This activity is used to indicate that a repayment check sent to a customer has been cashed. When the check is cashed, a voucher is generated with postings to the interim cash account and cash account. The status of the check changes to Cashed.
The Use Interim Cash Account when Cashing on Due Date option should be selected in the Payment Documents page.
When a check is cashed, a voucher is generated with postings to the transit account and cash account. The status of the check changes to Cashed.