Apply Lockbox Payments

After the electronic data file from the bank has been imported using Import Lockbox Payments, and reviewed and accepted in View Lockbox Payments, this utility can be used to apply the payments against the customers' invoices in the A/R sub-ledger.
An "Apply Lockbox Payments" report is first generated by Batch code.
Any errors identified must be corrected and the report re-run. When the report is accepted the Lockbox portion of the payment process is complete, and the next Lockbox file can be imported.

Any variance short, is expensed in the General Ledger to the "Lock Box Variance Expense" account as setup for that currency in G/L Default Accounts. It is not reflected in the AR customer account.
Any variance overpayment is converted to a credit invoice for the customer.

Lockbox payments can then be viewed and modified in Customer Payments and if required can be reversed using Reverse Customer Payments.

Select Post Customer Payments to post the payments to the General Ledger.

Posting Control
The Bank-to-Bank Payments programs including Import Lockbox Payments, View Lockbox Payments, and Apply Lockbox Payments are designed to be run by one operator at a time.
If record locking is experienced using these Lockbox programs and no other user is actually using them, refer to Reset Lockbox Payments for instructions on resetting the control flags.