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Lockbox Configuration In SAP

This document explain about step by step configuration and processes for SAP Lock Box functionality.
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SAP Lock Box

A company can create ‘lockbox’ accounts at a bank that are used as payment collection accounts for customer receivables.  The company informs its customers that all payments should be submitted to one of its established bank lockbox accounts at a designated remittance address.  A lockbox account is usually a designated post office box which has the company name but the customer payments are actually received by the bank.

SAP lockbox utilization results in two primary business benefits:  funds collection and remittance information delivery.  The major benefits are that the company is able to recognize the funds more quickly, and the customer’s check is cashed in a more timely manner.  The bank collects the payments along with the customers’ remittance information which indicates the open items the customer is paying.  Data entry clerks at the bank manually enter the information into an electronic file for transmission to the company in groups of checks called batches.

These electronic files are typically transferred nightly to the company which owns the lockbox. The files can be in one of two standard banking industry formats: BAI or BAI2.  They can also be transmitted via EDI using the ANSI X.12 823 for lockbox remittances.  A combination of the two is not uncommon where a BAI format is delivered within an EDI message.

Customer identification is the primary task of the initial (SAP) data processing of each lockbox payment.  Finding the corresponding document clearing information is the second task.  Lockbox programs RFEBLB00 for BAI and BAI2 formats and RFEBLB30 for EDI format attempt to identify the customer first by MICR number (ABA/bank account number combination) and then by invoice number.  It is strongly recommended that companies maintain the bank details on their customer master records.  The MICR numbers must be unique across banks configured within SAP.  Additionally, the MICR and customer account number also need to uniquely identify a single customer within the system.  If a customer is identified by the document number but the bank details do not correspond to the MICR number, they can be added via the optional batch input session.  This allows the SAP system to ‘learn’ customer bank accounts via repeated use of the lockbox service.  Processing statistics in future lockbox remittances will greatly improve with repeated use of this option.

This document explain about step by step configuration and processes for SAP Lock Box functionality.

Additional Info

Additional Info

SKU Code SEBK100190
Title SAP Lock Box Configuration Documents
Language English
Author SAP ebooks Team
Files Details 54 Pages , 1 File, 4 Formats
Format PDF, CHM,ePub, Mobi, ZIP
Size (Approx) 8.63 MB
Version | Date 01 JUN 2015, V 1.0
SAP Version ECC 6.0
Download as > Add to cart > Check out > Payment > Download
Disclaimer We are not linked with SAP AG or any of SAP subsidiary. Our documents are not SAP official education materials.


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