Brian Naftzger posted on May 30, 2008 03:49
What is MICR?
“MICR” stands for Magnetic Ink Character Recognition. MICR encoding is a process by which checks are printed using special magnetic ink and font characters to create machine readable information for check processing. As a check travels through the banking system, a reader-sorter machine sends a magnetic charge to the check which allows it to read MICR information very quickly and accurately. Because of this required magnetic charge, the Federal Reserve and all banks require that checks be printed with a special MICR toner (for the curious-minded, the special ingredient for MICR toner is iron oxide - an excellent trivia question next time you’re hanging around the coffee machine). Laser printers with a special cartridge are typically used to print MICR-encoded checks. Using a MICR solution can transform a blank piece of security paper into a complete check with date, payee information, logos, bank identification and the MICR line, along with automated signatures, if desired.
The Benefits…
Organizations that use a MICR check printing application save money and reap the rewards of improved security and flexibility. Since MICR software can print the entire check, there is no need to purchase and securely store more expensive, preprinted check stock. And, without the need for preprinted stock, the risk of blank check theft and related fraud is eliminated. Through password protection, new bank accounts can be easily added or old accounts deleted. Signatures can automatically print on checks, based on dollar limits you establish.
A Great MICR Solution is ready for you!
Mekorma MICR is the only MICR check printing solution created specifically for Microsoft Dynamics GP. The standard Microsoft Dynamics check printing process is seamlessly replaced by Mekorma MICR so there is almost nothing new to learn. If other databases are also used to print checks, Mekorma MICR can be customized to meet these needs. Visit
http://mekorma.com/products/mekormamicr/index.html to view a product demonstration or contact us for more details. There is also an ROI calculator on the website that allows you to enter information specific to your organization and evaluate the type and amount of savings you can experience. Lastly, you can review case studies to learn about challenges other companies faced and their MICR implementation results.
For more information on how Mekorma's MICR solution can benefit your organization please email marketing@nextecgroup.com.