Final answer:
Deposit slips are generally generated as part of processing cash receipts in the B/AR/CR process, acting as proof of the transaction being recorded for the entity's financial records.
Step-by-step explanation:
Deposit slips are an integral part of the billing, accounts receivable, and cash receipts (B/AR/CR) process. These documents are used to ensure that the correct amount of money is being deposited into the appropriate bank account. In most accounting systems today, deposit slips are usually generated:
- As part of processing cash receipts: This is when the actual funds are received, and the deposit slip is prepared as a part of this transaction process to record the amount being deposited into the bank. It acts as a proof of the transaction for the entity's financial records.
Generating deposit slips electronically or by manual procedures occurs outside the context of the immediate invoicing process. Therefore, the correct choice relating to the B/AR/CR process is when processing cash receipts because this is when the funds are recorded and need to be deposited into the financial institution.