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Magnetic ink character recognition code, known in short as MICR code, is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents.
The ERMA logo. ERMA (Electronic Recording Machine, Accounting) was a computer technology that automated bank bookkeeping and check processing.Developed at the nonprofit research institution SRI International under contract from Bank of America, the project began in 1950 and was publicly revealed in September 1955.
Data encoder. A code is a set of symbols or signals that usually represent alphanumeric characters. When data are encoded, the characters are translated into machine-readable code. A label or tag containing the encoded data is attached to the item that is to be identified. Machine reader or scanner.
Invoice processing : involves the handling of incoming invoices from arrival to payment. Invoices have many variations and types. In general, invoices are grouped into two types: Invoices associated with a company's internal request or purchase order (PO-based invoices) and; Invoices that do not have an associated request (non-PO invoices).
UML class diagram depicting a invoice. Electronic invoicing (also called e-invoicing or einvoicing) is a form of electronic billing.E-invoicing includes a number of different technologies and entry options and is usually used as an umbrella term to describe any method by which a document is electronically presented from one party to another, either for payment [1] or to present and monitor ...
Invoice factoring companies can help improve a small business’s cash flow. These companies purchase your unpaid invoices, giving you anywhere from 70 percent to 90 percent of the invoice’s ...
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