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When a bank receives a check for payment it uses an OCR inscriber to print the amount of the check in OCR characters in the lower-right corner?
When a bank receives a check for payment, it uses an Optical Character Recognition (OCR) inscriber to print the check's amount in OCR characters in the lower-right corner. This allows the check to be processed quickly and accurately by automated systems that read these characters during the clearing process. The use of OCR enhances efficiency, reduces human error, and speeds up transaction processing within the banking system.
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When a bank receives a check for payment it uses an OCR inscriber to print the amount of the check in OCR characters in the lower-right corner true or false?
false
How do you call a person who receives payment?
A person who receives payment is typically referred to as a "payee." This term is commonly used in financial transactions, such as in checks or invoices, where the payee is the individual or entity entitled to receive the funds.
When a person receives an auto insurance settlement payment is the insurance company sending any notice of that payment to the IRS?
Payments of this kind are not taxable at all. This is considered as compensation for a loss of some kind be it injury or property.
When a company receives an invoice demanding payment for goods what 2 documents should they check before paying it?
the receiving document, the remittance advice, and the invoice
What are payment terms before 30 in 2 months due net?
"Payment terms before 30 in 2 months due net" typically implies that the payment is expected to be made within 30 days, but the invoice amount is due in full within two months. Essentially, it means that while the buyer has an initial 30-day period to make the payment, the total amount is ultimately due by the end of the second month. This arrangement allows for some flexibility while ensuring the seller receives payment within a specified timeframe.
When a bank receives a check for payment it uses an OCR inscriber to print the amount of the check in OCR characters in the lower-right corner true or false?
false
Does a payee makes the payment or receives the payment?
Receives. A payee is paid (an employee is employed). A payer pays (an employer employs).
Can an artist receives payments for his tracks streamed in the internet?
Yes, depending which website it is and a contract is signed in which the aide receives payment.
What is meant by Remittee?
a remittee is a person (organisation) who receives a remittance or payment.
How do you call a person who receives payment?
A person who receives payment is typically referred to as a "payee." This term is commonly used in financial transactions, such as in checks or invoices, where the payee is the individual or entity entitled to receive the funds.
Does the seller receive the down payment?
Yes, the seller typically receives the down payment from the buyer as part of the purchase agreement.
The payment a health care provider receives from a third party payer is a?
reimbursment
What does "payable in advance" mean and how does it impact the payment process?
"Payable in advance" means that payment is required before receiving a product or service. This impacts the payment process by ensuring that the provider receives payment upfront, reducing the risk of non-payment or late payment.
Is the legal payment date the date the transaction is initiated or the date the payee receives the payment?
The legal payment due date is the date specified in the contract. The actual payment date is the date the payment is initiated by the payor unless specified otherwise in the contract.
You get paid by check if you get bank charges who pays?
The person who receives the cheque payment (You) pays the bank charges.
Which key term represents a process in which the performing entity receives payment for the billed goods and services?
It is not Billing
What is the process by which individuals have their federal income tax collected?
1. the employer withholds estimated taxes 2. the taxpayer files a tax return the government receives a tax payment or gives a tax refund 3. the government receives a tax payment or gives a tax refund
