L

Legal entity
An organization that represents a legal company for which you prepare fiscal or tax reports. You assign tax identifiers and other relevant information to this entity.

Lockbox
A service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing. Lockbox processors set up special postal codes to receive payments, deposit funds and provide electronic account receivable input to corporate customers.

Lookups
In Oracle Receivables, codes that you define for the activities and terminology you use in your business. These codes appear in lists of values in many Receivables windows. For example, you can define Lookups for personal titles, such as ’Sales Manager’, so you can
refer to people using these titles.
In Oracle Payables, a feature you use to create reference information you use in your business. This reference information appears in lists of values for many of the fields in Payables windows. There are three basic kinds of Lookups: supplier, payables, and employee. With Lookups you can create Pay Groups, supplier types, and other references used in Payables.