by Bo, March 04, 2013
Many small business owners have a hard time deciding whether they should really use business checks over personal checks. There are many reasons why the expense of ordering custom business checks is the best option. Whether you’re just getting started in the industry or working with new suppliers, you may find that these kinds of checks have a wide range of benefits.
Taxes require a lot of documentation, so having a paper trail for your business completely separate from your personal finances is so much less confusing when tax season rolls around. This helps to distinguish what are deductions and what are not, as well as provide proof in case of an audit. Use these checks in conjunctions with accounting software to make life even easier.
Another plus is having more information readily available when needed. Business checks usually provide more information on them than regular personal checks, including details such as pay stubs with employee payroll details, as well as order and invoice numbers for your various transactions.
No matter the size of your business, it is always more professional to use checks with the official company name and printed right on them. This helps project the image of a serious company, whether you’re dealing with employees, suppliers, or partners. If you were to send another company a personal check, they would wonder about your ability to manage your own finances and possibly start doubting your ability to do business.
A personal check in a professional situation can quickly bring up the question of the business being a hobby rather than a serious endeavor, and someone may even start to question whether or not the checks will bounce. Unfortunately, many companies have had bad experiences with personal checks not having the funds to cover the expenditure, but a professional check can do a lot to build confidence.
Identity theft happens all too often when certain information simply ends up in the wrong hands. This not only causes a big headache, but can also have serious financial consequences. When a business uses personal checks, they leave their personal bank account number and contact information in the hands of many people. Business checks leave those personal details off the record so you don’t have to worry about it getting used in the wrong way.
Other businesses and financial institutions will also want to protect themselves and may be suspicious of a company that tries to use personal checks. To protect against this, they require the checks be computer printed or typed and do not accept handwritten. Whether you’re a large or small business, the right checks can help you make the right impression.