Rentec Direct offers a convenient feature allowing clients to print scannable deposit slips directly from their Rentec Direct accounts. Banks rely on MICR technology to recognize account and routing numbers, streamlining the deposit process. By using specialty paper and MICR ink, these slips can be read by banks’ scanning devices, saving time at the bank. Clients must provide the correct deposit slip routing number and follow specific printing instructions for optimal results.
Did you know you can print scannable deposit slips directly from your Rentec Direct?
With Rentec Direct’s printed deposit slip feature and the correct pre-perforated paper, your bank can use their scanning devices instead of manually keying in the numbers, allowing you to save time at the bank on your busiest days.
How Printed Deposit Slips Work at Banks
When a bank scans a deposit slip or check, their scanning devices rely on special font and magnetic ink for recognizing account and routing numbers. Banks use a technology called, MICR (magnetic ink character recognition), to read the special ink, which is sensitive to magnetic fields, to verify the legitimacy of the documents. Additionally, the account and routing numbers must be printed in a precise place on the document so that the scanner can read it correctly.
Banks implement this system to reduce time spent manually keying in these numbers while the customer waits. Rentec Direct provides MICR standard deposit slip printing, after following the setup procedure detailed below.
Be aware that aside from entering the correct deposit slip routing number, the rest of the steps are optional. You can continue printing your deposit slips on plain paper with standard ink, and the bank will process them manually. The additional steps using specialized paper and ink only apply if you want the bank to automatically scan your deposit slips.
Provide a Correct Deposit Slip Routing Number
Find a deposit slip that came with your business checkbook. The deposit routing number will be the leftmost of the two number sets. It may be different from the routing number on your checks.
Get the deposit routing number from a deposit slip, not a check
To enter the deposit slip routing number
In your Rentec Direct account
- Click on Banking
- Right-click on the bank account and select Edit Account
- Under Account Numbers, enter the Deposit Routing # indicated on the deposit slip
- Click on Save Changes
Order Pre-Perforated Paper
The bank’s scanners are looking for the MICR numbers in a precise location. Rentec Direct prints the numbers correctly for a sheet of paper that is cut at exactly 3.5 inches down from the top edge.
Deposit slips (and business checks) compatible with Rentec Direct software are available through most office supply stores.
One of our integration partners, Nelco, also offers compatible products. See more details here Nelco’s Compatible Products.
Print with MICR Ink
MICR (magnetic ink character recognition ) is a specialized ink that contains iron oxide, which allows the bank’s character reader to magnetize it. It is available for inkjet and laser printers and can be purchased from most office supply stores.
Additional printing instructions will always be available in your Rentec Direct account. On the Make Deposit page, click the “Printing Instructions” button for more details and new information.
Have A Feature Request?
Our goal is always to make landlords’ and property managers’ tasks simpler, quicker, and more efficient. One of the ways we accomplish this is by listening to you and your feature requests. If there is anything you would like to see added to enhance your Rentec Direct experience, send your ideas and suggestions to success@rentecdirect.com or call the Success Team at 800-881-5139. You may see your idea as a New Feature or Enhancement.
Rentec Direct is an award-winning property management software serving landlords and property managers across the United States. Features include online rent payments, tenant and owner portals, one of the industry’s largest vacancy listing syndication networks, full property, tenant, and owner accounting, 1099-MISC reporting and more. Rentec Direct was recognized as Real Estate Company of the Year in the 2024 American Business Awards®, and was named the Most Customer Friendly Companies of the Year in the 2023 Best in Biz Awards, has been named to the Inc. 5000 List of Fastest-Growing Private Companies for seven years in a row. http://www.rentecdirect.com
