You may be wondering if you need KID and OCR?
KID stands for Customer identification and is a number generated per invoice. This is to identify which invoice and which customer the payment applies to. Not everyone needs a KID, although it is very nice to have. You get the payments registered directly inside the accounting system without even having to open the online bank. It is most useful with KID if you have many invoices with the same or similar amounts, so that they can be difficult to distinguish between payments. If you e.g. sends out a fixed membership fee to hundreds of members at the same time it is ideal to have KID.
Now you may think KID is okay to understand, but what is OCR?
Before all payments were made digitally, a giro form was used. A giro form is a template with fields for different data that should be read by a machine, with just OCR (Optical character recognition). Although the KID number input systems have gone digital, parts of the terminology still linger. Therefore, the list we receive with the recognition of KID numbers is still called an OCR file to this day.
How do KID and OCR work?
Once you have activated and set up KID and OCR at the online bank and in Catacloud, we will generate KID numbers that are sent with the invoices you create in the system. When a customer has to pay and enters the KID number on the invoice you have sent, your bank will register this payment and notify your accounting system. With us, we receive a list of payments and KID number several times a day. The invoice is automatically set as paid with the registered amount paid and the date from the bank.
You are required to have an agreement with the bank, as well as an activated KID number in Catacloud to achieve this. If you do not have an agreement with your bank, but are trying to activate KID in Catacloud, we will send a request for you to your bank, so that they can help you get an agreement in place.
KID is an extra service in Catacloud and you can see more about price in the price list spring.