Dynamic Solutions 2000

Lettershop Services

 Lettershop Services and Lock Box Processing

Lettershop services are defined as the complete preparation of written correspondence to subscribers.  This includes data reception, data preparation, document preparation, envelope (s) preparation, postal presort, reporting, CASS certification reports, printing, metering, packaging, delivery to the post office and transmission of an address update file back to the client.

Lock Box Processing is the reception of payments or returned mail, processing and transmission of data to the client. 

Lettershop Services 

The process for handling the processing of statements, dunning notices or correspondence with subscribers begins with a schedule of events.  First the number of cycles is finalized along with the dates that they will be run.  If the dates are to be changed or processing delayed, notice should be given to Dynamic Solutions 2000 as soon as possible.  If the processing dates are changed at the last minute without notice, an additional setup fee will be incurred.

The next step is to estimate the number of pieces that will be mailed in each cycle.  Once the estimate is completed and the initial processing date agreed upon, an invoice for postage, envelopes, ink, and processing for the month will be sent.  At the end of each month credits or debits will be applied to the clients account in order to reflect the actual number of pieces processed.  Postage must be sent to Dynamic Solutions 2000 10 days prior to a mailing so Dynamic Solutions 2000 will need to receive the payment 12 days before the first monthly cycle each month from the client.  Following the first month the estimate on the number of pieces that will be processed will be based on the previous months processing statistics.

Option 1.

Client will be responsible for executing a backup of the tables.

Client will be responsible for executing the autobilling process.

At the time of a cycle end, following autobilling processing, the files will be sent to Dynamic Solutions 2000.  Upon reception the files will be reviewed and an extract will be done to verify data.  The data will be processed through the Pitney Bowes SmartMailer system.  This will produce a CASS report as well as mailing tray labels, postage information and printing instructions.    An update file will be produced which will include updated zip codes and mailing addresses. The statements will be printed in tray order.  The mail trays will be covered and secured and transported to the post office.   A postnet bar code will be include as the first line of the address.  The return receipt will include the account number, billing ID and the amount.  A file with the updates will be sent back to our client for processing.  A Lock Box reconciliation file will be produced and prepared for Lock Box Processing. This will ensure that the subscriber records are totally up to date.

Client will be responsible for processing the updates and ensuring the tables are current.

Client will be responsible for processing the post billing and cycle end process.

Client will be responsible for executing a backup of the tables.

Option 2

This option is done for an additional charge.

Client will be responsible for executing a backup of the tables.

At the time of a cycle end, the files will be sent to Dynamic Solutions 2000.  Upon reception, the files will be reviewed and autobilling will be performed.  Then an extract will be done to verify data.  The data will be processed through the Pitney Bowes SmartMailer system.  This will produce a CASS report as well as mailing tray labels, postage information and printing instructions.  The statements will be printed in tray order.   The mail trays will be covered and secured and transported to the post office.   A postnet bar code will be included as the first line of the address.  An update file will be produced which will include updated zip codes and mailing addresses.  The return receipt will include the account number, billing ID and the amount.   Dynamic Solutions 2000 will be responsible for updating the tables.   A Lock Box reconciliation file will be produced and prepared for Lock Box Processing.   This will ensure that the subscriber records are totally up to date.  Dynamic Solutions 2000 will process post billing and cycle end tasks.  The tables will be sent back to our client.

Lock Box Processing

Because timely collection of payments is so critical to your business, we offer comprehensive, flexible remittance banking services to substantially streamline your accounts receivable function.  Our staff works with you to develop a collection process that includes data transmission, and payment/invoice reconciliation.

Solution Features:

·                     Reduced mail float – The initial envelope which contains the statement includes a postnet bar code in the address.  This Postnet bar code contains the zip code, zip plus 4 numbers and the delivery point barcode.

·                     Expedites deposits by depositing incoming mail receipts directly to your account in your bank.

·                     Accurate Processing – Rigid processing standards are consistently met for accuracy, mail pickup and sorting, depositing and reporting deadlines.

·                     Superior Availability –Our electronic reporting capabilities provide same day information access.

·                     Deposit reporting – electronic reports are sent daily.  This gives you total knowledge of each payment process and daily deposit.  The deposit is made to your bank and your account so there is no delay in transfer times.  With electronic access to your account you will be able to see your deposit the same day.

·                     A completed reconciliation file will be available daily.  The reconciliation file will contain all invoice information from every statement sent and updated with the lock box information.  You will be able to not only see what was paid when but also you will have the capability to track payment trends, do collections etc.

