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I'd suggest you start with the Oracle white paper Oracle Order Management Freight & Special Charges and Converting Freight Costs into Charges with Basic Pricing which has some similar scenarios to your own described therein.
It's not clear exactly what your requirement is: do you hold the estimated freight charge against the sales order and so include it with the acknowledgement? Is it feasible for you to manually or via an interface from your 3rd party apply the actual freight cost to the delivery in your EBS system? If so, the white paper will give you some clear ideas on how you can replace the estimated freight charge from the order with the actual freight charge applied at shipping and which you will be passing to Receivables (one small caveat here - the setups Oracle give here don't work for configured items).
Thanks for your feedback. Actually we are looking for Actual Freight estimate calculation in Oracle instead of using a third party software. The actual freight cost is based on the no. of cartons shipped, weight of the items, quantity of items, distance of the zone(the whole geography divided into various zones), regions from the Warehouse etc. We are looking for a actual freight calculation which is as close to estimate.
You can calculate any charge automatically in Advanced Pricing as long as you have a set of consistent rules and background info that you can apply via modifiers and formulae etc.
I can see one problem you might have being predicting ahead of time how many cartons you intend to use. The zonal distance can be handled using the regions and zones functionality in shipping + a custom pricing attribute. Weight nett of packing shouldn't be a problem either.
You'll have to give it a try and see how close you can get estimate to actual...