Cash Customer Check
Explanation
This activity is used to report that a customer check has been cashed. The confirmation by the payment institute that the check is 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 customer check of the Created status should exist.
System Effects
As a result of this activity, the following would take place once the mixed payment is approved.
- The open customer check amount will be credited based on the posting rules defined for the
PP28 posting type, and the cash account will be debited based on the posting rules defined for the
PP1 posting type.
- The status of the customer check will change to Cashed.