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What is the flow of lock box processing?

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Lockboxes are a procedure used mainly in the USA to enable checks to be deposited more quickly. The checks the bank sends to you are entered as credits by the bank, and the information entered is sent to the payee using File Transfer. The lockbox files must be formatted per the BAI standard format.

Under certain circumstances, the bank transmits a data carrier to the payee several times a day; the carrier bears the important check information.

From this data carrier, postings are then generated for accounts receivable and G/L accounting.

Lockbox service has the following advantages for the payee:

- Better liquidity, thanks to faster collection, depositing, and crediting of checks.
- Reduced processing workload

To import lockbox data, proceed as follows:
Choose Incomings -> Lockbox -> Import.
You reach the initial screen.
Specify the path and file name of the lockbox file. 
Specify the import options. 
Choose Program -> Execute.

From the SAP Easy Access Screen select Accounting -> Treasury -> Cash Management -> Incomings -> Lockbox -> Postprocess or Accounting -> Banking -> Incomings -> Lockbox -> Postprocess.

Enter the required data and choose Execute.

The selected lockbox data is displayed in a hierarchy. The icons in front of each line show the status of the check. The following are possible status entries:
- Posted
- Posted on account
- Partially applied
- Not posted

Proceed as follows to display the check status:
a. Choose View -> Other Display
The screen for displaying lists appears.

b. Click on the ALV icon Layout settings and choose Change layout.

c. Select the Check Status field in the dialog window under Column List.

d. If you want to use the field in the column list, click on the left arrow and choose Copy.
The system displays the check status.

Edit Payment Advice 

In order to edit the payment advice, double-click on the Payment Advice field in the list display. Change the data you want to correct, save and choose Back.

If you want to change the account or account type, show the Account and Account Type fields as described for the Check Status field. Both fields are shown in the list display and you can change them directly. Choose Enter to save the changed data.

If you want to ensure that your changes have been saved, double-click on the Payment Advice field and choose Payment Advice -> Header.

Choose Checks -> Post to resume the automatic posting of changed checks.

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