Tomorrow marks the 141st running of the Kentucky Derby. The race is an iconic event in American culture. While the three events comprising the Triple Crown define the sport of horse racing, to the general public, the Kentucky Derby stands as the Super Bowl of the sport. Yet, given the horse race itself only lasts about two minutes, it is much more the history and pomp and circumstance of the event which provides its fame. And there may be nothing more pompous than the famous hats that fill Churchill Downs the first Saturday of every May.
It is these hats that have come to define or at least symbolize the Kentucky Derby. As they add color to the horse racing event, we wondered what adds color to check printing software. What are the “hats” of these QuickBooks add-ons? In other words, what are the important features surrounding check printing?
Check and accounting security is the most important issue surrounding payments. Protecting your sensitive information, including financial figures and bank account information, is paramount in any software you use. Features like data encryption and login protection, are essential. Being able to control user rights enables businesses to efficiently utilize their workforces without jeopardizing security.
Positive Pay is a little known feature in the check payment world, yet it is the most secure way to process checks. Positive Pay files contain all the information of a check run, including the check number, amount, and payee information for every check printed. This file is then given to the bank. In order for money to be drawn on the bank account then, any check sent to the bank must match the information on the Positive Pay file. If it does not, then the check is rejected. By using a check printing software that automatically creates Positive Pay files, businesses can protect themselves efficiently.
All checks need to be signed. Some businesses even use signing rules based on dollar amounts or bank accounts to determine who in the company needs to sign. Using a check printing software that enables electronic signatures with signing rules will not only save time and headache finding the right people to sign each check, but will also maintain security through encrypted signature files.
Email and Archive Documents
Paperwork doesn’t end when the check is printed. Unfortunately, this is often just the beginning (or at best the middle). Whether it is a copy of the invoice, a purchase order, or any other information, accounting documents need to either be sent or archived. A good check printing software will allow all documents surrounding a payment to be attached and sent or archived. By creating PDFs of the docs, they can be sent in an email or saved on a server. Either way, document distribution is a necessary feature to complete a check payment.