The "Accept Customer Payment" transaction in NetSuite records the receipt of funds from a customer. From an accounting standpoint, this transaction creates a journal entry that debits either the Undeposited Funds account or a specific bank account, and credits the Accounts Receivable (A/R) account. This credit to A/R directly reduces, or offsets, the outstanding balance that was created by the original invoice(s). This process accurately reflects that the customer has settled their debt and is a fundamental principle of double-entry accounting for receivables.

B. NetSuite allows a single payment to be applied to multiple invoices, or multiple partial payments to a single invoice. A strict 1:1 match is not a system requirement.

C. NetSuite has native functionality for processing credit card payments through integration with various payment gateways. The Electronic Bank Payments SuiteApp is for other formats like EFT/ACH.

D. Using the Undeposited Funds account is a standard best practice for all payment types, including credit cards, to accurately group payments for easier bank deposit reconciliation.

1. Oracle NetSuite Help Center

SuiteAnswers ID: 9913

"Customer Payments." This document describes the general ledger impact of a customer payment

stating: "When you save a customer payment

a credit is posted to your accounts receivable account and a debit is posted to either the Undeposited Funds account or a bank account." This directly supports the offsetting nature of the payment as described in option A.

2. Oracle NetSuite Help Center

SuiteAnswers ID: 10048

"Applying a Customer Payment." This guide details the procedure for applying payments and explicitly shows how "you can apply a single payment to multiple invoices." This directly refutes the 1:1 matching claim in option B.

3. Oracle NetSuite Help Center

SuiteAnswers ID: 9995

"Credit Card Processing." This article outlines NetSuite's built-in capabilities for handling credit card transactions

which function independently of the Electronic Bank Payments SuiteApp

making option C incorrect.

4. Oracle NetSuite Help Center

SuiteAnswers ID: 8525

"Using the Undeposited Funds Account." This document explains the purpose of the Undeposited Funds account is to hold payments before they are deposited to simplify bank reconciliation. This practice is crucial for credit card batch settlements

contradicting the assertion in option D.