Receive BMG Netting File

For BMG Netting users, this option allows you to receive information that was transmitted from BMG to the Mediaocean FTP site and start matching cash receipts to unpaid invoices in the Mediaocean System. Only files that have not yet been received are available for maintenance/processing. Before using this option, G/L Account Defaults (gain/loss account) must be set up for all companies/offices, all BMG bank codes must have lockbox information keyed using the Bank Code Definition option in the Central Data Base, and all Hyperion codes associated with a Company/Office for BMG processing must have a BMG bank code keyed in the Company/Office Records in the Agency Profile. If a file has already been received or if setup has not been completed, the matching process stops and an Error Report is produced. The Error Report should be used to identify errors. Errors must be corrected before the matching process can be restarted using this option. If there are no errors, the Lockbox Receipts Successfully Received Report is produced.

Cash receipts that cannot be entirely matched must be maintained by the agency. To maintain cash receipts, the agency must use the A/R Lockbox Maintenance option. Maintenance can include correcting any invalid invoice numbers, adding multiple lines to break an amount down by different clients/products, changing amounts for partial payments, and classifying any unknown amounts as unapplied cash. If no match can be found whatsoever, then the check is recorded as unapplied cash. This type of check can then be applied through the A/R Lockbox Maintenance option.

The Unposted Lockbox Report option can be used at any time to produce the Outstanding Lockbox Receipts Not Posted report. This report shows either all unposted lockbox receipts, fully matched unposted receipts, or unposted receipts that are not fully matched.

After maintenance has been made to applicable receipts and totals match the amount received from the bank, users can post through the Post Matched Lockbox Receipts option.

1. Select Accounts Receivable|Cash Receipts Processing|Receive BMG Netting File.

2. Since there are no selections to make, just click Next to display the Printing Selection Window where you submit your request to receive information and start matching cash receipts to unpaid invoices.

3. Refer to your online Help for instructions on using the A/R Lockbox Maintenance option, the Unposted Lockbox Report option, and the Post Matched Lockbox Receipts option.