Cash Receipts - Lockbox Overview
TOPS [ONE] Version 22.214.171.124
Lockbox is a service provided by the bank to centralize the receipt of payment from homeowners. Under the service, the payments made by your homeowners, are directed to your bank instead of being mailed directly to the Management office. The bank processes the owner payments and deposits the funds directly into the bank account set up for this purpose. A lockbox file is then generated by the bank which includes all homeowner payment amounts.
Lockbox Cash Receipt Payments are a Global Process in TOPS [ONE]. A single lockbox file may contain payments made by homeowners from multiple communities. The system will correctly record each transaction on the homeowner ledger and record the deposit in each individual community bank account.
In This Article
A unique lockbox id is needed for each bank account used for lockbox processing. The Lockbox ID is added on the setup screen for each bank account. This 1-10-character, an alphanumeric identifier is provided by your bank.
Lockbox Payment Application Order
The order in which code balances are paid is determined by the payment application order. Lockboxes have their own distribution list and should be verified before uploading a lockbox file.
Upload a Lockbox File
1. Download the .txt Lockbox File from your bank.
For questions regarding where or how to download the file, please reach out to your bank.
2. Click Accounts Receivable then Cash Receipts
3. Click Cash Receipts - Lockbox
4. Select the File Format
5. Enter the Post Date
6. Click Select Files and upload the lockbox file.
If the upload was successful, the following message will pop up.
7. On the Cash Receipts page, click Outstanding Batches.