Lock box system
This query is : Resolved
03 October 2012
Any one please explain what is lock box system ?
03 October 2012
Lock box systems are the two ways of collecting cash from the debtors. Through this they could efficiently manage there collection system.
In lock box system the entity puts its boxes at generally visited public places so that public can deposit their bills in the boxes and later on an authority from entity will come and deposit in the bank.. In this way people can easily deposit there debts.. It is mostly preferred by mobile companies.
The cost of operating this type system is also less as compare to regional collection offices.
In lock box system the entity puts its boxes at generally visited public places so that public can deposit their bills in the boxes and later on an authority from entity will come and deposit in the bank.. In this way people can easily deposit there debts.. It is mostly preferred by mobile companies.
The cost of operating this type system is also less as compare to regional collection offices.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
