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Electronic Remittance Processing

An optional service, commonly referred to as “lockbox”, includes mail opening of documents, electronic capture of remittance data, and payment deposit. Electronic payment posting eliminates the need for manual input of payment information. Accounts are automatically updated, providing same day access to account payment information. Checks are deposited directly into your account and the pre-encoding or Check21 processing of checks reduces associated bank fees.

By allowing TaxSys, an experienced Remittance Processing System (RPS) provider, to handle payments, the Bureau will benefit from substantial savings in labor and operational costs, while enabling renewed focus on critical tasks including taxpayer service. This service also allows for the expedited processing required by ACT32. The ability to electronically process checks, post payments, transfer funds, and capture digital images of the checks/subs, allows us to provide fast, accurate payment processing for your Bureau. Utilization of high-speed, state-of-the-art equipment, enables processing at rates approaching 9,000 transactions per hour. All of which is seamlessly integrated with the TaxSys system.

Print and Mail

Another fully integrated aspect of our system is our Print and Mail capacity. The system can generate all of the necessary forms for tax collection in formats that optimize processing with OCR and Remittance Processing technologies. Color-highlight laser printing allows for custom form design and printing, ensuring that your tax forms can be processed in the most efficient way possible. High-speed intelligent inserters are used to accurately insert tax forms at rates up to 12,000 per hour. Logos and return addresses can be printed on the envelopes in-line, eliminating the need for expensive pre-printed stock.

All mailing are run against the Postal Service databases for address correction purposes. Correcting addresses before they are sent out the door prevents costly returned mail and file maintenance. It also allows the mail piece to get to the intended recipient on the first attempt, reducing overall mail volume. By presorting your mailing and adding postal barcodes/endorsements to your customers’ addresses, we can generate substantial postage savings. Imagine reducing your postage expenses by 25%. In fact, this service, alone, often pays for our services!

Document Imaging/Electronic Archival Storage

Another service available is the mail opening and scanning of tax forms, W-2’s, and schedules. The use of Optical Character Recognition (OCR) to electronically extract data from all types of forms enables increases in efficiency for not only the data entry process, but also for the downstream auditing and processing.   OCR can reduce data entry time by up to 90%, allowing your staff to focus on critical tasks such as customer service.

The images of the scanned documents are also available to users for reference during the taxpayer audit and while answering taxpayer questions. Document conversion creates efficiency by streamlining information within your organization. Images are indexed with pertinent retrieval information, allowing for instantaneous document retrieval by authorized users from their local desktop.