment-rejected).
• "Pick the party, or a booking whose buyer it is" or "Choose the books (or a booking the books follow from)": pick the booking first. Same article (trouble.collections.payment-rejected).
• "These books are inactive. Reactivate them under Books to post entries." See Books inactive (trouble.accounting.books-inactive).
• "No fiscal year covers that date. Open the next fiscal year under Books first." or "Period <n> of <year> is locked" on clearing: change Cleared on or open the period. See Fiscal year missing (trouble.accounting.fiscal-year-missing).
• The TDS credit is refused ("Demand <no> has <open> open; a TDS credit of <amount> is more than that", "Demand <no> booked its TDS when it was issued; record the buyer's Form 16B on the demand itself (Record Form 16B on its Amounts card)"…): see TDS credit refused (trouble.accounting.tds-credit-refused).
• Record receipt is missing on an Issued demand, or the page shows "No access": your role lacks the Create permission on Payments. See No permission (trouble.admin.no-access).

Related

• Record receipt / Record payout
• Payment
• Record TDS credit
• TDS credits
• Record a TDS credit for the TDS a buyer deducted
• Generate a document
• Put a starter template into use
• Payments
• Demand
• Demands & money
• Raise and issue a demand on a booking
• Appropriate a receipt across a demand's charge lines
• Bounce a returned payment or correct a pending one
• Check the RERA accounts and the sweep share
• Sweep the collection account by hand
• RERA sweeps
• Make a project ready to sell and collect