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What is auto lockbox in oracle applications?

Lockbox is a service provided by banks by which your company gets the customers payments directly to a lockbox interface tables and creates receipt for the payments deposited into your account. If you have an Auto Lockbox, the bank records the information that you request such as check number, check amount, numbers and amount for the invoices to be paid.
Oracle provides you with the tools to:
* Oracle interface tables for the data received from the bank
* Validate the data to see if it is accurate, complies with the controls provided
* Correct the data
* Apply the receipts to the customer’s open invoices.

A typical Lockbox transmission contains various different records, each with relevant data. Controls are provided at each level to ensure that the transmission was successful and to verify that the count and dollar amounts are consistent with what the bank indicated. These controls are at the transmission, Lockbox, batch and receipt levels. The records also contain information such as your bank account (by Lockbox) and the details for the receipts the bank received. The Lockbox may be used for checks, wires and any other receipts that you receive. You define what the data from the bank will look like and how you will use it.
Oracle Accounts Receivables Module provides the feature such that the customer can directly make the payment for their invoices in the Bank.The Bank would send a datafile in a  agreed transmission format which we we import in Receivables through AutoLockbox.After successful import the Receipts get created in the final stage.
This is a three step process
1) Validate the data file
2) Import the data file which created the Post Batch
3) Run the Post Batch  (ie Post Quick Cash) which would actually create the Receipts and applies against the Invoice on the Information provided in the data file.
Following are the main tables for auto lockbox


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