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How to identify Receipts on Bank Account Number in Lockbox Process?

A Magnetic Ink Character Recognition (MICR)

An MICR number consists of two segments.

1. The first segment is the Transit Routing Number.

The transit routing number should be filled in the field Bank Branch Number of the Banks window (NAV Setup/Receipts/Banks). When this number is not available in Applications, a Bank Branch will automatically be generated by the Lockbox process.

2. The second segment identifies the Bank Account of the customer.

A Customer Bank should be defined in Bank Accounts window
Responsibility:  Receivables Manager
Navigation:  Setup > /Receipts > Banks - Customer Bank

Also make sure this Bank Account is defined with the Customer on Customer level
Responsibility: Receivables Manager
Navigation: Customers > Customers

The MICR number is used to identify the Customer.
The MICR numbers used are shown on the Lockbox Execution Report.
The ACCOUNT (customer bank account number) and the TRANSIT_ROUTING_NUMBER (bank branch number) should be available in the lockbox interface table AR_PAYMENTS_INTERFACE_ALL in order to get identified receipts.

Remark that when the receipt batch is queried after validation, and when the application type is changed from Unidentified to On Account and a Customer is added, the system will automatically add the customer bank to the Bank Accounts window and the Customer window.

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