Difference between revisions of "Lockbox Batch Details"

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This screen is a grid showing the details of a [[Payemnts Lockbox|lockbox batch]].  It would display each payment item from a lockbox batch, including the amount, amounts applied, and status.  Below each payment item are the payment item details, which are the applications of the payment to customers and invoices.  These lines would show the customer and invoice IDs, the amount of the corresponding invoice in opentaps, the amount to apply, a cash discount if there is one, and the status of the line.  It will also show the customer name, if the customer ID entered by the bank matches a party ID of a customer in opentaps.
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___TOC___
  
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On the screen, you can do one of two things:
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===To Access Lockboxes Screens===
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# Enter an amount to apply to an invoice shown on the lockbox payment item detail, if you wish to apply the lockbox payment to an invoice already created.
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Begin by accessing this Manual page and the '''opentaps''' screen, [[Manage Lockbox Batches]].  
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# Click on the + to add a new detail line, so that you can enter your only invoice and customer number and apply the lockbox payment to it.  On these lines, you can enter the customer ID and the invoice ID from opentaps.
 
  
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You are not allowed to modify any data supplied to you from the original bank lockbox file, including the amounts of the payments or the invoices and customers.  Therefore, if the original bank customer ID does not match an opentaps party ID, simply skip it by not applying any of it to that line and add a new line with the correct invoice ID and party ID.
 
  
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Finally, if you wish to apply a discount to reconcile the difference between the invoice amount and payment amount, enter it in the "Discount" column.
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===The Lockbox Details Display===
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This screen is a grid showing the details of a [[Payments Lockbox|lockbox batch]].  It displays the details of each payment item in the lockbox batch, including:
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* the amount of payment, and  
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* application details for the amount,  
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* and status.
  
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When you are finished processing a payment item, click on the check mark to set it to ready.  This will cause the system to check that the customer party ID and invoice IDs are correct.  If they are, the system will create a payment, apply it to your invoices, and set the payment to received so that it is posted to the general ledger.  At this time, the lockbox payment item will also be set to "Ready," so that it no longer can be edited or applied.  The outstanding amount of the lockbox batch will be decreased by the amount of the payment item.
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These payment item details display the applications of the payment to customers and invoices including:
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* the '''customer ID and invoice IDs''',
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** the '''customer name''', if the customer ID entered by the bank matches an '''opentaps''' party ID of a customer
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* the '''amount of the corresponding invoice''' in '''opentaps''',  
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* the '''amount to apply''' to those invoices,
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* any '''cash discount''' if there is one, and  
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* the '''status of the line'''.  .
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 +
 
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===Making the Lockbox Line Item Entries===
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On the screen, you can do one of three things:
 +
 
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# '''Enter an amount to apply''' (and cash discount if any) to an invoice shown on the lockbox payment item detail (marked AL), if you wish to apply the lockbox payment to an invoice already created.
 +
# '''Add a new detail line''', so that you can:
 +
#* '''Apply an amount''' and cash discount to another existing Invoice ID.
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#* '''Apply an amount to a Customer Billing Account'''.
 +
# '''Process the items that are marked as Ready'''
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===Correcting Errors in the Lockbox Items===
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You are not allowed to modify any data supplied to you from the original bank lockbox file, including the amounts of the payments or the invoices and customers.
 +
 
 +
====Party ID or Invoice ID Does Not Match====
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If the original bank Customer ID does not match an '''opentaps''' Party ID, take the following actions:
 +
 
 +
* Simply skip the detail line that is in error, by not applying any of the payment amount to that line, and
 +
* Add a new line with the correct Invoice ID and Party ID.
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* Apply the correct amount of the payment to this new entry.
 +
 
 +
 
 +
====Correcting Payment Versus Invoice Amounts====
 +
Finally, if you wish to reconcile the difference between the Invoice Amount and Payment A
 +
 
