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Process Tracking Solution for Accounts Receivable Lockbox: Manage your Lockbox Process Easily and Effectively
Many organizations with large volumes of incoming checks use bank lockboxes. An all too common challenge for Accounts Receivable centers is resolving exceptions – deductions and short pays, for example – that occur when the amount of a remittance check is not directly applicable to an open invoice or group of invoices.
SAP handling can apply customer payments against open invoices but it cannot handle these exceptions. There is no means or visibility to track and view the payment application and check and remittance documents throughout the process.
This paper describes how the Dolphin Lockbox solution streamlines the exception handling process and allows you to increase productivity and reduce costs while leveraging your SAP investment. Continue reading to learn how to manage your lockbox process easily and effectively.