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Escheatment Cash in Transit Report

in Payables, Payments & Cash Management 8 comments

Summary:

When a payment is put in Escheatment Initiated status, the payment is removed from Cash Management and no longer eligible for reconciling with bank transactions. However, the payment is not removed from the Cash in Transit report and no journal entry is created to DR cash back. Additionally, when the payment is finally Escheated, the payment still remains on the Cash in Transit report. Is this the intended functionality?

Content (please ensure you mask any confidential information):

At some point the payment should be removed from Cash in Transit as it will be removed from Cash Clearing once it is Escheated. How do we remove the payment from CIT report?

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