Remittance and Check Processing / Accounts Receivable Conversion (ARC)

Designed for the monthly billing company, ARC is used for posting and processing all mailed-in and drop-box checks. ARC allows organizations and businesses to stack all customers remit stubs and checks and scan them for more efficient and faster posting to the accounts receivable billing system (A/R). At the same time, consumer checks are deposited electronically to the bank through the Automated Clearing House (ACH) network. All non-eligible items, such as business checks, money orders, and bank checks, can be processed electronically as Check 21 items.

This process benefits companies and organizations financially by creating huge labor savings while reducing human errors. In addition, “collected” funds are received in your bank account the next business day. Returned checks are received faster as well, and can be handled automatically through NPS’s Electronic Recovery process, making the process much more efficient than the current paper method.

AQURIT 7 automates the receipt of payments regardless of how you receive them. Whether you receive checks alone, checks with coupons, or checks with full page documents, AQURIT 7 scans it all. The system extracts the information you need, balances payments and deposits and builds the payment information into transaction files for posting to you accounting system. AQURIT 7 can even generate Check 21 files to electronically deposit the checks to your bank. Automating the receipt of payments has allowed organizations and businesses to create capacity within their company and move people to higher value activities thus increasing their effectiveness and their revenue.

Features Include:

  • AQURIT 7 software
  • Customized interface to most A/R billing systems/lockbox formats for automatic posting
  • Supports scalable check image readers supported by Silver Bullet’s Ranger driver, which includes NCR, Canon, Digital Check, Panini, and more.
  • CAR (Courtesy Amount Recognition)
  • LAR (Legal Amount Recognition)
  • ICR (Intelligent Character Recognition) to read hand-written amounts
  • OCR (Optical Character Recognition) for better MICR reads
  • Barcode Recognition
  • Images remit stubs and checks
  • Research function to view images
  • Ability to archive
  • Adjustments function for easy reconciliation
  • Multiple sort patterns for single items as well as multiple exception items
  • Convert to ACH or x9.37 Cash Letter