What if you could cut in half-or virtually eliminate-the time it takes to post customer payments? By using lockbox services provided by your bank, you can streamline the process of receiving customer payments, allowing your company to:
In our webinar, we will show you how a lockbox processes regular bill payments received by mail, and how the bank collects, processes, and deposits receivables directly. All items collected during the business day are deposited on a same-day basis and are usually reported to you the very same day.
Then you will see how the Infor ERP SX.enterprise AR Lockbox module allows you to import lockbox data transmissions and update your Accounts Receivable and General Ledger records with customer payment transactions. Learn about the controls that allow for partial payments if customer pays less than expected-or suspend any payments that don't match per your specifications. You will also see how AR Lockbox provides functions to import, update, inquire upon, and report on lockbox transactions.
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