what does this accounting preference do Apply Payments Without Invoice Numbers

AI generated answer (using internal Slack threads):

The 'Apply Payments Without Invoice Numbers' preference in NetSuite's accounting settings allows you to apply payments to invoices even if the invoice numbers are not provided. This can be useful in scenarios where you receive payments from customers but do not have the corresponding invoice numbers at hand. When this preference is enabled, you can apply the payment to the customer's account and it will be applied to the oldest invoice(s) first, until the payment amount is fully utilized. This can help in maintaining accurate accounts receivable balances and ensuring that payments are not left unapplied. However, it's important to note that using this preference may not be suitable for all businesses, especially those that require strict matching of payments with specific invoices for accurate tracking and reporting. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******