The sample should portray an accurate,
dollar- weighted, geographic distribution of the payments received by
the company. If the sample does not accurately represent the major dollar
locations from which customers are mailing their remittances, it will
invalidate the study. The geographic distribution of the sample is much
more important than whether the month or period had high or low sales.
- Zip Code or State Abbreviation of the mailing location or
Routing Transit Number (RTN) of the check
- Dollar Amount of the remittance
- Current Deposit Location - only needed in the sample if there
is more than one deposit location. Used to monitor the current multi-site
system performance. The optimal lockbox sites selected will not be
impacted by this data.
- Routing Transit Number (RTN) of the check - The most accurate
float measurement results from the use of both zip code for mail origination
and routing transit number for drawee bank identification from individual
- Division - used to analyze or assign lockbox sites by division
or another accounting entity.
- Customer Name - used in advanced analyses to examine payment
practices of individual customers.
- Item Count - The number of items represented in the Dollar
Amount if aggregate data is used.
- Postmark and Deposit Dates - used to monitor the current
receivable system performance. The optimal lockbox sites selected
will not be impacted by this data. This data is difficult and expensive
to gather and requires encoding individual items.
Alternative to Remittance Sample:
The Collection Model's Check Sample Wizard can create a sample when no other source of remittance data is available.
The wizard prompts for the following:
- Current processing site
- Total dollars processed in the time period
- Geographic indication of where remittances originate (by region, state, or Phoenix-Hecht mail origination city)