Breaking Down the Anatomy of a Business Cheque

Even though online banking is the latest trend, we still choose to write a cheque for many transactions. Company owners and finance managers consider business cheques as a safe method for transactions. 

However, have you ever stopped to think about the different parts of a cheque? What do each element on the face of the cheque leaf denote? Let us have a look at these parts.

1)A drawer is a person or financial institution who makes the cheque.

2)A payee is the recipient of the money. Ensure that you have written the name correctly.

3)The date on the business cheques must be the current or future date. Verify with the bank the format of the date to avoid issues

4)The payment amount written in words. It should be the same as what is written in the box in numbers.

5)The cheque number is unique for every business cheque. You can see it at the bottom of every cheque. It helps banks to avoid occurrences of fake cheques. 

There are 4 parts to it

a.The 1st 5 is the cheque number

b.The next 5 is the transit number (home branch details)

c.The next 3 is the institution code (code for the bank)

d.The last 7-12 digits are the account number 

Conclusion:

Make sure whenever you are printing business cheques, all these parts should be included properly. This will ensure smooth transactions for the banks, the issuer, and the recipient.

To know more about business cheques please visit the website.

How to print checks in QuickBooks?

QuickBooks is a useful financial management platform developed by intuit. The popular accounting application holds more than 80% small-business market share. You can generate invoice to customers, pay bills, and generate reports for planning and tax filing with the help of the software. It also allows users to create and print QuickBooks Checks and record payment for the same.

Let’s have a closer look at the steps in creating QuickBooks Checks:

First of all, from the QuickBooks Banking dropdown menu, select “Write Checks” option. By default, QuickBooks select all checks for printing. If certain check you don’t want to print then enter the check number in the check number box. Then click “OK”.

1.Now, from the QuickBooks File menu, select “Print Forms”. You can select the check style – Voucher, Standard or Wallet by selecting the radio button.

2.After that select the bank account that you want to use for payment.

3.Choose the printer name and the printer type from the dropdown. If printer is configured before then select the default one.

4.According to the printer guidelines now you can load blank checks into the printer.

5.At the end select “print” option from the QuickBooks dropdown menu. Once the checks have printed, examine it. So a user gets idea if all the checks are printed properly or not.

In this way, by following these easy steps a user can create and print QuickBooks checks accurately.

To know more about QuickBooks Checks please visit the website.