An approved sale is not a received payment. Organized accounts receivable show what is due, paid, overdue and expected in cash flow.
Record every installment
Include customer, sale, amount, due date, payment method and status. Avoid combining everything into one undated entry.
Establish a collection routine
Review upcoming and overdue payments at a set frequency. Early contact is usually simpler than collecting after a deadline.
Compare expected and actual receipts
Use differences to adjust deadlines, terms and forecasts. Aluminus financial management connects these records with the sale.