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In today's world, many types of payments can be received from multiple sources and need to be posted to the end client's account as quickly and accurately as possible. The question is: How is this accomplished?
A good place to start is with the size and/or industry of your customer (i.e., retailer, small to large corporate, etc.).
To simplify our review, let's assume that all payments are received through a lockbox--either paper, electronic or a combination of both. Very often, lockboxes that are housed internally to a company function much the same way as an outsourced lockbox--especially if the company has invested in the right technology and ...
Source: HighBeam Research, Auto posting of accounts receivable.