Receiving customer payments
As part of its normal business operations, an organization regularly receives payments from its customers. PeopleSoft AR offers multiple methods to receive payments. Payment methods can be broadly categorized into manual and electronic (automated). We'll discuss these in the following sections.
Entering payments manually
Just as we saw that a pending item must be a part of item group, customer payments also need to be a part of payment group, known as Deposit. A deposit can contain multiple payments or a single payment. In PeopleSoft parlance, we can enter two types of deposits manually: Regular deposits and Express deposits. Which type of deposit is used depends on the amount of information we have for the received payment. ...
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