The key to running a successful business operation is keeping things lean. You don’t want wasteful expenditure that does not positively impact the bottomline. One of the areas where most businesses end up paying more than they should is buying checks from banks.
Buying checkbooks from banks is a great solution for a personal user, who needs one or two checkbooks per year. However, for a business that issues hundreds of checks per month, ordering printed checks from banks doesn’t make financial sense. This is mainly because banks buy checks from third-party printers and then resell them to businesses. This means the final price includes the profit percentage of both the bank and the independent check printing firm.
There are two things you can do to cut down on the cost of procuring business checks. You can order your checks directly from the independent check printers and get checks printed online. You can save some more money if you decide to buy blank check papers online and print on them in your office or business establishment.
Things you Need to Print Checks in Your Office
Check Printing Software (Quickbooks or Quicken)
Blank Check Paper (Available Online and at Supermarkets)
MICR Toner (To Print Account Number and Routing Number)
MICR Font (Available for Free on Font Websites)
A Desktop or Laptop Connected to a Laser or Inkjet Printer
Advantages of Printing Checks In-House
Saving Money: When you shift from buying checks from the bank to printing your own check you end up saving almost two thirds of the original cost. If your company issues enough checks, that can lead to a massive saving each year.
Faster Check Filling: When you have a check printing system, you don’t need to write checks manually. This enables you to print checks in bulk at a rapid pace.
Freedom to Create Custom Branding: When you print your own checks, you decide the size of your company logo and have greater design freedom. This gives you the power to create a great-looking company check that instantly impresses.
Automated Database Entry of Payments Made: When you use accounting software packages such as Quicken or Quickbooks to print checks, each check payment is automatically entered in a database. This helps you manage your company’s finances and create year-end balance sheets.
Issuing Checks for Different Checking Accounts: With the freedom to print the account number and routing number, you can print checks for multiple checking accounts.
Protection of Sensitive Banking Information: Printing your checks in-house eliminates the need to give out sensitive banking information to third-party printing firms.
Reduction in the Number of Rejected Checks Due to Errors: With payee information saved, all you need to do is enter the amount to print the check. This eliminates writing errors and ensures hassle-free check clearance.
Faster Check Delivery: While banks usually take about a week to process a new checkbook order, there are a few check printers that send blank check papers via overnight mail.