Batch - A group of documents or transactions assembled for processing; in remittance, normally grouped by Singles, Multiples, Coupons Only, and Checks Only (see definitions below).

Coupon - Also referred to as a stub, bill, statement, remittance advice, or turnaround document. This is the portion of the bill sent to a customer that is returned with the check. It has the customer account number and the amount owed on the document, normally in the scan line.

Derogatory File or Item - Also known as a "hot" file or negative file. This refers to an item that is an exception, an account that you may not want to process, generally due to insufficient funds or a closed account.

Exception Item - An item that did not post during application processing and is noted or extracted for further handling.

Hot File or Item - Also known as a exception file or negative file. This refers to an item that is an exception, an account that you may not want to process, generally due to insufficient funds or a closed account. This is critical in the case of a foreclosed mortgage.

Image - A digital electronic representation of a document.

Lockbox - A collection agent, either a bank or third party, used to accelerate the collection of payments.

Multiples - Refers to a transaction that consists of multiple coupons and/or multiple checks.

Remittance - A document that is returned with a payment (check) to the collection department or agent.

Remittance Processing - A broad term for the collection, processing, and posting of payments to customer's accounts.

Retail Lockbox - Remittance processing that deals with payments from individuals. Generally, transactions include a transportable coupon; are normally small dollar amounts and have a high volume of transactions.

Singles - This refers to a transaction that consists of one coupon and one check. A Single transaction can be a full payment or a partial payment.

Transport - A device that processes documents down a track. Transports can include the capability to capture OCR and/or MICR data, perform CAR (Courtesy Amount Recognition), endorse, encode, microfilm, image, and sort documents.

Transaction - A transaction is a group of balanced coupons (credits) and checks (debit). The largest percent of transactions is normally a coupon and a check, however, it can be multiple coupons and/or multiple checks, "checks only", or "stubs only".

Two-Pass Workflow - An imaging workflow that utilizes two passes to process transactions. The first pass serves to capture data and images to be distributed to various workstations (PC's) for keying. Once all transactions in a batch are keyed, balanced, and any additional data has been entered, only the checks are sent through the transport for a second pass to be power encoded.

Wholesale Lockbox - Remittance processing that deals with payments from businesses; generally, includes an 8½ " x 11" document or other non-transportable document as the remittance advise; is normally high dollar, low volume and often includes the need for data entry (keying invoice numbers, check number, payee, etc.) and other special instructions; also requires sending a copy of the checks back to the business for their verification.

Wholetail Lockbox - Remittance processing that combines characteristics of both Wholesale and Retail. A Wholetail account may include both coupons and 8½ " x 11" documents with data entry requirements.