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what is lockbox in AR any one help me how to define

Hi

Lockbox functionality is basically the customer goes and deposit the moeny directly into your Bank account for the due invoices and the Banker provides a data file to you. You need to have Lock box set up to create a Transmission Format which matches the datafile format in your Instance.

When you run the Lockbox Concurrent process the system checks the datafile and matches the Transmission Format then if it matches it creates receipt in Receivables Module and then applies to Invoices also based on the set up you have made for lockbox

If there is no matching invoice then the system places the amount as unapplied receipt or on account receipt according to your setup.

Hope this helps

Regards
Sivakumar

HI Sivakumar

EXCELLENT EXPLANATION. THANKS A LOT.

REGARDS
HARIHARAN

thanks a lot Sivakumar for explanation.

manpreet.

Auto Lock Box

AutoLockbox automatically creates receipts in Receivables using electronic information that your
bank provides. Receivables let you specify the payment method for each Lockbox you define. Payment methods provide the default accounting information for receipts you create through AutoLockbox.

Examples for Lock Box :

We will be paying our Mobile Bills by dropping a cheque in a Drop Box specific to the operators like Airtel, Idea and Hutch. The banker collects all the Cheques and realizes the Cheques amounts on behalf of the operators. While dropping the cheque the customer at the back side of the Cheque will write his/her mobile number and operator. By this information (like Mobile Number, Customer Name etc.,) all the realized amounts will be send to the Operator through a Flat file or excel file.

Using this Excel or Flat file the mobile operator, using Auto lock-box facility will be taken as Receipts from the customer. This is a regular and routine process.

Other Examples are E-Seva (in Andhra Pradesh), third party collection agents.

Request the team to correct me if I am wrong.

Generally data is imported using Sql Loader or Web ADI.

Regards,
Ram

thax allot to all providing a valuable information

can we possible to see the particular model of the file send by banker. it is possible to download from any site or any having that file. please upload here. It will help allot to all who does't know lock box process like me.

Hi,

Auto Lockbox is a feature that banks offers customer to outsource their receivable payment processing, thus eliminating the manual data entry by processing automatic receipts which is sent directly to bank.

Following are the Steps:

Import: During this step it reads & formats the data from bank file into interface table AR_PAYMENTS_ALL using SQL loader.

Validation: Here it checks the validation and if validated it will transfer to Quick cash tables AR_INTERIM_CASH_RECEIPTS_ALL & AR_INTERIM_CASH_RCPT_LINES_ALL.

Post Quick: Here it will updates customer balance.


Bank File (Submit Import) --> AR_PAYMENTS_INTERFACE_ALL (Submit Validation)

--> AR_INTERIM_CASH_RECEIPTS_ALL,
AR_INTERIM_CASH_RCPT_LINES_ALL (Submit Post Quickcash)

--> AR_CASH_RECEIPTS_ALL, AR_CASH_RECEIPS_ALL,

AR_CASH_RECEIPT_HISTORY_ALL, AR_DISTRIBUTIONS_ALL, AR_RECEIVABLE_APPLICATIONS_ALL, AR_PAYMENT_SCHEDULES_ALL

Regards

Hi Shiv Kumar

A great reply ..

Thanks For Awesome

Hello,

Can anyone send me the documnet for implementing Auto lock box.

Email Address: elakkia1980in@yahoo.co.in