Positive Pay System

What is the Positive Pay System?

Check-related frauds have been around since the inception of using checks for extending funds. Many individuals, businesses, and companies experienced fraudulent behavior such as check kiting and other forms of scams; because of this, most banking institutions’ Cash Management departments offer Positive Pay System. This automated tool’s main purpose is fraud detection and prevention. Knowing […]

Outsourcing

Why Businesses Should Outsource Their Bookkeeping?

There are no doubts: it is very challenging to lead any sort of business, no matter 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 […]

federal law book

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 […]