What happens if there is missing information on a bank lockbox file?
When posting the lockbox file if the bank information or document number is not identified, then the funds will be posted to an unapplied cash account. Accounts Receivable Shared Services is responsible for researching the unapplied cash account and transferring the funds to either clear an open item or post to a customer’s account. Accounts Receivable Shared Services will contact the department and division to identify the item.
