Paper Checks vs. eChecks: What Are the Key Differences?
As a small business owner, one wants to maintain a competitive edge while keeping up with current technological advances. Therefore, it is essential to offer customers a variety of payment options for their purchases. Some may struggle to fully comprehend the differences between paper checks and e-checks. To clarify this, the following article will highlight […]
What is Accounts Payable? A Guide for Businesses
Accounts payable are defined as a liability to a creditor. It can be carried on an open account, which is typically used for the purchase of goods and services. When a company opts to buy goods and services on credit, it is called an account. You might know it by the name of credit. Whoever […]
What Is an Electronic Check? All You Need to Know
Making payments electronically is one of the technological gifts we can enjoy in the present day. In fact, most people already utilize electronic payment systems without knowing it. Gym memberships, for example, are often referred to as automated payments, but they are actually fulfilled via electronic checks. While eChecks are easy to use and understand, […]
What Are Bank Routing Numbers? A Complete Guide
Just like you have nine digits assigned to your identity, your bank account has nine digits to identify it and cement its association with you. This unique numerical string is known as your routing number. While routing numbers are typically discussed only when sending or receiving money to your bank account, they have a rich […]
What is RDC Deposit? A Guide to Remote Deposit Capture
The establishment of the Clearing for the 21st Century Act, widely known as the Check 21 Act, has, as we previously noted, introduced a variety of conveniences in America’s everyday money movement. The process of mutual check clearing among banking institutions has started relying significantly on electronic, as opposed to standard, physical check copies. However, this […]
Check by Fax: A Modern Approach to Payments?
Can you fax a check? Yes! In fact, one of the most common ways today to send a check is by fax, and it is an excellent option for secure delivery to a check recipient. In fact, sending and receiving checks by fax is one of the most preferred ways for companies to accept payments. […]
What Is a Positive Pay System? How It Protects Your Business
Check-related fraud has been around since the inception of using checks for extending funds. Many individuals, businesses, and companies have experienced fraudulent behavior, such as check kiting and other forms of scams. As a result, most banking institutions’ Cash Management departments offer the Positive Pay System. This automated tool’s main purpose is fraud detection and […]
Why Outsource Bookkeeping? Benefits for Your Business
There is no doubt: it is very challenging to lead any sort of business, regardless of its size and influence. Several factors, including not circulating the same amounts of money as large businesses, understaffing, and having multiple types of work at a single job position, can turn an otherwise exciting and fulfilling experience of being […]
Printing Checks from Quickbooks Online – How to Do it?
There is a lot to be thankful for in the era when the automatization made almost every aspect of our daily lives exponentially simpler, faster, and less of a pain in the neck. Bookkeeping and accounting, as an utterly significant branch of every business imaginable, prospered incomparably with the introduction of the computer systems. Quickbooks […]
Check Clearing for the 21st Century Act – What is Check 21?
On October 28th of 2003, Federal law implemented a new act under the 108th Congress of the United States – an act that would, with the day of its effect inception exactly a year later, completely revolutionize America’s everyday monetary policy and overall extending of funds. We are, of course, talking about The Check Clearing […]