MICR Customization for Outgoing Cheques in SAP ByDesign
SAP ByDesign has the option of generating out going checks with all related payment/Payer/Payee details. The usual print format on A4 sheet is accepted in banks all over the world. User must buy pre-printed personal checks with MICR code format with Payer detailed address and check number. SAP ByDesign check template available will be adjusted to fit Payee and other payment details. This is a tedious and difficult job which goes back and forth from bank to customer for multiple iterations. This tough work can now be replaced by Latest technologies available mingled together with SAP ByDesign to generate and measure the MICR checks with in ByDesign itself.
With the latest available XML/PDF technology blended with SAP ByDesign, SAP check templates can be customized to generate MICR code by itself and can be measured with measurement gauge according to bank standards and then the printed check will be sent to bank for MICR check testing.
What is MICR:
MICR code is a code printed on cheques using MICR (Magnetic Ink Character Recognition technology). This enables identification of the cheques and which in turn means faster processing. An MICR code is a 9-digit code that uniquely identifies the bank and branch participating in an Electronic Clearing System (ECS).
Elfring Gauge testing:
Customized template generated check can be tested inhouse with available measurement gauge according to respective bank standards.
Types of MICR Testing in bank:
There are various types of parameter/optical/image testing performed to pass the MICR check due to security reasons.
ByDesign Check Generated MICR check which passed testing:
This can be directly forwarded to bank for testing.
This is hassle free approach and has many of the below benefits.
- Cost of the pre-printed check can be reduced.
- Alignment and fit band issues of pre-printed check can be avoided.
- Iterative check pass testing from bank can be limited to minimum time.
- Any time print and ready to pass testing with gauge measurement.
- Almost all the bank standard MICR codes can be customized.
- Proven passed standard optical and image testing for number of banks.
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