Payments, ageing and tax corrections

The Collector Dashboard is the central hub for managing payments and receivables in KEBS. It provides a summary of key financial metrics and a trend chart showing billing versus collection performance over time.

Accessing the Collector Dashboard

• 1
  Navigate to Collector from the left sidebar or main menu.
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  The Dashboard page opens by default, showing the Overview tab.
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  Use the tabs at the top to switch between Overview, Billed Invoices, and Dunning.

Summary Panel

The Summary panel at the top of the Dashboard shows key metrics as cards. You can toggle between View Value (monetary amounts) and View Count (number of invoices) using the toggle buttons.

Trend Chart

Below the summary cards, the Trend section displays a bar chart comparing Planned Billing against Actual Billing month by month. You can switch between the Billing and Collection views using the toggle in the top-right corner of the chart.

• Planned Billing (light red bars): The forecasted or scheduled billing amount for each month based on project milestones and invoice schedules.
• Actual Billing (dark red bars): The actual invoiced amount for each month.

When a customer makes a payment against an invoice, the finance team records it in KEBS so the invoice balance is updated and the payment shows in the Collector Dashboard metrics.

Recording a Payment

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  Open the invoice you want to record a payment for from the Billed Invoices tab in the Collector or from the Invoicing module.
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  Click the Add Payment button on the invoice detail view.
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  Enter the Payment Date, Payment Amount, and Payment Method (e.g., bank transfer, cheque, online payment).
• 4
  Add a Reference Number such as the bank transaction ID or cheque number for traceability.
• 5
  Click Save to record the payment. The invoice balance updates automatically.

Tracking Payment Status

Once payments are recorded, you can track payment status at multiple levels:

• Invoice Level: Each invoice shows its total amount, paid amount, and outstanding balance.
• Customer Level: The Collector Dashboard aggregates all invoices by customer, showing their overall receivable position.
• Organization Level: The Summary panel provides a consolidated view of Billed, Collected, and outstanding AR.

Upcoming Payments

Upcoming payments are invoices that have been sent to customers but have not yet reached their due date. KEBS allows you to view these in the Collector to plan ahead and send reminders proactively.

• Due Date Visibility: Each invoice displays its payment due date based on the payment terms assigned during invoice creation.
• Reminder Scheduling: Configure automated reminders for invoices approaching their due date through the Dunning tab.

Ageing Payments

Ageing refers to the classification of overdue receivables by the number of days past the due date. KEBS groups overdue invoices into standard ageing buckets so that the collections team can prioritize their efforts.

In milestone-based billing, payments are tied to specific deliverables or phases of a project. KEBS tracks these milestones alongside the corresponding invoices, giving visibility into which milestones have triggered billing and which payments have been collected.

How Milestone Payments Work

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  A project is set up with defined milestones and their associated billing values during the project or quote creation phase.
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  When a milestone is completed and marked as delivered, the corresponding invoice can be generated.
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  The invoice is sent to the customer and appears in the Collector as a pending receivable.
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  When the customer pays, the payment is recorded against the invoice. The milestone is then marked as payment received.

• Milestone Status: Each milestone reflects its current status: pending, invoiced, partially paid, or fully collected.
• Planned vs. Actual: The Trend chart on the Collector Dashboard reflects the gap between planned billing (based on milestone schedules) and actual billing (invoices raised).

AR Days (Accounts Receivable Days)

AR Days, also known as Days Sales Outstanding (DSO), measures the average number of days it takes your organization to collect payment after an invoice has been issued. A lower AR Days value indicates faster collection and healthier cash flow.

• Calculation: AR Days = (Total Accounts Receivable / Total Revenue) x Number of Days in the Period.
• Impact: High AR Days means payments are taking longer to arrive, which may signal collection issues or customer payment problems.
• Benchmark: Compare your AR Days against your standard payment terms. If your terms are Net 30 but your AR Days is 55, you have a 25-day collection gap.

UBR Days (Unbilled Revenue Days)

UBR Days measures the average number of days between when revenue is recognized (work is delivered) and when the corresponding invoice is raised. A high UBR Days value means your organization is slow to bill for completed work.

• Calculation: UBR Days = (Total Unbilled Revenue / Total Revenue) x Number of Days in the Period.
• Impact: High UBR Days delays your billing cycle, pushes out collection timelines, and creates a drag on working capital.
• Root Causes: Common reasons for high UBR include delayed milestone sign-offs, pending timesheet approvals, or incomplete project documentation.

Tax corrections allow you to adjust the tax percentage or tax amount on an invoice that has already been generated. This is useful when the wrong tax rate was applied, when a tax exemption applies retroactively, or when regulatory requirements change.

Applying a Tax Correction

• 1
  Open the invoice that requires a tax correction from the Invoicing module or the Billed Invoices tab in the Collector.
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  Click on the Tax Correction or Edit Tax option available on the invoice detail view.
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  Update the Tax Percentage or Tax Amount as required. The system recalculates the invoice total automatically.
• 4
  Provide a Reason for Correction in the notes field. This is important for audit purposes.
• 5
  Click Save to apply the correction. The updated invoice reflects the revised tax values.

Key Considerations

• Audit Trail: Every tax correction is logged with the original value, new value, timestamp, and the user who made the change.
• Already Paid Invoices: If a payment has already been recorded, a tax correction may result in a credit or debit adjustment. Review the outstanding balance after correction.
• Regulatory Compliance: Ensure that tax corrections comply with your local tax regulations. Some jurisdictions require a credit note instead of an in-place correction.
• Approval Requirement: Depending on your organization’s configuration, tax corrections may require approval from a finance manager or administrator before they take effect.

The Dunning tab in the Collector allows you to configure and manage automated payment reminder workflows. When an invoice becomes overdue, KEBS can send a series of escalating reminders to the customer based on predefined rules.

• Reminder Levels: Configure multiple reminder stages (e.g., friendly reminder at 7 days overdue, formal notice at 30 days, escalation at 60 days).
• Templates: Use customizable email templates for each dunning stage to maintain a professional tone appropriate to the escalation level.
• Automation: Set reminders to trigger automatically or review them manually before sending.
• Tracking: View the dunning history for each invoice to see which reminders have been sent and when.

• Record payments promptly: Enter payment details as soon as they are received. Delays in recording payments distort your AR metrics and Collector Dashboard accuracy.
• Review the Collector Dashboard weekly: Use the Summary panel and Trend chart to spot collection slowdowns early. Pay close attention to the gap between Current AR and Overdue AR.
• Monitor ageing buckets actively: Do not let invoices sit in the 60+ days bucket without action. Assign specific follow-up owners for each ageing tier.
• Align billing with milestones: Ensure project managers mark milestones as complete on time so that invoices can be raised without delay, reducing UBR Days.
• Use the Dunning feature: Automate your reminder sequences rather than relying on manual follow-ups. Consistent reminders lead to faster collections.
• Audit tax corrections: Periodically review tax corrections to ensure compliance. Maintain documentation for each correction including the reason and supporting evidence.
• Reconcile monthly: At each month-end, reconcile the Collector Dashboard figures against your accounting system to ensure all payments are captured and balances match.