Collect

1. Cash management.

To obtain value for receivables through the banking system.

2. Tax - tax authorities.

To ensure the remittance of tax liabilities to the tax authority.

For example, through a pay as you earn system of payroll taxes.

3. Credit control - accounts receivable.

To obtain payment from a customer.

For example, under invoice discounting, the supplier will normally collect the invoice.

4. Credit control - other claims.

To obtain payment in respect of any claim.

For example, a first lien places the lien holder first in line to collect payment from the sale of the collateral in the event of a default on the debt.

5. Organisation.

To assemble and organise information - or anything else - in a systematic way.

See also

• Accounts receivable
• Authority
• Collateral
• Collection
• Collection account
• Collection float
• Collecting bank
• Collector of Taxes
• Confirmation
• Credit control
• Debit collection system
• Direct collection
• Documentary collection
• Disbursement
• First lien
• Invoice
• Invoice discounting
• Lien
• Pay as you earn
• Payroll tax
• Receivables
• Tax
• Value