What steps does Corinne need to take to record a customer’s payment?

If Corinne needs to record a customer’s payment, she should follow these steps:

1. Identify the Payment Method: Determine if the payment was made in cash, by check, credit/debit card, or electronically (e.g., bank transfer, PayPal, etc.).
2. Use a Record-Keeping System: Enter the payment details in a proper system such as accounting software (e.g., QuickBooks, FreshBooks) or a manual ledger. Include the date, amount, and method of payment.
3. Link to Invoice or Order: Record the payment against the corresponding invoice or sales order to ensure the transaction is properly documented and balanced.
4. Issue a Receipt: Provide the customer with a receipt detailing the payment amount, method, and transaction date for their records.
5. Update Records: Ensure the company’s financial records, such as the cash flow or accounts receivable ledger, are updated to reflect the payment.

By maintaining organized and accurate records, Corinne ensures transparency and minimizes potential discrepancies. Let me know if you need a more specific or detailed explanation for any of these steps!