How to record money received
When a customer pays, match the money to the invoice and mark it paid. Keep a list of who still owes you, and post the receipt.
This path is practice in how the records and the sums work. It is not tax advice. Any rate or allowance in a question is an example for that question, so check GOV.UK for the current figures.
Task 1Match the money to the invoice4 questions
When money arrives, find the invoice it pays. Write the date paid and how it was paid against that invoice.
A payment that does not match one invoice needs a closer look. It may cover two invoices, or be short.
| Invoice | Customer | Amount |
|---|---|---|
| 0049 | Alder Dental | 1,200.00 |
| 0051 | Quay Bakery | 150.00 |
| 0052 | Marsh Lane Yoga | 275.00 |
| 0053 | Quay Bakery | 90.00 |
An invoice that is only partly paid stays on the list, at the amount still owed.
Task 2The receipt in the books4 questions