PNC Bank Offers Quickbooks Integrated Online Deposit Service

With this service, being offered this month by PNC and BankServ in a pilot program, small business owners feed paper checks into a scanner and send electronic images of them from an ordinary desktop or laptop PC to PNC, any time of day. The bank then converts the checks to paper substitute checks and deposits them into the business owner’s account. With the QuickBooks interface, the software also automatically matches payments to invoices and keeps users’ books balanced.

"The major time and cost savings of remote deposit provided by PNC’s treasury management division to middle market and large corporations are now accessible by even the smallest business," said Jeffrey Schmidt, who oversees PNC’s small business banking division. "This is another way we help our customers to bank with ease and confidence. This eliminates trips to the bank and simplifies their accounts receivable duties to free up more time for business."

In a survey of small business owners, PNC learned that nearly 4 out of 10 visit their local bank branch at least once a day. At the same time, 78 percent view the location of their branch as important or very important.

With PNC’s new service, the scanner simultaneously captures both sides of each check. The checks are converted to digital images that can be verified and edited on-screen, then automatically matched with invoices and customers in QuickBooks and stored in a searchable database for future research and audit trail.