Reference: Customer Payment Process Flows and Account Posting Rules
In Workday, you can record payments, apply payments, and deposit them either in a
single step or individually. The scenarios in this table demonstrate the ways to
approach customer payments along with the corresponding account posting rules.
Scenario | Step | Debit | Credit |
|---|---|---|---|
Process each of these transactions separately in the specified order:
| Record Payment. | N/A | N/A |
Apply Payment. | Undeposited Receipts | Receivables | |
Create Deposit. | Cash | Undeposited Receipts | |
Process each of these transactions separately in the specified order:
| Record Payment. | N/A | N/A |
Create Deposit. | Cash | Unapplied Recorded Payments | |
Apply Payment. | Unapplied Recorded Payments | Receivables | |
Record and apply the payment in the same step. Then create deposit
later. | Record and Apply Payment. | Undeposited Receipts | Receivables |
Create Deposit. | Cash | Undeposited Receipts | |
Record the payment, create a deposit, and apply the payment in same
single step. | Record, Deposit, and Apply. | Cash | Receivables |