Negative Cash Receipts (Returned items)

Summary

Lockbox functionality for Negative Cash Receipts

Content

Version: Fusion 11.13.19.01.0

Accounts Receivable Module:

When using Lockbox as the “only” interface for bulk uploads of Cash Receipts, we have been informed there is no functionality to upload “negative” cash receipts.  Where this may be a limited number of transactions for some companies, we outsource our billings and collections and therefore, have a higher quantity of “negative” receipts to capture in the system in order to stay in sync with our servicer.  For example, any returned items (ACH rejects), re-application of payments etc. reported to us from our third party servicer would have to be updated manually one by one in the system based on