During college, I took a part-time job working as a bank teller, so I know a thing or two about the lengthy lines that form in any given branch of your local bank each afternoon. It can be a stressful status quo for everyone involved, while hundreds of thousands of dollars change hands in a matter of hours. From my experience, the majority of those customers were making business deposits, with sizeable bundles of checks and money orders. All that time spent in line—on the clock—while tasks pile up back at the office… Needless to say, we feverishly counted and batched their deposits, getting them back to work as quickly as possible.
Back at the office, the funds are headed to your bank account, but the work isn’t quite finished, is it? Update each tenant’s account to reflect their payment, and attach a copy of the check—provided you have a flatbed scanner and remembered to scan the checks before heading to the bank—and reconcile your business accounts in Rent Manager to complete the process. All told, hours can be spent on daily deposits alone.
For personal finances, our banks’ mobile apps make the process as easy as snapping a photo of the check and we’re on our way to deposited funds in no time. Mobile technology and the onset of remote deposit capture (RDC) transactions—made possible by the Check 21 Act—have made the bank line a thing of the past for most casual bankers. For Rent Manager customers, it’s integrated check scanners and magnetic ink character recognition (MICR) technology that provide the key to transforming the way checks are handled for your office.
We offer a variety of Epson CaptureOne check scanners to our users, available in single-feed and multi-feed options to fit the needs of every business and seriously streamline the receivables process. Seamlessly integrated with your Rent Manager database, these check scanners can help you process your deposits, update tenant records, and adjust bank balances in a matter of minutes.
For smaller offices, a single-feed check scanner will work great. But for offices that receive and process hundreds of checks and money orders a week, you might want to consider one of the multi-feed models, offering scan speeds of 30, 60 or 90 documents per minute (DPM).
Get more information about Rent Manager-integrated Epson check scanners below, and contact your sales representative today to decide which option works best for you and your business!