Below I have discussed the concept in question and answer wise for more clearer understanding. I welcome esteem members thoughts, comments and suggestion. I will incorporate them accordingly in my updates. What is Lockbox? Concept of Lockbox. In general, a lockbox is a post-office box PO box that is accessible by a bank.
Typical costs are several cents per transaction to as high as one dollar or more. What are the advantages on taking Lockbox services from Bank? Below I have discussed some points, but the list of advantages is exhaustive. One benefit of the lockbox service to the commercial customer is that it can maintain special mailboxes in different locations around the country and a customer sends payment to the closest lockbox.Khwab mein dhaniya dekhna
The company then authorizes a bank to check these mailboxes as often as is reasonable, given the number of payments that will be received. Are there any kinds of Lockbox services for kinds of business? Lockbox services are generally divided into wholesale and retail.
Retail lockboxes are for companies with high volumes of consumer-oriented payments such as utility payments, loan payments, etc. Wholesale lockboxes are for corporate-to-corporate payments and tend to be higher dollar amounts than retail lockbox transactions. These transactions usually do not include a standardized payment coupon and require more manual effort for the bank to process. When they come into picture of processing invoices? The account holder then imports the files to a bookkeeping application in our case SAP and performs bank reconciliation if necessary.
What are posting made in SAP when lockbox transaction is processed with file? Later user has to manually clear the customer open invoices with payment receipt. When customer is not identified, the on-account posting is does not happen only back posting is made.
Later user has to make Accounts receivable posting with clearing. To sum up there could be two to three posting when the entire cycle of lockbox process is complete. From where I can get the sample files for testing the lockbox settings? Using below programs can used to create your test data as per need. Below is the sample file, using which you can create your own BAI format.
Note : this is only a sample file for your testing.I am in the process of configuring the Elctronic Bank statement and i have a doubt in the BAI2 format file which is ent by the Bankers.
Can any one help me in understaning the file format please? A 16 record is a transaction - these lines contain the details for the individual items that were debited or credited to the account.
The first field after 16, will contain the BAI code for the type of transaction. An 88 record is a continuation record - that is, it is additional information that did not fit on the previous line.
BAI2 file format - SAP vs Bank
If 88 records follow a 03 record account headerthey usually contain additional account balance information. If 88 records follow a 16 record transactionthey usually contain the Note to Payee information for the transaction. The BAI organization has a reference manual "Cash Management Balance Reporting Specifications, Version 2" that contains information on every record type and the fields within each record. It also has a list of the generic definitions for the different BAI codes Although different banks may use codes differently or one bank may use the same code for different types of transactions - figuring out what the codes actually mean for your particular bank is part of the "fun" of implementing EBS.
I would definitely recommend that you try to get your hands on a copy of this manual. Disclaimer: I am in no way affiliated with BAI, so this is not a sales pitch for their manual. I am only recommending the manual as I found it very helpful in understanding the file format and I am letting you know how my company got our copy of the manual.
Why i ask this question is because, we receive a file from the Bankers, as i mentioned below. Here you can see four "88" lines. But i am not sure what exactly it depicts. And one more problem is, on the same file i get only one "16" which has a Trans Type which is mapped in SAP. As a result of the same it post only one document. My user is asking me to get some information from the 88 and post in SAP, i am not sure how this can be possible.
Kindly help me on this. And also please help me in understanding the details that is availabe against the "88". You can, too.Yoyhammer z catalog 2018
Actually what I said in my email and what you found on the website are both correct. The difference is where the "88" is used. If 88 is used at the start of a line in a file, it is a record type and means that the line is a continuation line, as I described previously. If the 88 is found within the record not at the startthen it has the meaning you found on the website.
Confusing - Yes, I know.The purpose of this page is to clarify the understanding of the BAI2 format for lockbox, such as characters and segments of the file. In the following sections you will be able to understand better the BAI2 structure. Concept of Lockbox. This is a great reference for the lockbox file format that is clearly used by many. I am very confused by something though. I see this format is referred to as BAI2 not just here but in many other places.
When I study the BAI technical reference manual, there is no format like this. This fixed length record format does not appear to be a BAI file really. This is not documented anywhere in the BAI specifications.
Is this really a SAP format? I guess I am wondering who designed this format for lockbox 80 character records with fixed length fields and layout? ERP Financials. Browse pages. A t tachments 10 Page History. Jira links.
Created by Leonardo Cunhalast modified on Feb 25, Purpose The purpose of this page is to clarify the understanding of the BAI2 format for lockbox, such as characters and segments of the file. Unknown User lf51l Permalink Sep 19, Powered by Atlassian Confluence 6.So I am little confused which format is the correct one?
But, note that the record 7 is not mandatory, some banks process groups of checks in batches, so this record will be useful. You can ignore this and proceed implementing the lockbox process with usual records 1 5 6 4 8 9.
Your comment about BAI2 for lockbox not being comma delimited raises a question. There is nothing at BAI. Is the lockbox format being talked about something unique to SAP? I cannot figure out where the fixed length record format for lockbox came from it is not an official BAI format at all.
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Krishna B. Posted on Mar 23, at AM Views. Please advise. FIN Finance. Add comment. Related questions. Sort by: Votes Newest Oldest. This answer has been deleted. This answer has been undeleted. Former Member. Posted on Mar 23, at AM. Alert Moderator. You already have an active moderator alert for this content.
Posted on Mar 23, at PM. You can ignore this and proceed implementing the lockbox process with usual records 1 5 6 4 8 9 I hope it helps to clarify the Record 7 purpose.
