Unrecognized Payments

While receiving payments through Unrecognized Payments, if the entered account number does not exist, then the payment is treated as Unidentified Payment. Generally, the unidentified payments are received against the incorrect account numbers and maintained in a separate account called as Suspense Account. The payments received against the suspense account are treated as Suspense Payments.

Lockbox Inquiry screen helps you to retrieve all such suspense payment details. Later, the amount is identified and credited to the respective customer's account.

To retrieve suspense payment:

  1. On the Receivables module, click Unrecognized Payments.

  2. Select Bank Name and Payment Mode from the drop-down. Enter Record Reference Number, and Date Range. All the entered information are set as searching criteria.
    : The banks defined in Bank lookup code appear in the Bank Name drop-down.

  3. Click the Search button to retrieve the unidentified payments based on the given selection criteria.

  4. Once the payment is identified, click the View link against an account number under Action column to view the payment details in Lockbox Payment pop up window. The payment details such as Reference Number, Payment Mode, Collecting Entity, Book Number, Party ID, External Bank Name, Receipt Date, Payment Date, Amount, Notes, External Banks Code, and External Branch Name pertaining to the corresponding account are displayed in a separate pop up window. You can also view the check details like, Check Number, Check Date, Bank Name and Branch Name.

  5. Click the Edit link against the account number under Action column to navigate to Lockbox Correction screen where you can modify Party ID, External Bank Name and External Branch Name.

  6. Click the Save button to apply the modifications and credit the payment to the actual subscriber account.

  7. Click the Inquiry button to navigate to Unrecognized Payments screen again.