Auto Lockbox in Fusion Receivables
Auto Lockbox eliminates manual data entry by automatically processing receipts that are sent directly to your bank. The Oracle AR module provides a capability to automate your lockbox process by integrating with the bank. Oracle Cloud can consume the lockbox file that banks share and create receipts automatically for different customers using this data. These receipts can then be applied to the corresponding transactions based on the Auto-Match and Auto-Cash rule sets. Thus, it eliminates any requirement for manual intervention. Advantages Process Receipt Batches daily basis Speedup Collection Process Convert receivables into Cash more effectively Lockbox Process has three steps: Import Data : Lockbox reads and formats the data from your bank file into the interface table from the data uploaded using the Receivables Standard Receipt Import FBDI Template. Validate Data : Lockbox validates the data in the interface table for compatibility then transfers the data to the receipts tabl...