For a large business, using multiple bank accounts isn’t an oddity. In fact, most large businesses use more than one bank account so have a logical separation of business units and/or unique job sites. With more checking accounts, comes more checks and check books which can be a hassle for a business that writes checks constantly. The best solution for a business with multiple bank accounts that wish to use checks is to purchase blank check stock and check printing software. This article will explain the difficulties with using multiple checking accounts. Those difficulties, however, may be alleviated when using check printing software to print checks onto blank check stock.
Multiple Bank Accounts: Difficulties
There are a number of difficulties a business faces with multiple checking accounts.
The first is having to balance each check book individually. It’s difficult to remember which expense comes out of each account, and keeping track of the expenditures of a business is a trying task with multiple bank accounts.
Second, having to write out checks from different checking accounts can be problematic because each check must be written out using a different check book. If the business is printing the checks, different check stock with the bank account’s MICR line, which includes the routing number, bank account number and other sensitive information, which means changing out the check stock for each account before printing.
Third, getting approval for different payments and signatures for checks can be a hassle, especially when they are printed out and waiting for approval from those who need to sign a number of checks at a time.
In conjunction with this as well as the fourth difficulty with having multiple checking accounts is this leads to a lack of security. Not only does pre-printed check stock give check fraudsters the ability to steal checks and write them out for fraudulent payments, but when faced with having multiple checks to approve, those in charge of signing the checks may not scrutinize for questionable checks. This unnecessarily puts the company’s security at risk.
The Solution: Check Printing Software and Blank Check Stock
Check printing software can solve most of the difficulties presented with having multiple checking accounts. With check printing software, the checks are printed on blank check stock, and thus, all of the check book balancing can be done through your accounting application. This eliminates the problems of balancing multiple check books. Since the checks are printed on blank check stock, the checks do not have to be changed out every time a different bank account is used. The check printing software will print all the bank account specific information onto the universal blank check stock. Checking accounts can be entered into the check printing software and then each check that needs to be printed can be printed directly from the ,check printing software instead of switching the pre-printed check stock. As far as the security and approval process goes, check printing software is immensely secure and has the ability to send email notifications to those who need to approve the checks. Once approved, a digitized signature is also printed onto each check and corresponding to the individual bank account. With check printing software there’s no need for printing and waiting for approval, or worrying about checks being stolen for fraudulent payments.
If you are interested in purchasing check printing software, go to www.Piracle.com. Piracle has check printing software that does all of the above and more, providing your business with a secure, efficient and money saving check printing process that is integrated with most accounting software.