·                     Image copies of the receipts can be sent to your location via electronic transmission as a further security measure.

·                     You can concentrate on sales and servicing your customers instead of processing payments.

·                     You know longer need to go to the bank to make your deposits.  You can view the deposits on-line.

Benefits:

·                     Faster mail times, check collection, and funds availability.

·                     Improved processing and deposit procedures.

·                     Improved internal audit controls

·                     Timely. Cost effective payment reports.

Lock Box processing will encompass the secure processing of payments, address corrections and returned mail.  First the environment for the processing of payments will be secure.  A proximity card system is utilized to secure the premises as well as tracking all access to the facility.  A Post Office Box will be acquired for the exclusive use of our clients Lock Box.  The bond insurance will be set so that it covers more than the largest days deposit.

The Lock Box payments and returned mail will be transported during normal business hours from the post office to the Lock Box-processing center where they will be separated into payment envelopes and returned mail envelopes then counted by two people and verified.   A verification document will be produced daily showing the initial counts and verification signatures, then the deposit amounts for partial and full payments with verifying signatures.  This verification will be used to reconcile the days item total count to the deposit and transmission file. 

The Lock Box Center currently has a proximity card system that secures access to the facility.  An additional access will be installed on a door leading to the room where the processing will be done.  This will provide a record of all access along with a timestamp of the accesses to the room.  A camera will be used to monitor the room.  This will ensure that all actions and movements can be monitored.

The first step will be to separate the returned mail from the payment envelopes.  Returned mail will be processed into a file in order to indicate that the BNA that was acquired is not correct.  This file will be transmitted back to the client at the end of the day.  The reconciliation file will also be updated to reflect the returned envelopes.

Payment processing will begin with the separation of full payments from partial payments and mail to be reviewed.  Full payments will then be processed by having their payment receipts scanned into a full payment batch file.  Any envelopes that have a problem will be listed separately so that an audit or review can be done on these items.  These include return envelopes that do not contain payments, and envelopes that have written correspondence rather than payments.  The reconciliation file will be updated with all full payments and any accounts to be updated will be reviewed.

Partial payments will be processed by entering their account number from their return receipt and amount into a batch process file.  The reconciliation file will be updated with all partial payments.

A balancing process will take place in order to verify the total of the full and partial payments.  The total amount of the deposit will be verified between the actual deposit and the amount that was calculated via the Lock Box Process.

A receipt scanner-processing unit will be utilized to process all full payments.  The output from receipt  scanner processing will be balanced to the checks and any other currency type received.   Once the balancing has been performed and documented the file will be created for transmission to the client.  The file will contain batch header and trailer records identifying the batch, date, total full payments, total partial payments and grand total of the number of payments along with corresponding amount totals.  The deposit will be made to the Clients account the same day.  No money will be kept overnight.

The Lock Box Batch Transmission file, reconciliation file and the returned mail file will be transmitted to the Client daily.  A monthly report will be produced.  Along with the monthly report there will also be an online table showing all statistical information for each batch that the client receives so they can review it at any time on their own system.  The reconciliation file will be marked with a unique id representing the actual billing that it represents.  So it will be updated daily based on the codes found on the return receipt.  From the reconciliation file and transmission file, daily reports will be produced.

Lock Box Process:

1. Receive transmission showing new invoices being sent out.
2. Check mail box for payments / returned mail
3. Verify number of items received (payments and returned mail) this process is done before any envelopes are opened and verified by two people. (Daily document initiated with count verification and signatures verifying count)
4. Items separated (returned mail and payment envelopes).  Payment envelopes opened.
5. Full payments separated from partial payments.  The count of each is recorded on the verification and balancing document. 
6. Full payment receipts scanned and processed – file and deposit total produced.
7. Partial Payments processed by entering account and amount.  Account number is verified as the items are entered.
8. Exceptions noted.  These include notes to ACI Billing Services Inc., Envelopes containing payment receipts and no payment, Checks received that are not signed etc. The verification and balancing document will list all exceptions involving payments.  Other exceptions such as requests for change of address will be placed in the reconciliation file.
9. Deposit prepared and balanced. (Verification and balancing document will be updated and signed.)
10. Deposit made to bank.
11. Returned mail processed into reconciliation file.

Contact Information

Information on all aspects of our current products can be obtained by contacting us using the information below.

Postal address

50 Conyngham St., Ashley, PA  18706-2923

Electronic mail

General Information: ds2000@prodigy.net
Webmaster: ds2000@prodigy.net

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Copyright © 2009 Dynamic Solutions 2000
Last modified: 10/03/09