Know 15 important things before you can do Auto lockbox setting

Posted on June 29th, 2008 by Sanjit Anand | Print This Post | Email This Post

Auto lockbox Implementation been never been an easy task. Though it requires own set up to handle this functionality. Therefore Its is very important to understand some key points before implementing LockBox in Oracle.

1. How are you identifying the customer against which you apply the receipts? Are you using Auto associate, Customer Number or MICR number?
2. What do you have for the Match Receipts “By option” in Lockbox? Is this by Customer Bill-to-Site, Customer or Lockbox?
3. What do you have for Allow Payment of Unrelated Transactions when you submit lockbox and at the system level?
4. Do you Require Billing Location?
5. What do you have for Auto cash Rules?
6. What do you have for Remaining Remittance Amount? Do you want this as unapplied or Onaccount ?
7. Do you Apply Partial Receipts?
8. What do you have for Remainder Rule Set? How the setup is done ? Is it at customer site or customer profile level?
9. What do you have for Allow Payment of Unrelated Transactions?
10. Do you use Autoassociate?
11. What do you have for Invalid Transaction Number Handling? This mean how post partial amount as unapplied or you want reject entire receipt?
12. Are you expecting Miscellaneous Receipt through AutoLockbox?
13. Is customer expecting some Refunds with negative amount for returns to handled through Lockbox?
14. Is customer expecting any adjustment through Lockbox?
15. Are you using Lockbox standard format or have a different format? If not using standard format do you have details for transmission line details?

If you have already some more items need to be added, do share your experiences.:)

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