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Hi Experts,
Can someone explain how we can use the Check on customer payment?
I'm thinking:
1. Setup Customer method of payment as CHECK and Bridging posting.
2. When receipt the CHECK, record customer payment into bridging account.
3. When deposit the CHECK, use Select bridged transaction to clear bridging account into bank account or cash account (depend on the setting)
Is this a correct way to do?
Thank in advance,
Best regards,
Thu
Hi Thu,
This is an option for the receipt of a customer check.
However, in my experience, most organizations do not use the bridging account, opting instead to debit the bank subledger directly. This avoids the need for the effective duplication of step 3, since the bank reconciliation process is effectively the same activity.
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