Cash Receipts Lockbox Posting Procedures PDF

Cash Receipts Lockbox Posting Procedures Lockbox Deposits Check Postings Input fields to be used: Receipt Date, Check Date, Receipt Type, Receipt Code, Receipt Currency, Receipt Amount, Document Number, Invoices, Drawn by Payor (if applicable). Please note when posting payments the inv...

Cash Receipts Lockbox Posting Procedures Lockbox Deposits Check Postings Input fields to be used: Receipt Date, Check Date, Receipt Type, Receipt Code, Receipt Currency, Receipt Amount, Document Number, Invoices, Drawn by Payor (if applicable). Please note when posting payments the invoice # or claim # is not always correct. Make sure to double check all information by pulling up the matter# in Matter Group Inquiry. Also please note any additional documents included with the check which contains remittance and/or how to post the payment. Receipts Input 1. Access the receipts input module by selecting Receipts-Apply/Reverse Payments from the main screen of 3E. Once in this section, begin the posting process by exiting out of the first screen and then clicking on the ADD button located to the far right. Start entering the required fields list out below. 2. Receipt Date-Begin by inputting the date of the Lockbox deposit/the date the check hit the bank in the Receipt Date field. Input in the following format. MM/DD/YYYY-Example-  04/15/2021. Note-the date only needs to be input once as it will be retained for the duration of the check postings. 3. Check Date-Input the date the check was issued-located on the check. 4. Receipt Type- Designates the currency type which is being posted. Type in USD for the bank PNC. Type in OPS (will auto populate the rest) for the bank JPMorgan-also will be retained for the duration of check postings. The bank will be listed in front of the pdf as either JPM or PNC, please post each bank separately. 5. Receipt Code-Identifies the type of deposit being posted. For Lockbox deposits enter in Lock Box or simple “LO” and enter, it will automatically fill in with Lock Box. This section is also retained for all checks being posted. 6. Receipt Amount-Enter the amount of the payment being posted, ensure this is entered correctly. 7. Document Number-Enter the check number being posted. This is found at the top of the check or is the first set of number at the bottom of the check, leave out any leading zeros. Once entered, on the right of the screen select the three lines and then select “Invoices”. This will prompt you to invoice at the bottom of the screen and select “Add”.  8. Invoices-To the right of Invoices, click on the blue highlighted word “ADD”. This will bring up a new box with a single input field called “Invoice Payor Detail”. Enter the invoice number or matter number, at the magnifying glass, which the check is paying for, and press enter. This will bring up the invoice information in a new box. Ensure the amount of the invoice matches the amount of the check and double click on the line item. Once selected it will populate the areas in the Invoice field from the original posting screen. Please note that the invoice listed on the remittance or check is not always correct. Make sure the amount, claim #, listed payor, etc. matches with what is listed on the check by checking matter group inquiry. An error will occur if two separate checks are posting towards the same invoice #, you will need to submit the current batch and start a new batch to post against the same invoice. 9. To input the next check-click on the ADD button (as done above) which is located to the right of the blue banner bar at the top titled Receipts-Apply/Reverse. This will bring up a new input screen for an additional check to be entered. It will also add a line item for the check at the top in the section marked Worklist. You can submit as many checks as you want this can range from 10 checks – 100 checks. This is up to your preference. Once you submit a batch you will need to follow the above steps every time to enter a new batch. 10. Worklist Section-This area will post a line item for each check entered. it will also display an ongoing total of all checks entered. 11. Drawn by Payor (if applicable)-once a payment has been posted, the two fields “Payor” and “Drawn By” will populate with the client's name which is encoded in the matter setup as being the responsible paying party. Should the which has been posted be from a different client, input the name of the party which issued the check in the “Drawn by Payor” field located under the “Payor” field. Once the name is entered, click on the search Icon to the right, a list of names will come up, select the correct name that is Active and it will populate the “Drawn by Payor” field automatically. As an Example: the check has been entered and the Payor field reflects Allstate as the payor, yet the check perhaps is from a Law Firm, individual or a different insurance company. Posting Multiple Invoice Payments-Bulk Payments Some checks received will be paying on multiple invoices with one check. Two adjustments need to be made to accommodate the input of these checks. Multi-Payor Payment check box. ADD button. 