Five Cash Application Strategies for Accurate Period-End Close

Cash application process. Look for an invoice number or purchase order number that matches the one on the customer's check stub or backup. If the customer does not reference an invoice number or purchase order number, matching the cash with the invoice gets more difficult. The next area to check is the information on the check stub to see if it matches an open item on the account. If an exact dollar match is located, details on the check stub, such as reference numbers, may help to match…