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The following are typical processing stages during a working day:
- Application Startup
- Interfaces process CIF, Positive Payment and Stop Payment interfaces. There can be several interface files of each kind during a day.
- User Downloads MICR file (at about 1:00 PM).
- Inclearing system automatically pick uop the MICR data file and the User loads it into the Inclearing database with the function provided. The
load process validates the MICR for Account, Positive Payments and Stop Payments.
- Users can now process most items especially those that are matched to Positive Payments.
- At about 3:30 PM user downloads the Image file from the FRB site.
- Inclearing System picks up the Image file and makes the ties the Images to the MICR data. The images are now available for display along with
the MICR data.
- This is the step where any checks that need visual examination against the image is performed. Suspicious items are marked and sent for
verification.
- After all items are verified and completed at about 4:30-5:00 PM EOD is performed. This step generates the postings Interface file. At this
stage the currents days’ checks are rolled into the history data. The date is rolled to the next working day. The Check data is initialized for the next day. If it is a month end then Check images are
extracted into PDF for every account for account statement to be sent to the clints.
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