Differentiate between unidentified receipt, unapplied receipts and on account receipts? : oracle accounts receivable
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Answer Posted / Murli Kumar Mishra
1. Unidentified Receipt: These are payments received without corresponding invoices or customer accounts. They need to be matched with an open invoice or allocated to a specific customer.n
2. Unapplied Receipts: These are payments that have been applied but not yet allocated to their respective invoices or customers. This can occur when a single payment covers multiple outstanding invoices.n
3. On Account Receipt: These are payments made by customers against their open, outstanding invoices.
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