Use this activity to report checks as cashed if the company uses an interim account for checks until they are reported as cashed. As the basis for reporting, you use the confirmation from the financial institution, or payment institute, that the check has been cashed.
This activity requires that the Use Interim Cash Account option be enabled 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.