Pavan

• Oct 5th, 2005

 

when you want to load receipts from legacy system to oracle apps, you use Lockbox concept.

mohit malik

• Oct 24th, 2005

 

lockbox is a services provided by bank to corporate customers to transfers there payables in receviables, so that they can update their balances.

here all the cheque or payments are collect by bank and send a dat file to there corporate so that they can directly transfer that file through interface in their modules (ap,ar)

Kiran jadhav

• Apr 19th, 2007

 

To simplify concept, just imagine a comany has a post box where all outside parties say customers can drop cheques. Bank collects all the cheques on company's behalf from so called box (called as lockbox) and performs receipts and sends records on periodic basic in a file to original company.
Original company then can autoprocess the records in file in AP and AR.