What is the process through which a customer's payment is posted to its account and the outstanding invoices are cleared as paid?

Question

Quizplus · Accepted Answer

The process described in the question is known as cash application, which involves posting customer payments to their account and reconciling outstanding invoices to mark them as paid. Options A and B relate to different aspects of accounts receivable management and not the specific process of payment posting. Option D is unrelated and refers to a production management system. Therefore, the correct answer is option C, cash application.

What Is the Process Through Which a Customer's Payment Is