Importing Lockbox Data (SAP Library - Bank Accounting (FI-BL))

Importing Lockbox Data

Use

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

Procedure

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.