A running total of all deposits made to a Lockbox Account (either at an Account Level or Account Details Level) within the Cycle Period, as set up during Lockbox Preformat Creation. At the end of the cycle, the cycle resets (starts over) and the Account Cycle Total is set to zero.
For example, if a customer has a three-day cycle period:
|
Reported Date |
Deposit |
Account Cycle Total |
|
8/3 |
5,000 |
5,000 |
|
8/4 |
2,000 |
7,000 |
|
8/5 |
7,000 |
14,000 (end) |
|
----------------- New Cycle Starts ----------------- |
||
|
Reported Date |
Deposit |
Account Cycle Total |
|
8/6 |
2,000 |
2,000 |
|
8/7 |
4,000 |
6,000 |
|
8/8 |
3,000 |
9,000 (end) |