Checking your Checks: It is Time to Upgrade to Computer-Printed Checks?

For businesses, business checks are a convenient, efficient, and easy way to conduct business-related costs such as purchasing supplies, giving employee salaries, or paying for services. Business checks are blank forms that are issued by banks to account holders that have specified that the funds contained in the account will be used for the business. Account holders can then simply fill out the form with the necessary information as required and give it to people or other companies that they purchased items or services from. The receiver can then get the check authenticated at the bank, and then receives payment from the aforementioned account number.

            There are generally two types of business checks: manual business checks and computer business checks.

Manual vs. Computer Business Check

            Manual computer checks have been around much longer compared to computer business checks. They were used as early as the 1500’s, but is still very much in use today, especially by individuals and small business owners. As the name implies, a manual business check is a type of business check where the information required, such as the name of the payee and the amount to be received is written down by hand. Manual checks do not require accounting software to be read, and it can be used anywhere, making it perfect for unplanned or impulsive payments.

            Computer business checks are specially-designed checks for computer use. They are created by and used with accounting software such as Quickbooks or Quicken. This type of check is more suited for large businesses that need to issue a high number of checks on a regular basis, such as employee payroll or payment for raw material suppliers. This feature is especially useful if the checks are made out to the same payees; the information simply needs to be entered into the accounting software once and the program will keep the information stored away for future purposes, eliminating the need to enter the same information over and over again. Using computer checks also cuts down on the possibility of computing and accounting errors, which statistically come from human inputs.

What are the Benefits of Using Computer Business Checks?

            Aside from the benefits mentioned above, there are three other benefits that you can enjoy if you use computer business checks.

Quicker Processing Times

            When you use computer business checks, the fact that there is an accounting software that will do all the heavy lifting in terms of processing the check means that the processing time will be cut down significantly. Compared to manual checks that require numerous steps in terms of verification, processing, and cash disbursement, computer business checks will simply get the payment from the payer’s account to the payee’s account much faster.

Lower Accounting Costs

            As mentioned above, using computer business checks makes the accounting process more efficient for businesses because accountants do not need to input the same information over and over every time payroll or purchasing period comes around. This means that the accounting team, as well as the management team, can now focus their time and attention to other aspects of the business, such as improving customer service and managing inventory. It can also pass down these savings to the customers because it offsets the costs of using manual business checks.

Wider Range of Payment Options

            As the practice of using computer business checks becomes more and more widespread, there are also more businesses who accept this as a form of payment. This means that, as a business owner, you can also have computer business checks as a viable way to pay bills, aside from paying in straight cash, using your credit card, or writing manual business checks.

Is Using Computer Business Checks the Right Move for Me?

            The decision between staying with manual business checks or switching to using computer business checks is a decision that can change from one business owner to another, depending on factors such as the size of their business, how regularly they use checks to pay for goods or services, and the cost of acquiring the checks. You can print the checks for yourself, but printing computer checks on your own is very expensive, as you need to purchase both the accounting program and a suitable printer. You can also purchase computer business checks from businesses who specialize in making high-quality computer business checks. As a rule of thumb, if you have a large business with many employees, you might benefit from using computer business checks. Otherwise, you can stay with using manual business checks.

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