Lockbox Issue with payment on exact day as Cash Discount Days 1 Due Date

[Former Member]

Dear Gurus

We are running into an issue in as much as when we receive a payment against our Lockbox on the exact day as the Cash Discount Days 1 due date the system posts this as an on account posting as opposed to applying the cash against the open receivable and posting the difference to the Cash Discount Account.

E.g. Invoice 10000 Payment term 34 days 2% Net 35. I created the AR invoice today with invoice date and posting date of Oct 9, 2009 and posted the same. Received payment $ 9800 on Lockbox file today Nov 12 using the BAI2 format Lockbox file and found that the system did not even show the invoice # on the Lockbox reports but it recognized the customer based on the MICR # and posted an on account payment. It gave the error" F5 263 Difference too large for Clearing"

The users have prior complained that this situation arises in F-28 as well where they would have to force the discount instead of the system recognizing the same if cash was being applied on the same date as the Cash discount Days 1 due date.

Any help in this regards will be geratly appreciated and points awarded.

Regards

Satpal Narang

[ravi_nagh]

Hi Satpal,

Please check the net due date of the document which you are trying to do the payment. As it is critical information to calculate the cash discount.

I hope this helps.

Regards

Ravinagh Boni