Virtual Lockbox Check Scanning



The MDS Virtual Lockbox is an integrated check scanning and Remote Deposit Capture (RDC) solution specifically designed to meet the needs of property managers. This system enables you to place all checks and money orders that you receive from your residents into a scanner which sorts your deposits by bank account, updates your accounting system and automatically deposits the funds with your banks while maintaining images of all payment items for easy access from MDS Explorer. Because it is built specifically for property managers and is directly integrated with MDS Explorer, this system stands worlds apart from the generic Remote Deposit Capture system provided by your bank.

Key Features

  • Eliminate the need to sort deposits by bank account, saving valuable time
  • Eliminate manual data entry of resident payments into MDS, increasing accuracy and efficiency
  • Eliminate trips to the bank, for faster availability of your funds
  • Reduce data entry errors through OCR technology and best practice bookkeeping standards
  • Reject payments from residents through an automatically integrated “Stop File”, avoiding costly errors
  • Store images of each payment that you process, enabling fast and easy lookups directly from the MDS Explorer Tenant Ledger

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