AR AutoLockbox

AutoLockbox (or Lockbox) is a service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing. An AutoLockbox operation can process millions of transactions a month. AutoLockbox eliminates manual data entry by automatically processing receipts that are sent directly to your bank. You specify how you want this information transmitted and Receivables ensures that the data is valid before creating QuickCash receipt batches.

In more simpler words, Autolockbox is a program available in Oracle Receivables which helps you import payments or receipts. In real world, Banks would provide datafiles which would have information about the payments made by customer’s. Receivable’s autolock box program would help you in importing information from these datafiles into your system

Steps for Lockbox are:

1) Import: The first step involves reading and formatting data from your bank file into AutoLockbox tables. Basically here, a loader program loads data into

AR_PAYMENT_INTERFACE_ALL table

2) Validation: The second step involves submitting the validation program which checks data in the AutoLockbox tables for compatibility with Receivables.

Once data is validated, it is transferred into QuickCash tables. At this point, you can optionally query your receipts in the QuickCash window and change how they will be applied before submitting the final step.

This step moves the data into AR_INTERIM_CASH_RECEIPTS_ALL and AR_INTERIM_CASH_RECEIPT_LINES_ALLtables

3) Post QuickCash: Submitting Post QuickCash updates your customer’s balances. Match is Found or Not Found, Status will be UNAPPLIED.

A matching number can be a transaction number, consolidated billing invoice number, sales order number, purchase order number or another, custom defined number.

This moves the data into the AR base tables like- AR_CASH_RECEIPTS_ALL, AR_RECEIVABLES_APPLICATIONS_ALL, AR_CASH_RECEIPT_HISTORY_ALL

 

4) Action: After a receipt is successfully imported into Receivables, you can apply, reverse, remit, or place it on account, just like a manually entered receipt

Transmission format

1) AutoLockbox uses the transmission format you specify in the Submit Lockbox Processing window to ensure that data is correctly transferred from the bank file into the AR_PAYMENTS_INTERFACE_ALL table.

2) Transmission formats contain information such as the customer number, bank account number, the amount of each receipt to apply, and transaction numbers to which to apply each receipt

3) Two Windows are important while doing this interface as below

• QuickCash window

• Maintain Transmission Data window

(Receipts that fail validation remain in the AR_PAYMENTS_INTERFACE table until you manually correct errors using the Maintain Transmission Data window)

4) After a receipt is successfully imported into Receivables, you can apply, reverse, remit, or place it on account, just like a manually entered receipt .

/