Following documents are required:

1. Company pan card
2. GST / Electricity bill
3. Consent form
4. Cancelled cheque

Yes, the debtor will get an option to make the part payment.

As it is a Virtual Account registration, it is advisable to register the owner's name.

Yes, they have to register again because Smart Collect and Tally Prime licenses are different.

Yes, the VA account can be used to fill out NEFT / RTGS form.

The transaction details get updated on the same day the debtor makes the payment, that is instantly.

No, the current solution does not support foreign transaction.

Smart Collect will assist us in collecting payments from the customers and automatically posting transaction details in Tally. Accurate accounting effects can be provided by the accounts team.

The system will capture transaction details and update them in Tally. However, any additional information or transaction background needs to be updated by the accounts team only.

The transaction details will be instantly updated in Tally.

Yes, you can use multiple bank accounts to accept the payment.

HDFC and ICICI offer their payment solution to their  current account holders only. While Smart Collect can work with any bank. You are not required to open a bank account with any bank in order to use Smart Collect.

No, only VA account holders can use this system to make payments.

Yes. it can be deposited on the same day. There are 2 options:

T+1 - There are no transaction fees and the amount gets credited on the next working day.

Same-day - There will be a fee per transaction and the amount gets credited on the same day.

There are 2 choices:

1. Having a single VA account for multiple locations. The transaction details will be updated in a single VA account, and the accounting effects will be provided by the Accounts team.
2. Separate VA accounts for separate locations. Transaction information will be recorded in the appropriate VA accounts.

Yes, we can change the bank details. For this you need to contact our support desk and help us with the cancelled cheque.

The date required for auto bank reconcilation will be decided based on the settlement day.

1. T+1 settlement - It will take place on the next working day.
2. Same day settlement - It will take place that very same day.

The date required for auto bank reconcilation will be decided based on the settlement day.

1. T+1 settlement - It will take place on the next working day.
2. Same day settlement - It will take place that very same day.

No, the existing customer doesn't need to create a new ledger for VA number tagging.

No, the accounts team will have to do it manually.

No, it's a one-time activity. It's a Virtual account number. Once it is created, it's done.

It currently takes time to analyse the transaction.

Tally, by default, treats all online payments as NEFT only. For that, you need to click on the Smart Collect tab through Tally, and there you can see the exact payment mode used by the debtor.

Sometimes, the bank's server goes under maintenance. This may happen if the receiver's or the payer's bank is under maintenance.

Yes, our solution will work fine with the CC account.

No, the VA account cannot be used to deposit cheques. You must use a current or overdraft account for that.

If the payment was made twice then the transaction details will get updated in Tally & then the receiver can issue the refund to the debtor.