Collections
LoftRay raises demands for every booking when a construction stage is certified, then tracks each receipt until the bank clears it. Late payers are charged interest automatically, and ageing shows who is overdue on any day, not just at month-end. Refunds and cancellations need a second person to approve.
Collections · Overdue demands
Skyline Residences · Tower B
| Booking | Unit | Stage | Due | Amount | Status |
|---|---|---|---|---|---|
| BKG/0028 | B-1204 | Slab 8 | 20 Oct | ₹11,61,796 | 9 days late |
| BKG/0041 | B-0703 | Slab 8 | 20 Oct | ₹9,84,250 | Cheque bounced |
| BKG/0017 | B-0302 | Slab 8 | 20 Oct | ₹10,42,600 | Cleared |
| BKG/0052 | B-1101 | Slab 4 | 14 Aug | ₹8,90,400 | 76 days late |
Who it’s for
The people who answer for this part of the project, and what each of them gets from it.
Sees collected, due and overdue amounts by project every day, with ageing and late-payment interest.
Raises demands in one step when a stage is certified, and records receipts, bounces and clearances.
Answers buyers with an exact statement and schedule instead of rebuilding it in Excel.
What it does
Everything listed here works in LoftRay today.
When a milestone is certified in Construction, demands are raised for every booking on that stage. Mistakes are fixed with a correction or reversal, never by editing history.
Cheques and transfers are recorded as receipts, then marked cleared or bounced. Every step stays on the buyer’s statement, and buyers get a receipt notice by email and WhatsApp when their payment clears.
Receipt cancellations, refunds, booking cancellations and unit transfers each go through approval before they take effect.
Interest on overdue demands is worked out from your approved rule, so buyers are charged the same way every time.
Payment reminders and demand notices go out on WhatsApp from your own business number, using your approved templates, and by email from your own mail server. A message that fails to deliver is recorded, so someone can follow up.
Raise a payment link for what a buyer owes on a demand, and collect it by UPI, card or netbanking through your own Razorpay or Cashfree account. A paid link becomes a receipt on its own, and buyers see open links as “Pay now” in their portal. Bank transfers to virtual accounts are matched to the booking.
If a buyer pays more than is due, the extra is held on account and applied automatically to their next demands. The receipts list shows it as “Held for next demands”.
Ageing and an overdue summary show every unpaid demand by project and by age. Buyer statements and payment schedules are ready on request.
Import bank statements as CSV, Excel or MT940 and match them to receipts. Possession dues are tracked before handover.
How it works
The project team certifies a milestone, for example the 8th slab of Tower B.
Demands are raised for every booking whose payment plan includes that stage, with GST where it applies.
Each payment is recorded as a receipt and marked cleared or bounced when the bank confirms.
Import the statement as CSV, Excel or MT940 and reconcile it with the receipts.
Ageing, the overdue summary and late-payment interest show the CFO exactly where the money is.
Questions
When a construction milestone is certified, LoftRay raises demands for every booking whose payment plan includes that stage. A wrong demand is corrected or reversed, so the history stays intact.
CSV, Excel and MT940 statements can be imported and matched to receipts.
Yes, through your own Razorpay or Cashfree account. Your team raises a payment link for a demand, the buyer pays by UPI, card or netbanking, and the paid link becomes a receipt. Open links show as “Pay now” in the buyer portal, and bank transfers to virtual accounts are matched to the booking.
Keep reading
Tell us about your projects and we will set up a 30-minute demo with your towers and payment plans, not generic sample data.