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 referred to is cash application, which is the process of posting customer payments to their account and applying those payments to their outstanding invoices to clear them as paid. Option A (payment pattern monitoring) and B (aging of accounts receivable) are not specific to the process of posting payments and clearing invoices. Option D (just-in-time system) is unrelated. Therefore, option C is the correct answer.

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