Electronic check presentment system and method having an item sequence capability

A computer-implemented method of processing banking transactions comprising:

• receiving at a computer memory an electronic cash presentment (ECP) file, the ECP file containing first records representing paper-based banking transactions;
• for each of the first records, assigning a unique first item sequence number to each respective first record using a computerized sequence assignment module;
• receiving the paper-based banking transactions after having received the ECP file;
• generating second records representing the paper-based banking transactions using a computerized record assignment module;
• generating digital images of the paper-based banking transactions;
• for each of the second records, assigning a unique second item sequence number to each respective second record using the computerized sequence assignment module;
• correlating the first and second records using a computerized correlation module;
• and
• electronically discarding the second item sequence numbers such that the second records are indexable according to the first item sequence number wherein the second records and the digital images are linked to the first records by the first item sequence number.