
AutoLockbox (or Lockbox) is a service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing. A lockbox operation can process millions of transactions a month. AutoLockbox eliminates manual data entry by automatically processing receipts that are sent directly to the bank.
AutoLockbox is a three step process:
1. Submit Import: During this step, Lockbox reads and formats the data from your bank file into AutoLockbox tables using an SQL *Loader script.
2. Submit Validation: The validation program checks data in the AutoLockbox tables for compatibility...