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Payment Processing Guide

The customer payment processing flowchart shows the steps taken when receiving a payment by mail. It involves matching the payment to an outstanding invoice, checking that the amounts match, addressing any discrepancies, and recording the payment or issuing a refund as appropriate. Key steps include verifying the payment corresponds to an invoice, forwarding copies to other departments, and contacting the customer if needed to resolve discrepancies over $500.

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Shane Tabunggao
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122 views1 page

Payment Processing Guide

The customer payment processing flowchart shows the steps taken when receiving a payment by mail. It involves matching the payment to an outstanding invoice, checking that the amounts match, addressing any discrepancies, and recording the payment or issuing a refund as appropriate. Key steps include verifying the payment corresponds to an invoice, forwarding copies to other departments, and contacting the customer if needed to resolve discrepancies over $500.

Uploaded by

Shane Tabunggao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MAT Inc.

Securities Trading

Customer Payment
Processing

Receive payment
in mail

Does payment Forward copy of check


correspond to Create invoice for
to Sales Dept. to write
outstanding invoice?
order order

Yes

Match payment
to invoice

Amounts match?

Yes No

Record receipt in
Accounting System and
Is discrepancy over
Deposit Check P500.00?

No Yes

Write off Is discrepancy an


discrepancy overpayment?

Yes No

Issue refund for Contact customer to


amount of request balance of
overpayment payment

Customer Payment ProcessingreceivingThea payment


Customer Payment Process Flowchart diagram describes the process of
of an invoice and processing the correct documents in the necessary
order. The flow chart revolves around determining whether the payment corresponds with
the invoice, checking whether the amount is right and determining if there is a discrepancy.

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