Accounts Receivable Menu -> Payments -> Bank-to-Bank Payments -> Import Lockbox Payments -> View Lockbox Payments
After the electronic data file from the bank has been imported
using Import Lockbox Payments, the
following information screen is displayed. Records can be deleted
to prevent further processing, but additional records cannot be
added.
Only the Division, Method of Payment, Currency, and the total
Payment Amounts, can be adjusted prior to posting to the customer's
account.
The prompts are:
Note: It is important to only include Customers with the same Currency as the pMethod Of Payment Code selected for the import also determines the currency of the payments.
Note: Trade Discounts are not respected using the Lockbox payment process, as they need to be reviewed manually to confirm the payment terms have been met.
To enhance processing efficiency, a Variance can be set by
customer to allow for a pre-determined over or under difference as
explained in Customer Lockbox
Variance.
Using a Variance prevents undue time and effort spent balancing
minimal over/short payment amounts.
To complete the Lockbox process, the payments can now be applied against the customers' invoices in the A/R sub-ledger using Apply Lockbox Payments.
Posting Control
The Bank-to-Bank Payments programs including Import Lockbox Payments, View Lockbox
Payments, and Apply Lockbox Payments
are designed to be run by one operator at a time.
If record locking is experienced using these Lockbox programs and
no other user is actually using them, refer to Reset Lockbox Payments for instructions on
resetting the control flags.
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