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Receivables - EBS (MOSC)

What is the business purpose of Receipt confirmation and Remittance?

Apr 10, 2018 6:56AM edited Apr 10, 2018 11:13AM in Receivables - EBS (MOSC) 2 commentsAnswered

As per my understanding:

Confirmed Receipt is when a customer has only communicated the transfer of funds (through check or bank transfer) to us.

Remitted Receipt is after we have received the check and sent it to the bank or bank has has received the instrument / bank transfer.

Cleared Receipt is when the check is cleared and amount is credited in our account.

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