hi
what is the difference between direct receipt and auto lock box.
Direct receipt and auto lock box?
Hi ,
In the direct receipts there r manual & automatic receipts.
Automatic Receipts:
Use the automatic receipts feature to automatically generate receipts for customers with whom we have predefined agreements like the credit card authorizations. This let you collect payments on time by transferring funds from the customer?s bank accounts to our account.
where as lockbox is
Lockbox:
A service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing.It eliminates manual data entry by automatically processing receipts that are sent directly to your bank.
In automatic receipt oits an agreement between u & u r customer where as lock box bank will do service for u later we have to run auto lockbox programm to get data from our bank related that receipts.
Thanking you
Regards
Triveni
In the direct receipts there r manual & automatic receipts.
Automatic Receipts:
Use the automatic receipts feature to automatically generate receipts for customers with whom we have predefined agreements like the credit card authorizations. This let you collect payments on time by transferring funds from the customer?s bank accounts to our account.
where as lockbox is
Lockbox:
A service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing.It eliminates manual data entry by automatically processing receipts that are sent directly to your bank.
In automatic receipt oits an agreement between u & u r customer where as lock box bank will do service for u later we have to run auto lockbox programm to get data from our bank related that receipts.
Thanking you
Regards
Triveni
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