1. Multi-Payor Payment Selection-Directly to the right of the Check Date input field there is a line item labeled Multi-Payor Payment. Selecting this choice will allow continuous input of  invoices under one check entrance. Click on the box to the left of this field. In the Receipt Amount field, ensure to enter the entire total of the check. 2. Adding Multiple Invoices-Once all the fields are entered for the check select ADD next to the Invoice line item and enter the first invoice. After the first invoices is entered there will be an additional ADD button which will be in the blue line-item bar in the middle of the page, select this ADD button and not the ADD button to enter a new check. Enter in the multiple invoices by continuing to click on this ADD button until complete. Ensure that all have been entered and the amount for each corresponds to the amounts listed on the check remittance. Once complete the Amount Remaining field at the top of the page should be $0.00. If there is an amount remaining, ensure all invoices were entered and the amounts for each are correct. Do this by reviewing each invoice entered by using the left and right arrows in the blue bar to the left of the ADD button. Make sure to check all documents included with the check to make sure the correct amounts are posted towards the invoice or check the matter group inquiry to see the percentage the payor is to pay on the invoices. Exceptions – Searching Payments 1. Invoice Inquiry - If there is no invoice or matter # listed on the check image, then search the amount in Invoice Inquiry. Type the amount in “invoice balance” field for the exact amount of the check and select submit in the top right. Once you find an invoice with the matching amount and payor name you can then go back to the receipts apply-reversal and enter the invoice number. If no amount is found or the payor does not match send the payment to Robert Garcia or Nicole Tripp.  2. RCG Matter Short Entry – Another way to search a payment is by claim # which can be listed on the check. Open RCG Matter Short Entry and select “Advanced Find”. Then select “Add Field” and type in the word “Claim”. Select “Matter Payor.Payor Detail.Claim Number” which is the second to last from the bottom drop down. Then select the drop box next to the word equals and select “contains”. On the last field you will enter the claim # in which you can enter some or all of the numbers listed on the check. Then click select in the bottom right and this will search for all matter numbers’ associated with this claim number. Scroll down until you find where the matter description or client display matches who the check is form. Copy the matter number over the receipts apply reversal screen and enter where you add an invoice number. Invoice numbers and matters numbers can be used interchangeably in the invoice field. Make sure that the amount and payor match when you apply the payment, if not remove the payment until you find one that matches. If no match is found please send check to Robert Garcia or Nicole Tripp. Once complete for the day make sure to “Cancel” out of RCG Matter Short Entry or it will stay in your action list until canceled out. Balancing and Submitting Once all checks of the deposit have been entered, it is crucial the total amount displayed as being entered balances to the amount of the deposit or amount you are posting. If the balances do not match, ascertain the amount of the difference between the checks entered and the total deposit amount. Most commonly the overage is due to a check being omitted during the input process. If this is not the case, ensure the amount of each check was entered correctly by reviewing the line item amounts for each check displayed in the Worklist section. If the balances are correct, click on the Update tab located to the right of the ADD tab in the blue banner section. This function will review each check entered for any errors. Once the Update function has run it will return information of any input errors and highlight the line item(s) which need correcting. Most common are omissions in entering various fields such as document number, etc. If the receipt amount does not match the amount on the invoice or there are continuous errors please send check copy to Robert Garcia or Nicole Tripp to further investigate. Once the Update function returns will no errors, the batch can be submitted which will post all checks to their respective invoices/matters. This is performed by clicking on the Submit button located at the top of the screen in blue. Depending upon the number of checks which have been entered, the Submit process can take from a few seconds to a minute of more. Once fully submitted, the screen will automatically revert to the main page of 3E. If a line item is needed to be deleted select Remove in the upper right in blue. If you need to cancel out of the entire batch and you do not want any changes to be saved select Cancel in the upper right. Please note that no changes will be saved once you select Cancel. Additional Documents Please disregard any additional documents that are not check images in the lockbox file. These consists of any additional documents mailed by clients as well as credit card payments. Robert Garcia and Nicole Tripp will handle these. For PNC these additional documents will be found at the bottom with an amount of $0. For JPMorgan these are found at the beginning or throughout the check images.