What are the steps for lock box configuration?

Lock Box Config:
Master Data Settings

General Ledger Accounts:

XXXXX has three lockbox clearing accounts:
Company Code 1000 – G/L account 1201005, First Union Bank
Company Code 1000 – G/L account 1201006, PNC, Bank
Company Code 2000 – G/L account 1201008, Wachovia, Bank

General Ledger Account Master Record Settings:
Cash G/L accounts exist for each bank. For example account 1105012 is for PNC Bank. If you look at the G/L account master record for this account (Accounting -> Financial Accounting -> General Ledger -> General Ledger -> Master Records -> Display, transaction FS03) you will notice the 'Relevant to Cash Flow' field is checked.

Customer Master Record Settings:
In order for the lockbox program to identify a customer the payment MICR must be populated on the customer master record in the General Data: Payment Transactions screen. The remit-to lockbox assignment must also be specified. Regarding the tolerance group assignment, XXXXX only has one configured that is a blank customer tolerance. By defining a blank tolerance group the tolerance group field may remain blank on each customer master record but the tolerance settings are applicable. The tolerance configuration will be reviewed in the next few slides. Finally an alternative payer should be entered on a customer master record if another customer account will pay the bills for the customer.

Lockbox Assignment on Customer Master Lockboxes are assigned on customer master records and determine which remit to address is printed on the customer's invoices

Tolerance Settings

When an incoming cash payment does not exactly pay the referenced open item(s), the system will create a residual item back on the customer's account or write-off the difference if tolerance limits are configured.

In SAP tolerance limits are set for users and customer accounts with the stricter limits applying.
SPRO -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Manual Payment Receipt -> Define Tolerance Groups for Employees

Transaction: OBA4

This transaction is used to create tolerance groups for users. The tolerances are defined by company code and at a minimum there must be one assigned to each company code otherwise no postings can occur in the company code.

Company Code
Currency
Amount per Document – The maximum amount that can be posted in an accounting document.
Amount per Open Item Account Item – the maximum amount that can be posted to a customer or vendor account.
Cash Discount per Line Item – the maximum cash discount percentage that can be applied to a line item.
Amount, Percent, Cash Discnt Adj. To (Both Revenue and Expense) – the amount field contains the maximum amount of a customer overpayment (Revenue)/underpayment (Expense). The percent field is the maximum percentage rate difference posted by the system. The lower limit between the amount and percentage applies.

Configuration: Define Tolerances (Customers/Vendors)

SPRO -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Incoming Payments -> Define Tolerances (Customers/Vendors)

OR

SPRO -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Outgoing Payments -> Manual Outgoing Payments -> Overpayment/Underpayment ->Define Tolerances (Customers/Vendors)

Transaction: OBA3
This transaction is used to configure customer tolerances. To change a tolerance select the company code then press the Details icon.

Configuration: Define Reason Codes
Transaction OBBE is used to configure reason codes by company code. All new reason codes must be configured in each company code.

Configuration: Define Text : Transaction OB56 is used to configure the text that appears on a line item based on the reason code entered.

Configuration: Define Accounts for Overpayments/Underpayments : Transaction OBXL is part of the automatic account assignment. The GL account for overpayments/underpayments is maintained here.

Configuration: Define Posting Keys : Transaction OB41 is used to configure posting keys. Posting keys are two-digit numeric keys that control the entry of document line items. Specifically it controls the account type, debit/credit posting, and layout of entry screens.

Get help for your SAP FI/CO problems
SAP FICO Forum - Do you have a SAP FI/CO Question?

SAP Books
SAP FICO Books  - Certification, Interview Questions and Configuration

SAP FICO Tips
SAP FI/CO Tips and Financial Accounting/Controlling Discussion Forum

Best regards,
SAP Basis, ABAP Programming and Other IMG Stuff
http://www.sap-img.com