The system will not let you post the batch on the Batch Control screen.1. Deferred posting batches should always be used for check payments.
2. It is recommended that deferred posting batches be used for credit payments received in the mail or through fax.
3. Direct posting batches should only be used for credit card orders received over the phone.
4. When entering lockbox data manually as deferred batches, the credit card batches should be entered as already settled.
5. The batch control date should match the deposit date. There will probably be multiple batches with the same deposit date.
6. Before a batch is posted, the Receipt Journal report (FAR502) can be run to view payments in the batch or the Batch Receipt Review tab on the Batch Control screen can be used. If FAR502 is run, it will not contain the GL distribution for deferred posting batches at this time.
7. FAR502 should be run after posting to provide the GL distribution. Totals should be tied to the deposit ticket and/or credit card settlement report.
8. Run FAR502 setup, Receipt Journal for a Specific Batch, FAR502_B.
9. Normally, report, deposit ticket, and supporting documentation will be filed together.
10. An e-Business batch is automatically created by the system if one does not exist.
a. The current day is used as the batch date.
b. The batch must be manually posted.
Select the Post the Batch task on the Lockbox Processing and Error Correction screen.
The system will not let you post the batch on the Batch Control screen.
See Also:
· Overview: Accounting Best Practices
· Daily Financial Reporting Best Practices
· Weekly Financial Reporting Best Practices
· Financial Data Entry Best Practices
· Batch Creation Best Practices