POST OFFICE BOX MANAGEMENT

Depositing Funds

When all checks and source documents have been balanced and entered on the batch report, deposits are pared in stacks of a maximum 300 checks. Banks require our deposits to be separated into stacks of no more than 300 checks per bundle. All calculator tapes from balanced stack checks are added together for a grand total. However, only on deposit slip is needed per day, resulting in reduced bank fees to our clients. Next, all prepared stacks of checks are then appropriately endorsed in the primary endorsement area on the back of the checks.

Proof Department

The final step in deposit preparation is check encoding. Our proof and research department has NCR Proof machines that encode each check on the bottom right front corner. MICR numbers are printed in this area, which correspond to the dollar amount of the check presented. At the same time, the secondary endorsement area is endorsed with the bank's endorsement and Federal routing numbers. When a stack of 300 checks is run through the machine, the total of that "run" is compared with the calculator tape of the stack. When a stack of 300 checks is run through the machine, the total of that "run" is compared with the calculator tape of the stack.

If the two "totals" are identical, then the stack of 300 checks is "proofed" and ready to deposit. All banks run every check through their own proof machine but when ACI does this for our non-profit clients, the bank fees are dramatically reduced.

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