24 Process Automatic Receipts

This chapter contains the topic:

Section 24.1, "Processing Automatic Receipts."

24.1 Processing Automatic Receipts

Navigation

From Accounts Receivable (G03), choose Automatic Receipts Processing

From Automatic Receipts Processing (G0313), choose Load Bank Tape - Custom

You can process automatic receipts if you receive payments directly from a customer's bank on custom bank tapes (lock box). To automatically process and apply receipts to the customer accounts, you must load the receipt information from the bank tape to the Accounts Receivable system.

When you load the bank tape for receipts, the system:

Reads the magnetic tape from the bank
Creates a Bank Tape Worktable (F03551) to store the information from the tape
Converts the information in the worktable to the Batch A/R Cash Application file (F0312)

The following graphic illustrates how the system processes bank tape information.

Figure 24-1 Bank Tape Information Processing

Description of "Figure 24-1 Bank Tape Information Processing"

After the system converts the information in the worktable to the Batch A/R Cash Application file, it applies the receipts to the appropriate customer accounts in the A/R Ledger file (F0311). The system stores those items that it cannot process in the Batch A/R Cash Application Worktable until you rework and process them. The system then applies the reworked items to the A/R Ledger file.

24.1.1 Before You Begin

Set the appropriate processing options for the version you want to run. You must access the processing options from the menu before you choose the Load Bank Tape - Custom program. After you choose this program from the menu, you cannot change the processing options.
Ensure that the bank tape program is customized based on the information that is provided by your bank.
Activate Auto Cash on accounts receivable constants.
Ensure that the following information is set up in the customer master record for each customer eligible for bank tape processing:
- A bank transit account number, as well as an account number
- An auto receipt value
- An auto cash algorithm

24.1.2 What You Should Know About

Option	Explanation
Releasing the lock on the system	If you press exit at the Load the tape prompt, you lock the system to prevent further processing. To release the lock, choose 4 in the Option field and press Enter.

24.1.3 Processing Options

See Section 33.13, "Load Custom Bank Tape (P03551)."

24.1.3.1 What You Should Know About Processing Options

Option	Explanation
Journal entry creation	Do not enter detail and summary records in the same batch. Instead, create a separate batch for each type of record. The mode (detail or summary) in which you enter transactions from the bank tape affects later processing. When you process batch receipts, you must use the corresponding version (detail or summary) to process the batch. For example, if you enter receipts from the magnetic tape in summary mode, you must process them in summary mode. If you enter them in summary mode and then try to run the detail version when processing batch receipts for the same receipts, the system cannot process them.

Option

Explanation

Journal entry creation

Do not enter detail and summary records in the same batch. Instead, create a separate batch for each type of record. The mode (detail or summary) in which you enter transactions from the bank tape affects later processing.

When you process batch receipts, you must use the corresponding version (detail or summary) to process the batch. For example, if you enter receipts from the magnetic tape in summary mode, you must process them in summary mode. If you enter them in summary mode and then try to run the detail version when processing batch receipts for the same receipts, the system cannot process them.

24.1.4 Data Selection for Load Your Custom Bank Tape

The versions for the Load Your Custom Bank Tape program include the correct data selections. Do not change this information.