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 an era where automation has made many aspects of daily life simpler, faster, and more efficient. Bookkeeping and accounting are important parts of every business, and both have improved significantly with the use of modern software systems. QuickBooks Online helps businesses manage accounting, bookkeeping, payments, and […]
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 […]
e-Check vs ACH Payments – Which is Better?
New payment methods are emerging constantly with the rise of technology and automation. And while there is a palette of choices on how to handle and extend your finances, among the most popular ones, and for a good reason, are ACH and e-Checks. Keep reading – we are here to help you get familiarized with […]
What Are eStatements? Benefits and Drawbacks
Signing up for paperless statements saves time, space, and trees; however, we cannot help but ask – is it completely worth it? Once you go paperless, your statements will not be delivered to your mailbox. Instead, you will be getting them in your email inbox. Read along – we’ve prepared some pros and cons regarding […]
What is a Substitute Check?
Substitute checks are copies, normally electronic, of a standard paper check. The enactment of the Check Clearing for the 21st Century Act (The Check 21 Act) on October 28th of 2003 began allowing the U.S. citizens to practice check truncation, a process of extending electronic copies of checks in order to eliminate needs for physical […]
What is the Check Kiting Fraud?
Bank deposit fraud is a frequent crime happening with many banks throughout the world. Kiting is a deposit fraud type that does not occur that often; however, this type of scam, even though much rarer, can bring devastating consequences to the banking institutions. In the words of Sydney Hicks from the Sterling Commerce Banking System […]
Tax Checklist for Small Business Owners
Tax season, dreaded by many, comes around the corner annually and never fails to prove to be a true pain in the neck. Forgetting slight details or making simple mistakes can easily create tax return delays – no vigilant taxpayer wants that. To prepare for this season, we assembled a small business tax preparation checklist […]