Final answer:
The most efficient way to process customer payments and update accounts receivable is the ACH (Automated Clearing House) technique. ACH allows for batch processing of payments, reducing manual intervention and streamlining the payment process.
Step-by-step explanation:
The most efficient way to process customer payments and update accounts receivable is the ACH (Automated Clearing House) technique. ACH is an electronic payment network that enables the transfer of funds between bank accounts. It is commonly used for direct deposit of payroll, bill payments, and transferring funds between accounts.
ACH is more efficient than other techniques mentioned in the options because it allows for batch processing of payments, which means multiple payments can be processed at once. This reduces manual intervention and streamlines the payment process.
For example, if a company needs to process hundreds of customer payments, using ACH allows them to submit all the payment information in a single batch file, rather than manually entering each payment individually. This saves time, reduces the likelihood of errors, and improves overall efficiency.