Description of Issue

Lockbox payments are not using the chosen or selected interest effective date when they are import.

Context

Accounts Receivable
Process Lockbox File (arpmtimp)

Cause

The STANDARD PAYMENT RECORD File format is in use and Yes was selected to the The Standard file format may contain individual Interest Effective Dates for each payment entry. Do you wish to use these individual dates in place of the Interest Effective date shown on the screen when they exist? instead of No.

Resolution

When using the S - STANDARD PAYMENT RECORD as the File format the Process Lockbox program will always present this prompt when the define is accepted: The Standard file format may contain individual Interest Effective Dates for each payment entry. Do you wish to use these individual dates in place of the Interest Effective date shown on the screen when they exist?

Answering Yes to this prompt will cause the program to apply the payments in the file with the interest effective date specified for each payment. If an interest effective date is not specified for a payment in the file, the program will apply the payment using the Interest eff date selected on the Process Lockbox File define.

Answering No to this prompt will cause the program to apply all the payments in the file with the Interest eff date selected on the Process Lockbox File define.

If a file is accidentally imported with the wrong response to this prompt, it can be reversed in full using the Payment Batch Reversal process described here: Payment Batch Reversals

The file can be imported again with the correct response to this prompt once the previous batch is reversed.

Additional Information

For more information about about interest effective dates and AR dates, please see: An Explanation of Payment Entry Dates and Accounts Receivable Activity Dates
If additional assistance is needed, please reach out to the appropriate Accounts Receivable Support Team: How to determine the correct Accounts Receivable support team to assist with an issue

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