Remittance Methods and Clearance Methods

Define a remittance method and clearance method for each receipt class. These settings determine the remittance and clearing behavior for receipts with a given receipt class.

Remittance Methods

Use the remittance method to determine the accounts to use for receipts that you create using the receipt method assigned to this receipt class.

Standard

Use the remittance account for automatic receipts assigned to a receipt method with this receipt class.

Factoring

Use the factoring account for automatic receipts assigned to a receipt method with this receipt class.

Standard and Factoring

Receivables selects receipts assigned to this receipt class for remittance regardless of the batch remittance method. In this case, you can specify either of these remittance methods when creating your remittance batches.

No Remittance

For Manual receipts only. Remittance isn’t required for manual receipts assigned to this receipt class.

Clearance Methods

Use the clearance method to require receipts created using a receipt method assigned to this receipt class to be reconciled before posting them to the general ledger cash account.

Directly

This method is for receipts that you don't expect to be remitted to the bank and subsequently cleared.

It’s assumed that these receipts are cleared at the time of receipt entry and require no further processing.

By Automatic Clearing

Use this method to clear receipts using the Clear Receipts Automatically program.

Note: You can also clear receipts using this method in Cash Management.

By Matching

Use this method to clear receipts manually in Cash Management.