Import Lockbox

The Import Lockbox page allows authorized users to import a file containing payment transactions and create receipt transactions based on data contained in the transmittal file. The lockbox front end would handle all these possible forms of payment:

  • Traditional Lockbox – Returned mail is sent to a Post Office box and is collected by a bank. The bank deposits the payments and sends the municipality an electronic file with all the hard copy (e.g., utility bill stub) documentation. Payments that do not match the amount due on the stub or that are missing the payment stub are not processed.
  • In-House Lockbox – Same as above. The municipality does its own processing of the payments. They have equipment to process the payments that generate an electronic file that the system should be able to import.
  • Internet Payments – Payments made over the Internet where a 3rd party processes the payment and verifies the source of funds. On a daily basis they send the municipality a file of accounts and amounts processed.
  • Escrow Payments – Mortgage and Mortgage Service companies submit tax payments for properties on which they are withholding escrow dollars. Like the others, they submit an electronic file containing account and amount information that the system should be able to process.

The standard lockbox import file contains the following information in a flat file: Reference Number (e.g., utility management account number or miscellaneous billing invoice number), payment amount (numeric with two decimal places) and payment processed date. The New World ERP system third-party import utility supports an import of this type of transmittal file.

Setup

Before using the Import Lockbox feature, the lockbox virtual payment source must first be set up.

Process

To import a lockbox import file, follow the steps below:

Entries on this first frame allow you to select the batch criteria and any defaults or special conditions for the import file. Click here for more information:

  1. Go to Financial Management > Revenue Collections > Receipts. The first time you access the Batch List page after logging in, the Select a Collection Station pop-up window displays where you must select a collection station to use when processing receipts. Click OK.

  2. Click Lockbox.

Step 1

  1. Select a Payment Source from the drop-down. The lockboxes displayed are those defined under Maintenance > Revenue Collection > Virtual Payment Source. This field is required.
  2. Once a selection is made, the Department, User, Payment Code, and Collection Station are automatically populated. These are not editable fields. They are driven from the information entered on the Virtual Payment Source page.
  3. Click Browse to locate the lockbox file to be imported. This field is required.
  4. Select the Report Only check box if the information will generate a report only. The report can then be reviewed before importing the actual file, and changes to the import setting can be made if necessary.
  5. Select the Create Single Receipt if one receipt should be generated for all valid transactions in the lockbox import file. If new receipts should be created for each valid transaction in the lockbox import file, clear the check box.
  6. Select the G/L Date which is the date when the revenue collections posted to the general ledger are recorded. Today’s date is the default.
  7. Select the Payment Date, which is the date of the payment. Today’s date is the default.
  8. Select the Funds Pre-Deposited check box if funds for the transaction have been deposited. Transactions with pre-deposited funds do not appear on the Bank Deposit edit reports. This check box is not selected by default.
  9. In Override Cash Account select the Cash (debit) G/L account that will override all transactions in the batch. This override is used primarily with pre-deposited funds where the bank account containing the deposited funds is associated with a cash account that is different from the bank account where funds normally are deposited. For example, the city allows residents to pay their water bill at one of four banks in the city. The banks keep the deposited funds—pre-deposited funds. The city uses a different cash account in the general ledger for each bank account, one of which the city also uses for payments made at City Hall (mail and in person). The banks notify the city of payments received. When the payments are entered, the city would override the standard cash account with the cash account associated with the specific bank where the funds were collected and deposited.
  10. In Override Deposit Bank Account select the deposit bank account that will override all transactions in the batch. This override is used primarily with pre-deposited funds where the bank account containing the deposited funds is different from the bank account where funds normally are deposited. For example, the city allows residents to pay their water bill at one of four banks in the city. The banks keep the deposited funds—pre-deposited funds. The banks notify the city of payments received. When the payments are entered, the city would override the default transaction bank account with the specific bank account where the funds were collected and deposited.
  11. After completing the fields on this page, click Next.

Step 2

The second step of the Import Lockbox Wizard shows all transactions that will be imported.

  1. Click Finish to validate that at least one valid payment transaction exists. You will be taken to the Revenue Collections Batch List page.
See Also

Revenue Collections Overview

Import Revenue Collection Receipts

Third-Party Receivables