Please Wait a Moment
X

Infor LX Tips, Infor LN Tips, BPCS Tips, Baan Tips, Infor M3 Tips & Infor ERP News

Crossroads Connections

Infor ERP Tips & News from the Experts

Infor LX | Infor LN | BPCS | Baan | Infor M3

George Moroses
/ Categories: Infor LX & BPCS Tips

Infor LX & BPCS Tip: Automated Approach to Your Cash Application Process with ARP

Advanced Remittance Processing, ARP, provides an automated approach to your cash application process. ARP works together with Accounts Receivable to save valuable time and resources by automatically applying incoming payments to open receivables during daily batch processing. You can easily and efficiently resolve unapplied remittances online.

Advanced Remittance Processing (ARP) is an automatic cash application process that allows you to perform the following functions:

  • Receive lockbox deposits electronically from your banks on the day the payments are deposited
  • Automatically apply the majority of the day's receipts to open items in accounts receivable in one batch process
  • Perform online disposition of exceptions the system encounters during the automatic cash application process
  • Generate a complete set of daily reports and maintain historical deposit and payment information online to allow you to audit all cash applications

The ARP automatic cash application process can be summarized in a series of operations that highlight the labor savings provided. ARP processing requires some setup to ensure that the process operates as efficiently as possible.

ARP allows you to perform the following operations:

  • Receive/Edit Bank Transmission of Lockbox Deposits
  • Identify/Assign Customer Numbers
  • Select Customer Open Items
  • Summarize Open Items Extracted
  • Check Application Against Open Items
  • Produce Reports Recapping Check Application Process
  • Create Disposition and On-Account Payment Records
  • Report Check Differences
  • Create Applied Checks Interface Records to Accounts Receivable
  • Flag Disposition Records as Temporarily Paid on Ledger File
  • Update A/R Ledger and Audit Files
  • Open Item Extraction

Previous Article Revamp Your Productivity: Discover Crossroads RMC's Ultimate Solution
Next Article Infor LN & Baan Tip: Performance improvement by setting the First Free Number Cache (tcmcs0651m000)
Print
10833 Rate this article:
5.0
George Moroses

George MorosesGeorge Moroses

Other posts by George Moroses

Theme picker

Contact author

Please solve captcha
x

Tips:  LX | BPCS | M3

Here are 5 ways you can motivate your employees to give their best every day:

1. Train Your Employees

2. Give Your Employees the Right Tools

3. Automate Processes

4. Give Your Employees Real-Time Feedback

5. Provide Incentives to Do More

Optimize Your Manufacturing Today!

Previously, Material Requirements Planning (MRP) preferred practices meant that the component’s due date was the same as the parent’s shop order release date. Because MRP trends have changed, the preference for this due date is the day before the release date of the parent. Although Infor LX already has this functionality in Shop Order Maintenance programs (SFC500), users could not change how due dates were determined for lower level shop orders in Multi-Level Shop Order Release, SFC530D.

This enhancement provides an additional parameter for Multi-Level Shop Order Release. This parameter allows the user to change how the due date of the child components is determined. The user is now able change how the due date is determined for multi-level shop orders. If the Due Date of Children parameter is set to 1=Yes, the due date of the child components is the same as the release date of the parent. If the parameter is set to 0=No, the due date is the day before the release date of the parent.

Optimize Your Manufacturing Today!

First7980818284868788Last

Theme picker

Tips: LN | Baan

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

  • Bank Statement Workbench (tfcmg5610m100)
  • Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

1345678910Last

Theme picker

Categories