Customizable lockbox services are an extension of your accounts receivable department. Lockbox processing improves your cash flow while eliminating manual internal procedures, reducing payment processing time, expenses and mitigating the risk of fraud and error. Receive customized processing, reporting and data extracts to streamline your payment posting.
Bank of Labor’s module offers full or partial reconciliation features. We will establish the reconciliation cycle and delivery method for the service according to your unique needs. With full reconciliation, you can manually enter or import check issue data, update check issues and view, print or export your reconciliation report through online banking.