auto lockbox
Posted: Fri Jan 02, 2009 10:56 am
can anybody explain about auto lockbox in ar. what is the use and setups pls
hi,
I think this is use full to you
auto lock box - 1)the process were customers mail payments to a post office box near the remittance bank and the bank deposits the payments in the company's account at regular intervals.
2)bank provides the company with computer files detailing about the receipts and their application.
3)receivables uses auto lock box to import details about receipts directly into the system