Allows users to make check deposits electronically without visiting bank branches
Panini, a global payments processing services, has launched check scanners for use with QuickBooks 2010 and Intuit Check Solution for QuickBooks.
Panini check scanners have been designed for remote deposit capture (RDC), enabling QuickBooks users to quickly scan multiple paper checks into QuickBooks while simultaneously sending the ‘digital check’ to their bank for electronic deposit.
Intuit Check Solution for QuickBooks captures the check information and enters it into accounts receivable within QuickBooks. At the same time, it automatically matches check payments to invoices and archives the information. The solution is RDC compatible allowing users to make check deposits electronically, without any change to their current banking relationship, eliminating the time spent taking check deposits to the bank branch.
The scanner captures all the information necessary for account reconciliation and electronic deposit – front and back check image, MICR (magnetic ink character recognition), OCR (optical character recognition).
Doug Roberts, president of Panini North America, said: “We are very excited to offer small businesses the ability to use our Panini scanners to scan checks directly into QuickBooks. Small businesses will benefit greatly from this new technology in terms of operational efficiencies, cost savings, and improved cash flow.”