I have an ongoing contract with my client.
The balance is adjusted every month as Client payments are received and my new charges added.
Payments received from the client are marked as sales receipts and matched with bank statements when updated online.
I have sent one invoice so far which includes the outstanding balance to date (shown as a positive number of the invoice) and payments received to date (show as negative number on invoice).
- I am unsure how to mark off payments made against the invoice since it was sent
- what happens at the end of the month when I need to send another (updated invoice) showing new payments received and new charges added
- how do they all get added and removed from the client trust account - liabilities.
Thanks for any help you can give.
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