Accounts Receivable Payment Processing How to Process a Lockbox Payment File
How to Process a Lockbox Payment File (continued)
8. The electronic lockbox file information will fill into the grid area of the Import LockBox File form. At the lower left of the form displays the count of valid customer numbers within the file. If all customers are valid, press the Post button located at the lower right of this form. The posting process creates the individual payment records for the batch.
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If there are any records with invalid customers, the User has a few choices in handling exceptions:
· Post the batch which will only include the payment rows where the customer information is valid.
· Stop and research the unknown customer payment records then make the necessary corrections once the correct information is located.
· Change the Unknown customers to your Cash Account customer number, post the payment batch then research the errors at a later time. Once the valid customer number is identified, the payment may be transferred from the Cash customer to the correct customer account.
Follow the link for information on Handling Invalid Records.