Collection Item Types
- Incoming Items
- Outgoing Items
- Cash & Non Cash Items
- Foreign & Domestic
- Complete User Definition Of Any Item Types
- Documentary Items
- Foreign Drafts
- Coupons
- Foreign Checks
MIMICS Documentary Collection System Overview
MIMICS Documentary Collection System makes the processing of documentary items easy, while providing all of the features you need for your department. The system handles the entire processing from presentation of the item through receiving and making payments, and items are maintained for a period of time defined by the user.
The system processes any number of user-defined items, such as incoming and outgoing documentary collections, foreign drafts, and other domestic items. A cover letter is printed containing all of the information on the item, including the related documents. When your customer calls to track down the item's status, you can find the information immediately while you are on the phone.
All parties are kept on file for future use to eliminate re-entry of the information. If you have a party to the transaction that you will use only once, it can be added temporarily. This will save space on your hard drive beyond the time required.
The system creates cover letters for documentary items, and additional documents can be easily prepared. The system also creates tracers, receipts, and a wide variety of reports. Since an outgoing item from one bank is an incoming item for another, letters can be exported from one bank and imported to the other to save entry time. This is especially helpful for banks within the same holding company.
Fees can be charged or billed. Billed fees can be invoiced at a later date (for example, monthly). All transactions can be posted to your GL and/or DDA system, eliminating error-prone and time-consuming manual entries. Payments by check can be printed on blank safety stock using micr toner. Deposit slips, debit advices and credit advices can also be printed with micr encoding.
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