Read this Manager guide: https://www.manager.io/guides?receipts
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You need to add receipts to the invoice. Easiest is to open the Invoice and click on:
This receipt will then clear the amount due in Accounts receivable under Assets in Balance sheet and mark the Invoice with a green Paid in full label.
It will not change anything in the Income account as that was already increased when issuing the Invoice following Accrual accounting.
The other method is to enter it in receipts, but that method is more complicated.
Both are same only difference is one method invoice and amounts are auto filled while in other method you have to manually enter amount and if need invoice reference too (you can leave it automatic too).
Do you need to create a Sales Invoice?
Would a cash sale receipt suffice?
Indeed it is common to confuse an invoice with a receipt because they relate to payments, but serve different purposes.
- Invoice: Is a request for payment. It’s sent to the customer and lists the items or services provided, the amount owed, and the payment due date.
- Receipt: Is proof of payment. It’s given by the business to the customer after the payment is received, showing that the transaction is complete.
They thus present different stages of the payment process.
