Some companies use automated payment processing technology in which paper checks that may arrive at a lockbox are converted into electronic payments then the check itself is destroyed. this process is referred to as

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Arnav Kramer

Business

2 April, 09:59

Some companies use automated payment processing technology in which paper checks that may arrive at a lockbox are converted into electronic payments then the check itself is destroyed. this process is referred to as

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Derick Hughes · Answer 1

The answer in the given statement above is the accounts receivable conversion. This type of process allows an individual to receive the amount that he or she converts from paper check into a real amount when scanned under an electronic machine in which is being described above.