Business checks provide an easy and convenient way to make payments. You can issue a business check as long as the linked bank account is active and financially sound.
These checks don’t expire, but the validity period is often six months from the issue date. You may also find some checks that are valid for less than 6 months, after which they become void. There are different types of business checks, each with specific uses, pros, and cons. This guide highlights tips that will help you choose the most suitable one for your business.
Laser checks enable you to print complete business checks. Each check includes the payee, amount, and issue date. You can choose from a variety of styles, including; three to a page, bottom of page, or top of page. The difference is where the check stubs or pay stub information is on the page.
In contrast, manual checks require you to hand-write information like the amount and date. The two most popular types are business wallet checks and voucher checks. Both laser-print and manual checks have the option of adding stubs or vouchers for easier record-keeping. As you decide the best type for your business, your focus should be on the following four aspects.
1- Consider Business and Payroll Activity
As a business owner, you likely have employees or vendors that need regular payment. If you issue multiple checks regularly, laser checks are your best bet. It will be easier to reconcile banking and check details in your accounting software.
2- Weigh the Business Type
You may be a small business owner, contractor, or freelancer who issues checks once in a while. In such a case, you only need a few at hand, so printing your checks may not be wise. Wallet-sized manual checks are a better option, as you can save on costs.
3- Consider the Number of Business Accounts
Perhaps you have several business accounts, or your business requires switching accounts often. The most suitable option in this case would be blank computer checks. These checks don’t have bank routing information or account numbers. You can print different checks from separate accounts using the same check paper.
4- Estimate the Quantity
Cost is a major consideration for any business. Getting your business check from your bank can be expensive. The design determines the cost, as most printers charge extra to personalize checks. Laser checks are computer-generated, so you can control how they look. In most cases, it’s cheaper to get more checks at once, which saves business expenses.
Get the Right Check for Your Business
With so many options, it can be confusing to know the right check for your business. If you prefer handwriting your checks, opt for manual checks that you can fill out and carry anywhere. However, laser checks are the better option if you consider all aspects. It saves you the bank printing costs and allows you to include business information. You can also combine your checks with general accounting for efficient operation.
