The History of Check Writing from the 11th Century to Writing Checks Online
Check writing is an essential task for business accounting departments as checks continue to be the most utilized form of non-cash payment worldwide. Checks have been the dominant method for processing business payments for hundreds of years. In fact, Americans write over 30 billion checks every year.
Checks have been utilized as a form of payment for centuries. Check writing was highly risky in its early years and resulted in numerous financial issues, including tax issues, payroll issues, etc.
Fortunately, numerous advancements have allowed modern checks to be safer, more secure, and processed significantly faster than in early checking days. Most growing and successful companies now use programs for writing checks online.
In the following informational guide, we explore the history of check writing, including the advancements that have led to modern check writing.
Definition and Origin of Checks
The definition and the intent of using checks for your business are simple. Checks are written requests to release a specific amount of funds from your account to a third party. Once processed, the bank will release funds from your account to the account specified on the check.
History of Check Writing
Checks are the most commonly utilized form of non-cash payment in our modern world. The practice of check writing dates back to the Mediterranean during the 1st millennium. At this time, checks were reported to have been used as a common form of non-cash payment between local merchants.
Early checking continued to develop over the next several hundred years in other areas of the world. Checks became commonly used in Muslim countries during the 10th century.
In the 11th century, a traveler named Nasir-i Khosrau, visited Basra, a city that is part of modern-day Iraq. Khosrau is recorded to have used checks during the duration of this trip.
Europeans took note of these payment processing methods and began to implement the use of checks across Europe during the 13th Century.
A shortage of bank notes during the 19th century led to the utilization of checks as a dominant form of currency throughout Europe.
In the 19th century, checks became a popular form of currency in the US. During this time, the government discouraged any other form of payment, and checks became the dominant method for payment processing.
Modern Check Writing
Check writing continues to be a necessary task due to the continued utilization of checks in business. Fortunately, modern check writing is more efficient than ever before. In early times, checks were processed than handwritten requests to your financial institution. For many businesses, writing checks by hand led to numerous financial issues, including issues with internal theft.
Modern advancements in check writing have allowed checks to be the most secure and efficient form of payment and for companies years ago companies began writing checks online. Business accounting departments can now manage accounts, including payables and receivables automatically with highly secure checking software.
Thanks to the engineering and creativity of companies like Wellspring Software, applications for writing checks online are compatible with your current accounting software program.
Benefits of Modern Check Writing Software:
- Save Time
- Reduces Costs
- Increases Security
Writing Checks Online and Printing Checks In-House
Printing your own checks in-house onto blank check stock is the safest way to manage your business financial accounts. There is the ongoing risk of exposing sensitive data, including business and/or client account information. Printing checks in-house prevent these issues from occurring.
Secure Check Printing, Sealing, and Mailing Services
Are you looking for a safer way to print and mail checks? Online check printing programs offer reliable check printing and mailing services to help your business operate more efficiently.
Making an investment in secure and automatic check printing services ensures that your financial accounts are handled efficiently. PrintBoss offers secure check printing, sealing, and mailing services for businesses across the United States.
Best of all, PrintBoss is compatible with all major accounting programs, including the highly recommended QuickBooks Online.
PrintBoss Check Printing Solutions
Writing checks online is now an essential tool for all businesses. Set your accounting department up for success by providing your team with advanced tools to manage business accounts more securely and efficiently,
PrintBoss check printing software has the tools for writing checks online and features that your team needs to operate more efficiently.
PrintBoss also allows you to access and manage your business financial accounts from anywhere with an easy-to-use mobile or desktop application. Contact PrintBoss for more information about advanced check writing software and check printing and check mailing services today! You will be glad you did!