A. For standard remittances, Receivables updates the status of the bills receivable to Closed by running the Close Matured Bills Receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.

B. For bills receivables that are factored with recourse, the receipt is applied to short-term debt and the status of the bill is updated to Paid.

C. For factored remittances, receivables create a receipt when a remittance is submitted.

D. For bills receivables that are factored without recourse, the receipt is applied to the bills receivable upon remittance and the status of the bill is updated to Closed.

E. For factored remittances with the automatic clearing method, run the Automatic Clearing program to clear receipts on the receipt date plus the number of collection days.

F. For standard remittances, Receivables updates the status of the bills receivable to Remitted by running the Close Matured Bills Receivable program to create receipts and apply them to the bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever is later.