If payments are made through banks, then those payment details can be uploaded into the system through Lockbox Payment process.
The lockbox payment details are entered in a .csv file, verified and then uploaded in bulk. In the file format the header section contains fields like, Party ID, Debit Instrument, Payment Date, Book No, Receipt No, Receipt Date, Amount Paid, Remarks, External Entity Code, External Entity Name, External Branch Name, Record Reference No, and Payment Mode. The details section contains fields like, Instrument Number, Instrument Date, Bank Name, and Branch Name. The details section is required only for the check pay mode.
While uploading the file if any record fails, a log file is generated with error code and the process continues. If the process becomes successful for all records, then system displays a success message.
If entered Party ID does not exist then the payment is treated as Unidentified Payment. Such unidentified payments are moved into Suspense Account and those are treated as Suspense Payments. (Refer Lockbox Inquiry screen). Later, on identification the amount is credited to the respective customer's account by modifying the account number in Lockbox Inquiry screen.
Refer sample upload document LockBoxPayment.xls for more details.