Introduction: AutoLockbox is a service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing. AutoLockbox eliminates manual data entry by automatically processing receipts that are sent directly to your bank. You can also use AutoLockbox for historical data conversion.
For example : you can use AutoLockbox to transfer receipts from your previous accounting system into Receivables.
AutoLockbox ensures that the receipts are accurate and valid before transferring them into Receivables.
AutoLockbox is a three step process:
Import: During this step, Lockbox reads and formats the data from your bank file into interface table AR_PAYMENTS_INTERFACE_ALL using a SQL *Loader script.
Validation: The validation program checks data in this interface table for compatibility with Receivables. Once validated, the data is transferred into QuickCash tables (AR_INTERIM_CASH_RECEIPTS_ALL and AR_INTERIM_CASH_RCPT_LINES_ALL). At this point, you can optionally query your receipts in the QuickCash window and change how they will be applied before submitting the final step, Post QuickCash.
Post QuickCash: This step applies the receipts and updates your customer balances. These steps can be submitted individually or at the same time from the submit Lockbox Processing window.
Navigation: AR Superuser/ AR Manage -> Interfaces > Lockbox
After you run Post QuickCash, Receivables treats the receipts like any other receipts, you can reverse and reapply them and apply any unapplied, unidentified, or on-account amounts.
AutoLockbox Process flow
For example : you can use AutoLockbox to transfer receipts from your previous accounting system into Receivables.
AutoLockbox ensures that the receipts are accurate and valid before transferring them into Receivables.
AutoLockbox is a three step process:
Import: During this step, Lockbox reads and formats the data from your bank file into interface table AR_PAYMENTS_INTERFACE_ALL using a SQL *Loader script.
Validation: The validation program checks data in this interface table for compatibility with Receivables. Once validated, the data is transferred into QuickCash tables (AR_INTERIM_CASH_RECEIPTS_ALL and AR_INTERIM_CASH_RCPT_LINES_ALL). At this point, you can optionally query your receipts in the QuickCash window and change how they will be applied before submitting the final step, Post QuickCash.
Post QuickCash: This step applies the receipts and updates your customer balances. These steps can be submitted individually or at the same time from the submit Lockbox Processing window.
Navigation: AR Superuser/ AR Manage -> Interfaces > Lockbox
After you run Post QuickCash, Receivables treats the receipts like any other receipts, you can reverse and reapply them and apply any unapplied, unidentified, or on-account amounts.
AutoLockbox Process flow
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