CTI0100BankOfAmericaLockboxJobAid.pdf | Cheque

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Job Aid Bank of America Lockbox Job Aid COMMON SCENARIOS FOR THE BANK OF AMERICA LOCKBOX Each business day CRU should confirm that the Bank of America lockbox file loaded successfully to SAP and to ensure that incoming payments have been cleared. The majority of the bank file line items will be cleared and will show a status of “Applied.” No further processing is requir
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   Page 1  of 10   Bank of America Lockbox Job Aid   Job Aid   COMMON SCENARIOS FOR THE BANK OF AMERICA LOCKBOX Each business day CRU should confirm that the Bank of America lockbox file loaded successfully to SAP and to ensure that incoming payments have been cleared. The majority of the bank file line items will be cleared and will show a status of “Applied.” No further processing is required for these items.  If a bank file line item does not clear successfully it will be in one of the following two statuses:   On account  –  The payment was applied to a customer account but did not clear against an invoice. This will occur if the invoice number in the bank file matches the customer invoice number in SAP but the amounts differ and exceed the tolerance threshold of 1%.   Unprocessed  –  SAP did not recognize the customer invoice number in the bank file and the credit to the cash clearing account remains open. To monitor lockbox activity for items that have not been applied successfully use the Payment Advice Overview  transaction. 1. Select the menu path  Accts Recv    Manage Information    Payment Advice Overview  . 2. Enter “1000” in the Company Code  field. 3. In the Created on  fields enter a date range covering the previous business day and today. 4. Click .   Page 2  of 10   Bank of America Lockbox Job Aid   Job Aid   5. If all lockbox items have been applied successfully the report will display the message “List contains no data.”  6. If any items have not been applied they will show up on the report screen. a. Items that are “On account” will display the customer number in the Account  column. b. Items that are “Unprocessed” will display an asterisk in the Account  column. 7. To apply these items you will need to use the Post Process Lockbox  transaction.   Page 3  of 10   Bank of America Lockbox Job Aid   Job Aid   POST PROCESS LOCKBOX TRANSACTION 1.   Run the Post Process Lockbox  transaction select the menu path  Accts Recv/Cash Mgmt    Period End Closing    Post Process Lockbox  .  2.   On the Postprocessing Lockbox Data  screen click .   3. A pop-up window will appear. Double click on the date of the lockbox file you wish to view. 4. A summary of the lockbox data will appear on the Lockbox Data Overview   screen. Double click on the number in the “Checks” column  to display a detailed view of the lockbox data.   Page 4  of 10   Bank of America Lockbox Job Aid   Job Aid   Use the instructions below to resolve line items that have a status of “On account” or “Unprocessed.”   ON ACCOUNT On the Lockbox Data Overview   screen items with the status of “On account”  include the customer account number. You will need to research the customer account using the Display Customer Line Items  transaction to determine the invoice number that this item will be cleared against. 1. Run the Display Customer Line Items  transaction and display open items for the customer. 2. Locate the payment document as well as the invoice document that the payment should clear. a.  An invoice document starts with “27” and its document type is DR  b.  A payment document starts with “28” and its document type is D Z 3. Note the invoice document number. You will use this number in the clearing transaction. 4. Return to the Lockbox Data Overview   screen. 5. Double click on the lockbox line item that you will clear against the customer invoice.
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