Receivables & Collections

Get Involved. Join the Conversation.


    Amber St John
    Negative Cash Receipts (Returned items)
    Topic posted May 14, 2019 by Amber St JohnRed Ribbon: 250+ Points, tagged Collections, Financials, Receivables 
    70 Views, 3 Comments
    Negative Cash Receipts (Returned items)
    Lockbox functionality for Negative Cash Receipts

    Version: Fusion

    Accounts Receivable Module:

    When using Lockbox as the “only” interface for bulk uploads of Cash Receipts, we have been informed there is no functionality to upload “negative” cash receipts.  Where this may be a limited number of transactions for some companies, we outsource our billings and collections and therefore, have a higher quantity of “negative” receipts to capture in the system in order to stay in sync with our servicer.  For example, any returned items (ACH rejects), re-application of payments etc. reported to us from our third party servicer would have to be updated manually one by one in the system based on our current recommended solution.  This has scalability concerns as well as risk to rely on manual process to update our ERP system.  How do companies handle high volume negative receipts in a more automated process?