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This article explains when to use Collect Now vs Record Now and the difference between them.
Both options mark payment for an invoice. The difference is the payment mode: Collect Now is for online payments; Record Now is for offline payments.
Collect Now
Record Now
Note:
For both options, you can enter the amount in the next step. You can enter a value less than or equal to the invoice amount. The invoice is marked as Paid when the amount due becomes 0.
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