The term of collection is usually used when a good collection of some monetary resources or physical goods is made. That is, they are going to have good custody of them so that in the future an obligation is satisfied.
The verb to collect is the action of gathering, piling up or making custody of some resources in order to cover future or third-party needs. Now, depending on the area in which we find ourselves, it will mean one thing or another. Let's see some cases:
- Business. In the case of companies, the collection term refers to the collection of income in a specified time. This income is measured by the amount of money that enters the company: the sales that have been made in a certain period and at a certain price.
- Public administration. In this case, the collection can indicate drops or increases in collection, inducing us to talk about the variation in consumption or investment, but also about an economic crisis.
- Fiscal scope. The companies are in charge of collecting the different rates, IVA, IRPF and other impuestos that are directed to the state account and that, therefore, must be collected and duly deposited within established deadlines. The companies themselves are in charge of collecting the necessary tax from their companies or clients to be able to send that money to the State correspondingly within the deadlines.