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XYZ company received payment from a customer, but does not know which customer it is from. What should they do with the payment?

  1. A. Use it On Account

  2. B. Leave as applied

  3. C. Leave as unidentified

  4. D. Use it with mass apply
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

When a payment is received without identifying the customer, it should be left as 'unidentified' until the customer can be determined. 'On Account' is used when the customer is known but specific invoices aren't. 'Leave as applied' is incorrect because the payment hasn't been applied, and 'mass apply' requires known customer association.

AI explanation

When a payment arrives and the customer cannot be identified, Oracle Receivables requires it to be entered as an unidentified receipt. This distinguishes it from an unapplied receipt (customer known, invoice unknown) or on-account use (customer known, amount simply held), and prevents the company from misapplying cash to the wrong account before the customer is confirmed.

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