Finance
Recording payments and collection
An issued invoice is not collected money. Recording each payment as it arrives is what keeps the receivable figure true, and turns collection into follow-up rather than guesswork.
Steps
- Open the invoice and record the payment received with its amount, date and method.
- Record partial payments as they are — the remainder is calculated for you, with no side spreadsheet.
- Watch the receivables list: what is late, how late, and from whom.
- Keep the collection follow-up in the client’s own conversation, so the record of the request is written, not verbal.
Worth knowing
- Pick one fixed day a week to review receivables. Collection with no appointment does not happen.
- An early, polite reminder works better than a hard message two months on.
The module this belongs to: Explore Finance
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