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To create Automatic receipt, Lockbox process is one of the ways to achieve this requirement. File Received by Bank => Upload the files => System will read the file => Receipt will be created => Receipt will be applied.Bank => Send File => All Deposit details/information is called Lockbox file.Process needs to be run to … Read more
Overview of Invoicing Rule Invoicing Rule:Determine the accounting period or periods in which the revenue distributions for an invoice line are recorded.1)In Advance:Use this rule to recognize your receivables immediately.2)In Arrears:Use this rule if you want to record the receivable at the end of the revenue recognition schedule. Recognizing Revenue:Revenue is recognized according to the … Read more