AR Payment Processing is a two step process.
The Cash Application program is used to apply the individual customer payments to the open invoices for the customer. This step closes the invoices, records the payments, and posts the un-deposited customer payments to a cash clearing account.
The Deposit Management Program is used to deposit the total amount of the customer payments into your general ledger cash account and to remove the amount posted to the clearing account.
The following sections provide additional details about AR Payment Processing.