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A substitute check (also called an Image Replacement Document or IRD) [1] is a negotiable instrument that is a digital reproduction of an original paper check.As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check.
Most automation software today integrates into common organizational ERP systems such as SAP, Microsoft, and Oracle. [5] In an automatic process, once the data is extracted or captured from the invoice the data is sent into the system for automatic matching against the purchase order. This matching process can compare just the invoice data with ...
IDoc, short for Intermediate Document, is an SAP document format for business transaction data transfers. [1] Non SAP-systems can use IDocs as the standard interface (computing) for data transfer. [2] IDoc is similar to XML in purpose, but differs in syntax. Both serve the purpose of data exchange and automation in computer systems, but the ...
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
A clearing account is usually a temporary account containing costs or amounts that are to be transferred to another account. An example is the income summary account containing revenue and expense amounts to be transferred to retained earnings at the close of a fiscal period. [1] Other example of clearing account is excise clearing account.
A reclass or reclassification, in accounting, is a journal entry transferring an amount from one general ledger account to another. This can be done to correct a mistake; to record that long-term assets or liabilities have become current; or to record that an asset is now being used for a different purpose (e.g. lands becoming investment property intended for resale, rather than as property ...
The document would be inscribed: Inscribing was the process of printing the value of the document onto the document, so it could be electrically read back by either the proof machine or a reader/sorter. The document would be endorsed: Endorsing was the processing of stamping the document, either on the front or the back or both.
The rise of globalization has exponentially increased the necessity for agencies such as the Mergers and Acquisitions International Clearing (MAIC), trust accounts and securities clearing services for Like-Kind Exchanges for cross-border M&A. [citation needed] On a global basis, the value of cross-border mergers and acquisitions rose seven-fold ...