If you are using a lockbox service to improve your cashflow by collecting checks from your customers, LockBox Processing will help you by processing the electronic file that you receive from your bank. Where included remittance information is complete, cash receipts will be automatically applied to invoices. For those cash receipts where the matching document is questionable, use the payment application workbench to match the cash receipt to the appropriate invoice. In any case, since you don’t have to enter each of the transactions individually, you will save time and money through better efficiency and security.
LockBox Processing is great for high-volume cash receipts, where you want to outsource the processing of your cash receipts.
Use LockBox Processing’s Payment Application Workbench to facilitate the application of cash receipts to their respective A/R documents.
LockBox’s many advanced features include: splitting checks across multiple SL customers, multi-currency applications, duplicate check number checking, credit memo support, and more.
LockBox Processing features:
- Seamless integration with Microsoft Dynamics SL Accounts Receivable
- Automatic payment application with conflict resolution (Workbench)
- Discount and Credit Memo support
- Default methods applied by Customer
- Duplicate check number inspection
- Single check paying multiple SL customers
- Custom import formats – mapping utility
- Fixed field, tab, comma delimited and multi-line file support
- BAI2 file support
- Multi-company / multi-account
- Flexible communications
- File archiving
- eBanking Security to control access