Posts Tagged ‘controls lockbox’

Controls for Lockbox Receipts

Posted on February 5th, 2008 by by admin

A lockbox is essentially a separate mailbox to which deposits are sent by customers. The company’s bank opens all mail arriving at the lockbox, deĀ­posits all checks at once, copies the checks, and forwards all check copies and anything else contained in customer remittances to the company. The bank may also scan the checks and [...]