Home
>
Software
>
Microsoft Great Plains Implementation for Midsize & Large Corporation: Lockbox Processing

Microsoft Great Plains Implementation for Midsize & Large Corporation: Lockbox Processing

Microsoft Great Plains is now targeting large and midsize businesses and being matured ERP has advanced, but still very simple in use modules and features: Lockbox Processing for Accounts Receivables, Customer/Vendor Consolidation, Multicurrency etc. We'll try to cover these features in the series of small articles to help decision maker and end user understand the feature and how does it work to make a decision to purchase additional nice modules. In our opinion large corporation, which had to use ERP with rich functionality in the past, doesn't have to do it in our new time. There are few reasons to switch to cheaper ERP, the most important are: database platform reliability improvement ? nowadays MS SQL Server does excellent job and has most of the former instability and maintenance issues resolved. The second reason ? MS Windows server is now close to be considered as a solid rock and you do not have to reboot it on the regular basis to fix all the types of "memory leaks", etc. OK, lets review Lockbox processing:

? Customer Matching. This is rather the question about generic lockbox application ? which basically imports text file, received from your bank and matches them with customer invoices, debit memos and miscellaneous charges. The question typically sounds like this ? in our Great Plains CustomerID is different from bank customer ID. This is right, but each check has Bank Account Number and Bank Routine Number, identifying the customer, all you need to do is ? carefully review first processing and enter this customer info, or open it here: Cards>>Sales>>Lockbox Bank Details ? and next time you get check from this customer ? lockbox will catch and identify it. This is true even in the case of hand written check.

? Invoice Number Matching. This is a bit tricky question, and you can't catch invoice number from hand written check. However when we are talking about large businesses ? these checks have invoices printed. If you bank has so-called Automatic Clearinghouse (ACH) lockbox file format ? it can provide invoice number line if the check is issued by corporate or midsize established business. In the case of ACH header will have prefix 6 and line prefix 4.

? No Invoice Number Matching. This is still OK if you have a lot of small customers with one or few outstanding invoices. In this case ? use autoapply method. You can have variety of apply criteria: None, Document Number (when you have ACH), Due Date/Oldest Document, Due Date/Oldest Invoice (other than invoices you apply manually), Document Date, Specific Invoices (and you specify them in the list)

? Additional Considerations. Virtually if you have corporate account in any bank ? lockbox processing module does the job ? because you map lockbox file at your will in Lockbox Maintenance screen: Cards>>Sales>>Lockbox

? Customization Options. Lockbox is Dexterity piece, so it is in the hand of Dexterity Developer, if you need to improve it for your corporation. VBA Modifier and Continuum are also available. Also feel free to use new tools, such as Extender or eConnect.

Good luck and you can always seek our help in customization, implementation, integration and support. Call us: 1-866-528-0577 or 1-630-961-5918, help@albaspectrum.com

Andrew Karasev is Chief Technology Officer in Alba Spectrum Technologies ? USA nationwide Great Plains, Microsoft CRM customization company, serving Chicago, California, Arizona, Texas, Florida, Georgia, New York, Australia, UK, Canada, Continental Europe, Russia and having locations in multiple states and internationally ( http://www.albaspectrum.com ), he is Dexterity, SQL, C#.Net, Crystal Reports and Microsoft CRM SDK developer

cheapest limo Akin .. Lockport Chicago limo O’Hare

In The News:

Tech expert Kurt “CyberGuy" Knutsson says using outdated computers and software leaves them vulnerable to security risks and malware.

Tech expert Kurt “CyberGuy" Knutsson reveals how WalkON enhances walking and jogging with sensors and artificial tendons.

Old-fashioned check fraud is back in style, quintupling over the past year. Here are a few low-tech, practical means of protecting yourself.

Tech expert Kurt “CyberGuy" Knutsson discusses how 600,000-plus records, including checks and property data, were left exposed online by an information service provider.

That weird text from a friend may actually be from a hacker. Kurt “CyberGuy" Knutsson tells you what signs to look out for.

Scammers can wreak havoc on your life just by having your phone number. Kurt "CyberGuy" Knutsson addresses how to avoid becoming a victim.

PongBot is an artificial intelligence-powered tennis robot and a smart training partner available to play 24 hours a day, seven days a week.

Kurt "CyberGuy" Knutsson explains how to update your iPhone to add Apple Intelligence, which he says can transform your interactions with your phone.

University scientists have trained a robotic surgical system to do work with the skill of human doctors, possibly transforming the future of surgeries.

As more companies implement artificial intelligence for daily tasks, some industry leaders are working to push back against certain aspects of the technology.

Tech expert Kurt “CyberGuy" Knutsson says the Batagaika crater in Siberia expands 35 million cubic feet yearly due to thawing.

While fewer than 30% of farmers reportedly use emerging technologies like artificial intelligence, experts believe AI could help producers and farmers make food quicker and more efficiently.

Amazon becomes a prime target of scammers during the holiday shopping season trying to steal Social Security numbers, bank information and Amazon credentials.

Spammers have found a way to target Spotify playlists and podcasts to push pirated software, cheat codes for games and spam links and malware sites.

Sharing information online like your vacation plans and relationship status can make you a target for scammers; here's what to avoid posting to keep yourself safe.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson explores six sneaky holiday season gift card tricks, providing tips on how to outsmart scammers trying to rip you off.

Apple Watch's Translate app gives you your own personal interpreter, allowing you to have live two-way conversations in up to 20 different languages.

With kids facing a seemingly increasing amount of threats from creeps on the internet, here's how you can respectfully ask people not to post photos of your children on social media.

Tech expert Kurt “CyberGuy" Knutsson reveals how to regain your Facebook access if you get hacked or locked out.

Kurt “CyberGuy" Knutsson explains how to safeguard retirement accounts from cyber threats with a VPN: encryption, anonymity, secure access.

I’m going to Europe soon, and planning my trip was a breeze. Yes, really! AI did a big chunk of the work for me — and it can help you plan your next getaway, too.

Tech expert Kurt “CyberGuy" Knutsson says North Korean hackers hide malware in macOS apps, bypassing Mac security checks.

Kurt “CyberGuy" Knutsson reveals how iPhone’s new Automatic Mic Mode adjusts settings for optimal call quality automatically.

Jeff Hancock, an expert on AI and misinformation, has been accused of fabricating an expert declaration by citing a study that was allegedly made up by AI.

Microsoft Great Plains Implementation for Midsize & Large Corporation: Lockbox Processing

Software