Lockbox Upload
The Lockbox Upload allows you to upload a Lockbox file from a bank into Kuali Financials. Lockbox is a service provided by a bank to streamline the payment processes of an institution. Essentially, a lockbox is a post office box that the bank establishes and controls for an institution. The customers send their payments directly to the lockbox. The bank opens all correspondence, deposits the checks into the designated accounts and provides daily reports of deposit information. The institution receives a single daily electronic file of all remittance detail. The institution imports this file to update its accounts receivable system.
For information
on procedures that apply to all Financials batch uploads, see Batch Upload Basics
.
When you select the Lockbox Upload option the system displays the Lockbox Upload document. This document allows you to upload flat files into Kuali Financials and will generate Cash Control/Payment Applications for each Lockbox included in the file. .
Lockbox Upload Format