EBS or Lockbox!

Question

Need bit of guidance, Please HELP.
1) Why would someone implement both EBS and Lockbox, when we know that EBS can also provide the incoming payment details and clearing of G/L and A/R entries. Is lockbox provides some additional benefits than in EBS. Do we have to leave-off AR side in EBS as AR will be taken care by the lockbox process!
2) In USA, is BAI the format most widely used for EBS (or some other format like MT940, Multicash and etc). Do we have to do any additional development work to make the incoming bank file work (BAI format) using standard import tcode in EBS (FF_5).
Please help....

Answer 1

Hi
In EBS you will be having the consolidated amount paid by the customer, whereas in the Lockbox, you can have invoice-wise payment made by the customer. So that you can clear the invoices outstanding in the customer account. You can have both EBS and Lockbox. Lock box will post entry to the Deposit Sub GL account of the Bank, which will be cleared through EBS entry posting to the Main bank account and Sub GL account. Lock box will post entry like this
Bank Sub GL account Dr
Lock Box Clearing A/c
and
Lock Box Clearing A/c Dr
Customer A/c
When you do EBS, depending on the External transaction type given in the statement and the posting rule, the following entry will be posted
Main Bank A/c    Dr
Bank Sub GL account Cr
In US other than BAI format, there are banks which give bank statements in MT940 formats also.
Regards,
Lakshmanan Krishnan