 +
* Enter a corrective amount, in the "Cash Discount" column.
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** Enter a positive amount here for the cash discount, which reduces the amount of the Invoice, or
 +
** Enter a negative amount here for the cash discount, if the payment amount is too large.   
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*** For example, enter "2" if you are giving the customer a cash discount of $2, but "-2" if the customer overpaid by $2. 
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'''Note:''' Accounting for the Cash Discount
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When you add a cash discount to a lockbox payment, if the cash discount is a positive amount which reduces the value of the invoice, then it is entered as an [[Managing_Invoices_and_Payments#Invoice_Adjustments|invoice adjustment]] of the opposite sign. 
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If the cash discount is a negative amount, then it reduces the value of the payment, and it will be applied directly to the GL.  The invoice would not be modified.
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 +
 
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===Processing the Lockbox Items===
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When you are finished applying details,
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Click: on the "Process Items" column to mark only the items that should be
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    processed and completed.   
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This will create payments and payment applications accordingly. Only the lockbox items marked as Ready will be processed this way, and the amount processed will be subtracted from the outstanding amount of the Lockbox Batch.
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Items applied to an invoice will create a Payment, and if a cash discount should be applied an invoice Adjustment will be made.
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Items that are applied to a Customer Billing Account will only create a Payment from this customer.

Latest revision as of 19:23, 15 September 2010

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To Access Lockboxes Screens

Begin by accessing this Manual page and the opentaps screen, Manage Lockbox Batches.


The Lockbox Details Display

This screen is a grid showing the details of a lockbox batch. It displays the details of each payment item in the lockbox batch, including:

  • the amount of payment, and
  • application details for the amount,
  • and status.

These payment item details display the applications of the payment to customers and invoices including:

  • the customer ID and invoice IDs,
    • the customer name, if the customer ID entered by the bank matches an opentaps party ID of a customer
  • the amount of the corresponding invoice in opentaps,
  • the amount to apply to those invoices,
  • any cash discount if there is one, and
  • the status of the line. .


Making the Lockbox Line Item Entries

On the screen, you can do one of three things:

  1. Enter an amount to apply (and cash discount if any) to an invoice shown on the lockbox payment item detail (marked AL), if you wish to apply the lockbox payment to an invoice already created.
  2. Add a new detail line, so that you can:
    • Apply an amount and cash discount to another existing Invoice ID.
    • Apply an amount to a Customer Billing Account.
  3. Process the items that are marked as Ready

Correcting Errors in the Lockbox Items

You are not allowed to modify any data supplied to you from the original bank lockbox file, including the amounts of the payments or the invoices and customers.

Party ID or Invoice ID Does Not Match

If the original bank Customer ID does not match an opentaps Party ID, take the following actions:

  • Simply skip the detail line that is in error, by not applying any of the payment amount to that line, and
  • Add a new line with the correct Invoice ID and Party ID.
  • Apply the correct amount of the payment to this new entry.


Correcting Payment Versus Invoice Amounts

Finally, if you wish to reconcile the difference between the Invoice Amount and Payment A

  • Enter a corrective amount, in the "Cash Discount" column.
    • Enter a positive amount here for the cash discount, which reduces the amount of the Invoice, or
    • Enter a negative amount here for the cash discount, if the payment amount is too large.
      • For example, enter "2" if you are giving the customer a cash discount of $2, but "-2" if the customer overpaid by $2.

Note: Accounting for the Cash Discount

When you add a cash discount to a lockbox payment, if the cash discount is a positive amount which reduces the value of the invoice, then it is entered as an invoice adjustment of the opposite sign.

If the cash discount is a negative amount, then it reduces the value of the payment, and it will be applied directly to the GL. The invoice would not be modified.


Processing the Lockbox Items

When you are finished applying details, 

Click: on the "Process Items" column to mark only the items that should be
    processed and completed.

This will create payments and payment applications accordingly. Only the lockbox items marked as Ready will be processed this way, and the amount processed will be subtracted from the outstanding amount of the Lockbox Batch.

Items applied to an invoice will create a Payment, and if a cash discount should be applied an invoice Adjustment will be made.

Items that are applied to a Customer Billing Account will only create a Payment from this customer.

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