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Which of the following occurs when receivables matching is used in conjunction with consolidated remittance processing (CRP)?

A) Increased reconciliation errors and discrepancies

B) Slower processing times for receivables

C) Improved accuracy in matching payments to invoices

D) Decreased efficiency in consolidated remittance processing

User Jorj
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1 Answer

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Final answer:

Receivables matching with consolidated remittance processing results in improved accuracy for matching payments to invoices, benefiting the accounts receivable process.

Step-by-step explanation:

When receivables matching is used in conjunction with consolidated remittance processing (CRP), the outcome is typically C) Improved accuracy in matching payments to invoices. This accounting process involves aligning received payments with the corresponding invoices, ensuring that payments are accurately applied to the correct accounts. The consolidation aspect refers to combining multiple payment types or remittances into one process. Efficiently matching payments reduces reconciliation errors and enhances the efficiency of the accounts receivable management. Therefore, the correct answer isn't related to increased errors, slower processing, or decreased efficiency, but rather the exact opposite, demonstrating how proper usage of receivables matching in CRP can lead to a streamlined and accurate financial process.

User Dan Stahlke
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