Thank you and regards, Leonardo Cunha.
Lockbox with BAI Format
Sridhar Madiraju.It was introduced by the "Bank Administration Institute", based in the US, to facilitate previous day reporting of account balance information to clients and their agents, for activities that have occurred on a client's accounts.
The main objective of the BAI2 file format is to provide clients with structured, machine-readable account information that can be consumed and processed by client systems automatically, to provide sufficient account information to support their business needs including automated account reconciliation processes i. The BankRec BAI2 file format uses fixed length records, up to 80 bytes per line, including any "comma" delimiter characters and the "slash" record termination character.
This is the first file of the day, with physical record length of and in BAI file version number 2.Gabriel zuchtriegel – parco paestum e velia
Meaning: The following account information for Customer account has been reported within this record. Record 88 is used to continue a Record 03, 16 or 88, when these records exceed the maximum record character limit. Meaning: The total value of amounts reported for this account is Meaning: The total value of amount reported for this group is Meaning: The total value of amount reported for this file is The "Text" for the transaction is the associated "Westpac Narrative" specified below.Fy6600 software download
Occasionally Westpac will introduce new transaction codes. If a transaction code is received that is not explicity defined above, it will appear as a Miscellaneous Credit or Miscellaneous Debit. A more appropriate code will be assigned at a later date. If you receive a data-enriched bulked, reconciled or debulked statement there will be some modifications to the Transaction Detail records.
For bulked and reconciled enrichment, the following modifications will be applied to the 16 record:. For debulked recievables enrichment, the following modifications will be applied to the 16 record:. For external entry enrichment i. If you require further enrichment transaction code manipulation, alternate reference values, etc.
About Documentation Support. Format overview The following diagram depicts the BAI2 file layout. The following table defines the record types shown above. Identifies the; Sender of the file. Receiver of the file. File structure description. Identifies the group of accounts sent in the file that are from the same sender.After avoiding it for several years, finally the time turned on me.
What appeared as cumbersome all these years, is actually very interesting and logical.
The BAI2 file is a plain text file. Hence, interpreting that becomes a bit tedious. For now, I will make an attempt to explain what and how does a BAI2 file contain. Other Bank statement formats MT, etc. With the help of colour coding, lets understand how to interpret the key elements in the above file. The data records in the screenshot above are depicted in the below excel sheet. With different colour coding for various key elements, I shall try to explain what do they mean.
The file records with 01, 02 and 03 contain the basic information with regards to Bank Routing No Bank Key. Statement generation date, Statement date, Bank Account no. The file records with 88 always contain some extra information about the preceding record. In the above screenshot, the records with 88 after the 03 record, contain information about Closing Balance, Total Debits and Total Credits.
Each one of these transactions is represented by a unique transaction type.
EBS – How to interpret a BAI2 file
For example, for Checks Out, for Interest Income, etc. We use these transactions to trigger the various postings in the FI — General Ledger. If some extra information is there about a particular transaction, the data record 16 will follow with a 88 data record See below. Using this information, for example, an incoming check from a customer can be used to clear the invoice.
The records 49, 98, 99 appear at the end. These signify the closure records of the Bank Statement. Visit my Facebook page www. A crisp document, which is very useful to anyone who is looking to configure EBS and probably also use Search String functionality. Hi Ajay. Thanks for this useful document. Can you please guide where in BAI2 config the mapping of different fields is maintained so that I could try changing that config.
Nice presentation, as usual it is very informative. Good document and got a basic idea about how the BAI file format is. Ajay Maheshwari. Posted on October 20, 2 minute read.
Follow RSS feed Like.The predominant way payments are made in US is by checks. Lockboxs help in speedy deposit of funds and clearance of customer accounts. Lockboxs are special depository accounts set up at a bank to which customer remit their invoice payments. Figure 1: Lockbox Process Flow. Each bank has its own standard BAI and BAI2, hence configuration and testing needs to be done depending on bank file configuration. Hence if you are not comfortable with bank file format either you can approach them to modify it depending on your requirement else ABAP can help in writing a preprocessing program and make file fit with SAP standard format.
BAI2 is advised as because it has greater probability of producing automatic matches in the processing and because it allows one to record deduction information and create proper residual postings.
Day 1 When the bank receives a check from customer with remittance information its sends it in Lockbox file. Lockbox file when processed will generate below accounting posting.
Dr Bank Clearing account — incoming. Cr Lockbox Clearing Account. Dr Lock box clearing account. Cr Customer account customer sub ledger. Day 2 when the check is cleared in bank, it appears in EBS. EBS when processed produces below accounting entry.
Cr Bank Clearing Account — incoming. Lockbox Configuration. Activating this field is recommended. Insert Bank Details: Applicable for batch input session name that updates bank details of master records for customers who have either changed bank information or did not have bank information maintained for them. Destination: This field should contain the destination code the bank submits to you in your lockbox file.
Origin: This field should contain the your lockbox number bank account number at the bank. Maintain Bank details in customer master data which bank will send in lockbox file. SAP gives option of using one of the two standard algorithms for lockbox processing. A common misrepresentation is that one can create own algorithm which is not correct.
We can only use the pen delivered by SAP. Documentation can be viewed for this program from SE38 transaction code. This program contains lot many user exits whether one can add any additional business logic. Two algorithms that are used are and If file contains checks that cannot be applied against specific invoice but for which customer account is known, SAP posts them on the customer account without reference to any specific invoice.
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