Is processing of cash payments any differnt from electronic ones(through bank transfer)?
The normal process for a company to receive the money for the service is to issue an invoice with bank details in it, then the customer pays to the company's bank account. However once the company issued an invoice, but the customer paid in cash, though the amount was relatively small, something under 200 pounds. The co-director wrote on clients copy of the invoice that the company has received the payment and credited that amount to company's bank account later that day with invoice number as a reference. Will he need to do anything extra or other than that?