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.