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MICR FORMAT
MICR FORMAT

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MICR or Magnetic Ink Character Recognition is the standard identification that is located at the bottom of a check for a bank to identify the source of the funds. This is printed in a special MICR font, and usually with a magnetic ink or toner as well. The MICR font needs to be [installed|MICR Installation] on the report server for it to be generated correctly on the report.
MICR or Magnetic Ink Character Recognition is the standard identification that is located at the bottom of a check for a bank to identify the source of the funds. This is printed in a special MICR font, and usually with a magnetic ink or toner as well.
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There are three main points of identification:
* The [CHECK_NUMBER] which is also printed higher on the face of the check in a more "human readable" form
* The [BANK_TRANSIT_CODE] which identifies which bank holds the funds to be paid
* The [BANK_ACCOUNT] which identifies the account within the bank from which the funds are taken
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[MICR FORMAT/MICR-US.JPG]
There are also four special characters which seperate the data for the bank's automated systems:
* ON-US
* TRANSIT
* HYPHEN
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There are also special characters which separate the data for the bank's automated systems:
\\ [MICR FORMAT/MICR-ONUS.JPG] ON-US character
\\ [MICR FORMAT/MICR-TRANSIT.JPG] TRANSIT character
\\ [MICR FORMAT/MICR-DASH.JPG] HYPHEN character
Although there is a standard for how the MICR format is to be printed, there are several variations on the standard.
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Although there is a standard for how the MICR format is to be printed, there are several variations on the standard. The format is controlled through a [STORED PROCEDURE] in the data base.
!!US Standards
The format as shown above represents the standard format used through the United States banks, with some exceptions. The exceptions usually change the separation between the bank transit code and the bank account, although two formats do additional changes.
;Check Number: The check number is printed as shown on [IPDS] for each check
;Bank Transit Code:This nine-digit field is taken straight from the [BANK_TRANSIT_CODE] field on the [IPBL] screen.
;Bank Account Number:This is the payroll account for the company, from which funds are drawn, and is printed as stored (with hyphens as stored)
The formats are as follows:
[{Table
||Stored Procedure||Space between Transit\\and Bank Account ||Other Changes
| P2K_SPPGMICR_RCID | 0 spaces |
| P2K_SPPGMICR and P2K_SPPGMICR_WW | 1 space | This is the default value in the "stock" check programs
| P2K_SPPGMICR_HED | 2 spaces |
| P2K_SPPGMCR_SOM | 3 spaces |
| P2K_SPPGMICR_WCO | 5 spaces |
| P2K_SPPGMICR_DUS | 6 spaces |
| P2K_SPPGMICR_CLA | 7 spaces |
| P2K_SPPGMICR_GES_BANK_ONE| 9 spaces |
| P2K_SPPGMICR_COM | 2 spaces | __Bank Account__ is formatted as 99-999999...
| P2K_SPPGMICR_LAC | 4 spaces | __Check Number__ is forced to 10 digits
|^ |^ |__Bank Account__ is formatted as the account (less the last two digits), the ON US symbol, and then the last two digits\\i.e. a bank account stored as 123456789012 would print as __1234567890C12__ where C is the ON US character (above)
}]
!!Canada Standards
Canadian banks format the MICR line differently. The most noticeable difference is that the Bank Transit Code is only eight characters long, comprised of a three digit bank number and a 5 digit "transit" or branch number.
;Check Number: The check number is printed as shown on [IPDS] for each check
;Bank Transit Code:This eight digit field is taken straight from the [BANK_TRANSIT_CODE] field on the [IPBL] screen.
;Bank Account Number:This is the payroll account for the company, from which funds are drawn, and should be stored without hyphens, as this will be formatted by the MICR procedure (unless noted otherwise, below)
The formats are as follows:
Examples assume that the Bank Transit on IBPL is 12345678 and the Bank Account on IPBA is 1234567890. Unless otherwise indicated, there is one space between the bank transit code and the bank account.
[{Table
||Stored Procedure ||Bank Transit Format||Bank Account Format||Other Changes
| P2K_SPPGMICR_CANADA | 12345-678 | 12345-67890 |
| P2K_SPPGMICR_ROYAL | 12345-678 | as entered |
| P2K_SPPGMICR_CANADA_TD | 12345-678 | 1234-567890 |
| P2K_SPPGMICR_RPU | 12345-678 | 12-34567890 |
| P2K_SPPGRMICR_CANADA_GN | 12345-678 | 123-456-7890 | 3 spaces between transit and account
| P2K_SPPGMICR_CANADA_EFX | 45678-123 | 1234-567890 |
| P2K_SPPGMICR_CANADA_AGLC | 56789-234 | as entered | 3 spaces between transit and account
|^ |^ |^ | __Check Number__ is appended with a modulus 9 check digit
}]
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![Notes|Edit:Internal.MICR+FORMAT]
[{InsertPage page='Internal.MICR+FORMAT' default='Click to create a new notes page'}]
This page (revision-8) was last changed on 26-Nov-2021 10:22 by RForbesTop