Published policy

Payment, Receipt, and Billing Policy (v2.2)

Accepted payment modes, mandatory receipt rules, collection controls, customer advance liabilities, reversal mechanics, and cashier day-close standards.

Slug: payment-policyEffective: 2026-08-20Published: 8/20/2026Statutory & Rulebook Codified

Payment, Receipt, and Billing Policy

Subidha Furniture enforces strict financial and accounting controls to safeguard customer funds and preserve transactional auditability.

1. Approved Payment Channels

**Authorized Channels**: Payments must be remitted exclusively through:

**Cash Counter**: Showroom cash desk with immediate digital receipt issuance;
**UPI**: Direct scanning of official Subidha Furniture dynamic/static QR codes;
**Bank Transfer**: NEFT / RTGS / IMPS to designated company bank accounts.

**Prohibition of Unauthorized Collections**: Customers must never remit funds to personal accounts, personal UPI handles, or unverified field agents. Subidha Furniture bears no responsibility for payments made outside official channels.

Need transaction-specific confirmation?

Please confirm invoice, EMI, refund, warranty, delivery, and compliance terms with the branch before payment.

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2. Mandatory System-Generated Receipts

**Receipt as Sole Legal Proof**: A payment is recognized by Subidha Furniture **only when backed by an official system-generated receipt**.
**Receipt Content**: Every valid receipt must clearly display:

Unique Sequential Receipt Number (e.g., `REC-2026-XXXX`);
Date and precise timestamp of collection;
Collected Amount in Indian Rupees;
Payment Channel and Transaction Reference (e.g., Bank UTR or UPI Ref);
Subscribed Contract / Invoice Reference;
Collector Name and Branch ID.

**Digital Customer Access**: All receipts are instantly accessible in the customer portal under the customer's authenticated profile.

3. Allocation Hierarchy & Customer Advances

**Allocation to Oldest Dues**: When an installment payment is collected, the billing engine automatically applies funds to the oldest outstanding demand or EMI installment.
**Overpayment & Customer Advances**:

Any payment exceeding the immediate outstanding balance is not treated as income; it is credited to `CustomerAdvance`.
Customer Advances are maintained as a balance sheet liability until applied to future monthly installments or refunded via approved payout.

4. Payment Reversal and Void Governance

**Append-Only Ledger Reversals**: Because the financial ledger is immutable, an erroneous payment cannot be deleted.
**Reversal Invariants**:

Payment reversal generates a `PAYMENT_REVERSAL` ledger entry.
Because the underlying ledger payment field is a OneToOne link, reversal entries use `payment=None` and record the reversed payment ID within the `allocation_context` audit metadata.
Original receipt documents remain preserved with a prominent `VOID` watermark.

**Managerial Authorization**: Reversals require verified documentary evidence (e.g., bank chargeback advice or duplicate entry proof) and managerial sign-off.

5. Cashier Day-Close & Reconciliation

**Daily Drawer Settlement**: Every cashier must complete a mandatory Day-Close reconciliation protocol at the end of each shift, reconciling physical cash and digital settlement slips against recorded collections.
**Dynamic Chart of Accounts Mapping**: All collections dynamically map to designated settlement accounts (`FinanceAccountCoaMapping`) ensuring accurate liquid balance reporting.

Legal usage note

Published policy text is for customer clarity, operational governance, and statutory compliance.
Contracts, tax invoices, receipts, and audited delivery records remain the canonical transaction source.
For contract-specific clarifications, contact the Subidha Furniture showroom administration.

Payment Policy