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Lock Box

Former Member
0 Kudos

Hi,

What is lock box ? what is the need for lock box ?

Thanks & regards

Kiran

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hi,

Lock Box is a collection process followed in US. The Customers send their payments to the Banks directly, wherein the Bank will update the details such as cheque number, amount and Invoice number and send it to the Company as a flat file which will be in BAI or BAI2 format.

When we load this file in SAP, the system traces the customer number through the Invoice number and processes the payment and clears the Outstanding automatically. When it couldnot find the invoice number then it can either be posted as On account or it gets recorded in the failed upload log, so that we can do further processing of the same.

Hope this info helps.

Award points if helpful.

Regards,

Venkat

Answers (1)

Answers (1)

former_member348872
Active Contributor
0 Kudos

Check this URL

[Lockbox|http://help.sap.com/erp2005_ehp_03/helpdata/EN/57/f1fc3768b56d00e10000009b38f842/frameset.htm]