Lock Box

Extend the functionality of your
MaxQ Advanced Cash Application

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What is Lock Box?

The Batch Import/Lockbox Processing allows for the import of payment information received in any format from a trading partner or financial institution. Validated data is processed to create an ACA (Advanced Cash Application) batch. MaxQ Technologies will map the data you receive into the ACA import format or you can format your data into our format.
 
Lock box is an add-on for our module Advanced Cash Application.
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Key Benefits

  • Ability to create customer groups for cross customer payments.
  • Support unlimited number of bank accounts
  • Converts trading partner specific adjustment reason codes to Advanced Cash deduction codes.
  • Eliminates manual entry of payments into Advanced Cash Application.
  • Converts valid EDI remittances to Advanced Cash Application batches.
  • Automatically processes high volume remittances.
  • Allows the correction and resubmission of EDI Remittance batches.
  • Quick entry and correction
  • Eliminates manual entry of payments into Advanced Cash Application
  • Supports data in virtually any input format
  • Post cash as on account or cash can be applied to an invoice when possible

Features and Functionality

  • Supports multiple payment types and supporting details within batches that are translated to AR payment and document types
  • Allows each trading partner to have a unique mapping if required
  • Each mapping can specify the cash account/subaccount to use for payments
  • Payment information (check number, customer, invoice/memo number, amount, etc.) is imported and validated
  • Multiple alternate customer keys are used to translate the payment remitter information into your customer ID
  • Multiple search algorithms are used to find the customer and the invoice/memo
  • Accepted data is used to create an ACA batch for subsequent processing
  • Users can change and/or insert the correct data before creating the ACA batch

Lock Box is an ACA Add-on

Advanced Cash Application (ACA) eliminates the cumbersome steps needed to apply and post cash in the Microsoft Dynamics SL Account, streamlining and simplifying the payment application process. ACA simplifies payment application processes, such as charge-backs, multiple write-offs, check level deductions and more, providing accurate receivables reporting and detailed cash application—all from one screen. 

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If you have any questions, please contact us today.

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