lockbox is a services provided by bank to corporate customers to transfers there payables in receviables so that they can update their balances.
here all the cheque or payments are collect by bank and send a dat file to there corporate so that they can directly transfer that file through interface in their modules (ap ar)
To simplify concept just imagine a comany has a post box where all outside parties say customers can drop cheques. Bank collects all the cheques on company's behalf from so called box (called as lockbox) and performs receipts and sends records on periodic basic in a file to original company. Original company then can autoprocess the records in file in AP and AR.
