News Flash!
... mandatory cheque changes?                                    
Contact Britec for cheque customization

Britec "Q & A"

Q: Who says Canadian Companies must change Cheque Specifications?
The Canadian Payments Association (CPA) has published new specifications
for Canadian cheques.

Q:   Will my computer accounting program be able to easily adapt to the new changes?A:   Britec has Crystal certified consultants to adjust your cheques. For those running
Accpac or BusinessVision you use Crystal Reports technology to print cheques and,
we guarantee Britec can adjust the cheque layout to suit the new standard. 
 
Q:   How much will this cost?
A:   Budget for approx. 1 hour (max. 2 hours) of consulting time to program the change. Also, contact your cheque supplier for pricing information on replacing your cheques.Citrix software applications makes it easy for our consultants to train you on your system remotely.
 
Q:  What is the main reason for this change?
A:   Banks use high speed electronSic scanning equipment to read cheque information, and a standardized cheque layout enables the equipment to process cheque electronically instead of using data entry by people.  The industry will save costs and improve productivity.  We may also guess that it will help the banks make more money (good if you have stocks or Mutual funds that include the banking sector).
 
Q:  When should we change our cheques?
A:  We recommend anytime between NOW and December 31 2006.  It's best to get this done early to avoid the deadline rush.

CPA Issues New Cheque Specifications in
Preparation for Cheque Imaging

The Canadian Payments Association (CPA) has published new specifications for Canadian cheques in preparation for the transition to image-based clearing.  Under the new specifications, all cheques used by customers of financial institutions operating in Canada will require some changes.  The new specifications, as outlined in CPA Standard 006, Part A.are necessary to ensure that high-quality cheque images can be captured, both for clearing purposes and for delivery to clients, and to enhance processing efficiency.

 
All Canadian business cheques should conform with the new specifications
as outlined by December 31, 2006.

Please refer to the Canadian Payments Associations website for full cheque specifications.

New Cheque Format Example

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