Brokerage bills and payments

Introduction

CRM › Bills and payments is the firm’s receivables and payables in one place, in three tabs: To builders, To buyers and sellers (resale) and From sub-brokers. Each tab shows Bills or Payments, filtered by Pending, Overdue, Paid or Cancelled, with a search by invoice number.

A bill’s status is Open, Part paid, Paid, Settled (closed with a discount), Overdue (not paid and past its expected date, or marked not received), Cancelled or Revised. A bill counts as paid within 50 paise.

Two permissions govern the page, set per user under Company settings › Features: Raise bills (CRM by default; also revises and cancels them) and Record payments (accounts by default; also enters sub-brokers’ bills). Company admins hold both.

Raising a bill on a builder

The cleanest way is Generate invoice (see Generating an invoice), which works out the figures from the bookings, fills the builder’s format and opens this dialog pre-filled. To record a bill you prepared elsewhere, click Raise bill.

1. Pick the Builder and the Kind: Brokerage, Marketing, Builder incentive, Trip cash-out, Milestone, Slab difference, Bonus or Other.
2. Enter the Invoice number as printed on the bill and the Invoice date. Numbers are typed, not generated; the same number twice on the same party is refused.
3. Enter the Amount before GST; the GST rate (18% by default), GST amount and Total follow. Say Why no GST if there is none.
4. Attach the Bill PDF (required on a builder bill, under 15 MB), set the Expected payment date, tick the bookings this bill covers and click Save bill.

Recording a payment

1. Click Record payment, pick the Builder (or the buyer, seller or sub-broker on the other tabs) and the date it was Received on.
2. Enter the Amount received (what reached the bank) and the TDS deducted; BMexa suggests 2% of the amount before GST and you change it if the deduction differs.
3. Add the UTR and any notes.
4. Under Bills this payment settles, spread the amount and TDS across the party’s unpaid bills, or click Fill in order to settle the oldest first. Partial payments are fine; a bill becomes Part paid. Click Record payment.

Revising, cancelling and settling a bill

Open a bill to see its figures, the bookings on it and the payments against it. From there: Revise publishes a corrected version (the old one shows as Revised); Not received marks it overdue so it stands out; Cancel bill needs a reason and, when nothing has been paid, a credit note; Close with discount settles a part-paid bill by letting go of the rest (reason, credit note number, date and PDF, then Let go of ₹…); Reopen undoes a settlement.

Related

• Generating an invoice
• Sub-brokers and their agents
• Brokerage reports for firms