Implementing lockbox payment processing

  1. Select System Administrator > Setup > Company.
  2. Open the company record.
  3. Specify or verify the directory in the Inbound EDI field.
  4. Select Customer > Setup > Customer.
  5. Set up a new record for the fictitious customer.

    This customer is used to post unmatched payment transactions during the lockbox import/update.

  6. Select Customer > Setup > Lock Box.
  7. Click New.
  8. Specify the fictitious customer number in the Customer # field.

    This record is used during the import/update process to validate the lockbox transmission.

  9. Specify the first lockbox number in the Lock Box # field.
    This number is provided by your bank.
  10. Click Save.
  11. Optionally, set up a customer lock box record for each customer who makes payments to your lockbox. You can skip this step if you select Yes for the Create ARSL Records? option on the Customer Entry Lockbox Import Report.
  12. Select System Administrator > Administration > Administrator Options > Customers.
  13. In the Cash Receipts section, specify a value in the Discount Allowance in Days field.

    This is used to determine whether past due discounts should be applied during the import/update process.

  14. Specify a value in the Paid in Full Allowance Amount field.

    This tolerance is applied if Yes is selected in the Do Write Offs field in the Customer Entry Lockbox Import Report.

  15. Select System Administrator > Setup > Operator. Specify your operator ID or the R&D operator, depending on whether you want to define the AR Write Off GL account per operator. Optionally, create a company-wide setting.
  16. Verify that a GL account is set up for the AR Write Off account. This is used if these conditions are met:
    • Yes is selected in the Do Write Offs? field in the Customer Entry Lockbox Import Report
    • You specified a value in the Paid in Full Allowance in SA Administrator Options.
    Note: If you made arrangements with your bank to receive lockbox payments electronically, you can import lockbox data after you receive your first flat file.
  17. Optionally, select Customer > Entry > ARE Reports > Accounts Receivable - Lockbox Import and set up a stored report. Perform the import process at least once each day. After you have completed your initial implementation and testing of lockbox importing, run it as a stored report to expedite the process. Schedule the report to run when no one is posting cash receipts in Customer Cash Receipt Entry.
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