Description
Lockbox Service
Payment transactions in the USA are conducted almost exclusively bycheck. So that checks can be deposited more quickly, the banks offer a"lockbox service" whereby checks are sent directly from customer to thebank (lockbox). The bank credits the checks to the payee's account anduses file transfer to pass the information on to the payee.
Procedure
The bank sends a data carrier to the payee, sometimes several times aday, containing the most important information on the check (MICRnumber) and, where appropriate, the document numbers from the paymentmemo.
This data carrier is then used to generate postings for accountsreceivable and general ledger (G/L) accounting.
Advantages of the Lockbox Service

• Quicker check collection, depositing, and crediting means better
liquidity for payees.

• Payees need spend less time on processing payments.

When you use the IDOC interface, SAP Lockbox Processing is a three stepprocess.
Data is read in automatically and stored in the bank data.
You must then schedule program RFEBLB30 which processes the lockboxdata (by producing payment memos and postings, creating the check andposting logs, generating batch input for creating new bank details).
You can process the data further with transaction FLB1.
Customizing
Important Lockbox Processing Control Parameters
Here, you can maintain the parameters for the type of posting and theformat of the lockbox file. Choose "BDB" as the format here.
IF &DEVICE& = 'SCREEN'
Proceed
ENDIF
Customizing Entries for Posting Materials
For each lockbox, you stipulate which accounts are to be posted withwhick document types and posting keys. The key is the bank account ID(destination, origin) as supplied by the lockbox file.
IF &DEVICE& = 'SCREEN'
Proceed
ENDIF