What should you verify?
1. Review the document and customer
Match the invoice number, customer, document status and outstanding amount. Do not use a draft or cancelled invoice as evidence of a final collection.
2. Match currency and precision
Compare the payment currency with the invoice currency. Different currencies require a documented conversion date and exchange rate; do not add their amounts directly.
3. Record the reference once
Use the bank or payment reference and transaction date. Check for an existing reference to prevent duplicate recording, and retain supporting evidence under your company policy.
4. Verify the remainder after each payment
In an illustrative example, an invoice of 100 and a payment of 40 in the same currency leave 60 outstanding. Check the balance before the next payment and avoid recording more than the remainder.
5. Distinguish collection from ledger posting
Recording an invoice payment does not necessarily create a general-ledger journal automatically. Verify the integration, posting permissions and open fiscal period in your chosen system.
6. Reconcile reports and evidence
Match the customer balance to invoices, payments and the bank statement. Review posted journals and the trial balance separately; accounting corrections should retain the original transaction history.
Your next practical step
Try an invoice and two payments in a test environment. Check the balance after the first and settlement after the second, then inspect the book to establish what was actually posted.