Acknowledge Customer Check Cashing
Explanation
This activity is used to report that a check received from a customer has
been cashed. The cashing of a check takes place when the check is posted to an
interim account when sent to the payment institute for cashing. The confirmation
by the payment institute that the check has been cashed can be used as a basis
for reporting.
Prerequisites
In order to perform this activity:
- A mixed payment of
the NotApproved status should exist.
- A check cashing proposal of the Printed status with at least one
customer check should exist.
System Effects
As a result of this activity the following would take place once the mixed
payment is approved.
- The relevant interim cash account will be credited based on the posting
rules defined for PP35 posting type, and the cash account will be
debited based on the posting rules defined for PP1 posting
type.
- The status of the check will change to Cashed.
Window
Mixed Payment
Related Window Descriptions
Mixed Payment
Mixed Payment/Transactions
Procedure
To acknowledge customer check cashing:
- Open the Mixed Payment window and query for the mixed
payment you want to use for acknowledging the customer check cashing.
- Create a new record in the Transactions tab.
- Select Acknowledge Customer Check Cashing for the Payment
Transaction Type field.
- Enter the currency of the proposal you want to cash in the Currency
field. The List of Values can be used to select the currency.
- Enter the ID of the proposal you want to cash in the Proposal ID
field.
- Save the information. The checks included in the proposal will be
displayed in the Matching Transactions tab when you select the
transaction you saved.
- Remove any check you do not want to cash from the
Matching
Transactions tab and save.