Which of the following normally would trigger the B/AR/CR process to record a customer payment?
A) credit memo
B) remittance advice
C) deposit slip
D) notice to the general ledger to record a cash receipt

Question

Quizplus · Accepted Answer

A remittance advice typically includes information about a customer payment, such as the amount and the invoice(s) being paid. This information would trigger the B/AR/CR process to record the payment in the accounting system. A credit memo would typically be recorded on the accounts receivable ledger, but may not necessarily result in a customer payment. A deposit slip is used to record cash and cheques received by a company, but may not include information about specific customer payments. A notice to the general ledger to record a cash receipt does not provide enough information about the customer payment to trigger the B/AR/CR process.

Which of the Following Normally Would Trigger the B/AR/CR Process