Contact LeaseTeam
We're always here for you . . .
At LeaseTeam, our clients are our bottom line. That's why we make sure the lines of communication are always open between LeaseTeam and our customers. If you have a question about a LeaseTeam product or service, just ask!
Request a Demo
Still want more?
Find out how LeaseTeam can help your company streamline processes, reduce costs and improve performance during a product demo by one of our highly trained regional sales managers.
Lockbox
Lockbox automation removes manual check entry, but still retains all standard cash receipt controls, including automatic cash application options such as priority post and the ability to edit the check information or cash application. It imports cash receipt data automatically, applies cash to your open invoices and allows you to edit items posted in the same manner used in the manual posting of cash receipts. Lockbox saves time and improves accuracy.
How?
Lockbox is a simple, efficient process and can be used with all back-end system printed invoice and statement options.
The payment stub contains key identifying information which is scanned by your bank.
After posting the receipts to your
account, banks produce an electronic file containing information required for automatic posting of cash receipts.
received from the bank is imported into the back-end system cash receipts.
To ensure the customer and contract numbers are accurate, all data is validated by the Lockbox process. Exceptions are excluded from posting, but they are logged and reported to the user.
Cash receipt is verified
and posted.
(NOTE: Scan line required on invoice and financial institution electronic check file may be unique and require minor customization. Please consult your Regional Sales Manager for more information.)
Key Benefits
eliminating manual check entry.
Improves accuracy and
eliminates mistakes such as entering wrong check amount or applying checks to the wrong customer.
and available sooner because the check is sent directly to a lockbox managed by the bank.