‘Lockbox’ processing (CONFIGURED in the FR-TR MODULE) of incoming payments is USED predominantly in the United States. Here, the bank receives the checks from customers as incoming payments, creates payment advice for each of these customer CHECK payments, and informs the PAYEE of the payment, in BAI file format. This lock box file is sent to the payee who imports the details into the system using this electronic file. The system updates the payments into the GL by way of ‘batch input’ processing.

‘Lockbox’ processing (configured in the FR-TR module) of incoming payments is used predominantly in the United States. Here, the bank receives the checks from customers as incoming payments, creates payment advice for each of these customer check payments, and informs the payee of the payment, in BAI file format. This lock box file is sent to the payee who imports the details into the system using this electronic file. The system updates the payments into the GL by way of ‘batch input’ processing.