In short
- Record every payment against its invoice on the day you receive it, with how it was paid.
- For a cheque, note the number, the bank and the date written on it, and check it clears.
- A returned cheque means the invoice is unpaid again: reverse the payment, don’t delete it.
In Sri Lanka a single month of payments can include a bank transfer, a stack of cheques, cash at the counter and a LankaQR scan. Each lands in your bank differently. Recording them the same way every time is what keeps your books and your bank statement in agreement.
Bank transfers
The simplest. Record the payment against the invoice on the date it reaches your account, and add the reference your customer used. Put your bank details on every invoice, so customers don’t have to ask.
Cheques
- Record the cheque number, the bank and branch, and the date written on the cheque.
- Record the payment on the day you receive it, then check it clears a few days after you deposit it.
- A post-dated cheque can’t be banked before its date. Keep the invoice open until then, with a note of the cheque.
- Banks generally won’t accept a cheque that’s more than six months old, so bank cheques promptly.
When a cheque bounces. If a cheque is returned unpaid, reverse the payment rather than deleting it. The invoice is owed again, and the history shows what happened. Bank charges for the returned cheque are a cost of yours.
LankaQR
LankaQR is the Central Bank of Sri Lanka’s national QR standard: a customer scans your code in their banking or payment app, and the money comes to your account. Record it as a LankaQR payment with the date and the reference from your bank’s notification, the same as a transfer.
Cash
Give a receipt for every cash payment, record it the same day, and bank cash regularly. Cash that isn’t recorded is the hardest thing to explain to a tax practitioner later.
| How they paid | Record | Check |
|---|---|---|
| Bank transfer | Date it arrived, reference | Matches your statement |
| Cheque | Number, bank, date on the cheque | Cleared after deposit |
| LankaQR | Date, reference | Matches your statement |
| Cash | Date, your receipt number | Banked, or counted at month end |
Record the payment the day it happens, with how it was paid. The bank statement then becomes a check, not a puzzle.
General information, correct as of 14 October 2026. It isn’t tax or legal advice: check with your tax practitioner before a big decision.