Auto Lockbox in Fusion Receivables

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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 tables.
  • Post Receipts: Lockbox applies the receipts to transactions and updates the customer balances.
High-level Flow of Integration for Auto Lockbox
  • Bank usually send the data in BAI2 which is Oracle Standard format. If client has a requirement to get the data in different format, that can be customized
  • Bank sends all the receipt information with all transactions to client in BAI2 format. It is basically placed in Client SFTP Server
  • There are some schedule jobs which go and bring the from third party applications to Staging Tables
  • The data fields get mapped, whatever file we are receiving from the source(Bank), those particular fields should match with our format which is supporting SAAS application(BAI2 format). Once we move the data from SFTP server to Staging table, it will get automatic integration to validation.
  • Once that is completed and then integration has the capability to generate CSV file with Zip format.
  • File automatically gets triggered to UCM through Integration.
  • ESS Job: Load Interface File for Import: This program extracts the data from UCM Server and keep the data into open interface tables to get the data to base tables. 
  • Import Process: Process Receipts Through Lockbox: 
  • Apply Receipts: Finally receipts are created in Fusion Application

Setups Required

These are the configurations required to process customer receipts through Lockbox process.
  • Setup Bank Account
  • Create Receipt Method
  • Create Receipt Source
  • Define Lockbox
  • Manage Transmission Format for Lockbox (ex BAI2, EDI etc)
  • Application Rule Set
  • Automatch Rule Set
  • Auto Cash Rule Set

Auto Lockbox Testing Process

When there is no integration, how to test the process
  • Download Standard Receipt FBDI Template
  • Update FBDI Template 9 Sheets
  • Place the file in UCM (this is optional)
  • Run Load Interface File for Import
  • Run Process Receipts Through Auto Lockbox
  • Check in Lockbox Transmission History
  • Check Manage Receipts


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