Oracle Cloud : Receivables : Lockbox process : MICR Number

Summary:

Oracle Cloud : Receivables : Lockbox process

Content (required):

Please share your experience with Lockbox process in Oracle Fusion w.r.t to MICR number (i.e. Transit Routing + Customer Bank Account Number)

Let’s consider scenario where Customer Account or Site level in Customer Master does not have Bank information (Bank, Bank Branch & Customer Bank Account Number) updated.

Now a receipt file is uploaded through Lockbox process & it contains valid MICR details along with valid Invoice number for this Customer. We have observed that in such cases receipt gets created in Unidentified status.

Thereafter we tested 2 more Lockbox scenarios:

1. Removed Transit Routing + Customer Bank Account Number from the receipt file. Result = The receipt got applied to the invoice.