Routing vs. Account Number: Is There a Difference?
Financial institutions around the world transact billions of dollars daily. The complex banking system has become more technologically advanced than ever to ease the manual burden of checks and balances. To establish financial credibility, financial literacy has value. Opening a bank account is essential in the quest to learn about the financial world. For example, […]
The Advantages of Direct Deposit vs. Paper Checks
Do you have questions about sending payments for your business? Then it’s time to take a closer look at paper check vs direct deposit options. While you have likely heard of both choices, when making a decision for your business, it’s important to really break down how they work before you start the process. Below, […]
What Is Mobile Deposit and How Does It Work?
With the advent of many revolutionary technologies in the modern world, the way we conduct our banking has undergone drastic changes. Before, you would have to line up in long queues to make a deposit or pay a few bills. This would make going to the bank a tedious and boring chore. However, thanks to […]
What Is a Mail-in Rebate and How Does It Work?
Mail-in rebates are a common form of cash rebates, alongside instant, online, credit card, and cash rebates. Typically consisting of sending forms through the mail, the mail-in rebate is a tactic used by manufacturers to attract more price-sensitive shoppers to their product line while minimizing the amount of the discount that they would need to […]
What Are the Consequences of Depositing a Fake Check?
Each year, roughly 500 million checks are forged. While some of these checks are written intentionally, even people who are not knowingly writing false checks themselves may experience check fraud and accidentally come into possession of a fraudulent or fake check. Since this is a widespread problem, understanding how banks handle fraudulent check deposits will […]
What Are Security Envelopes and What Are They Used For?
In all likelihood, you’ve seen a security envelope before, but you may not have known what it was, why companies use it, or how it is significant in protecting your data. Companies that choose to mail sensitive documents should ideally use these security envelopes to ensure that private information remains confidential. Here are answers to […]
How to Get Your Tax Refund with Direct Deposit
When you file your taxes, you may notice that you have a few different options for collecting your refund. For most taxpayers, direct deposit is the quickest and easiest way to receive a tax refund. If you are considering using this method, it can be helpful to understand how direct deposit works for tax refunds. […]
How to Set Up Direct Deposit Yourself
What is direct deposit? In a nutshell, direct deposit is an effective way of transferring money electronically. With this option, you won’t have to worry about going to the bank every month to cash your checks. Direct deposits enable you to automatically process your paychecks and Social Security payments. Since it’s an electronic process, it […]
Accounts Payable Challenges and Solutions
Accounts payable is one of the most problematic liabilities on any balance sheet. It refers to short-term debts owed by the business to suppliers and vendors. This debt typically has a specified time limit and must be paid to avoid default. Keeping this column of the balance sheet under control is crucial for managing your […]
What Are the Most Common Payroll Problems?
Getting your payroll out on time and correctly each month takes an investment of time and resources. Below are some common payroll problems that you could face in this area. You should anticipate these problems and have processes in place to deal with them. Incorrect Withholding for Taxes and Other Deductions Can Cause Payroll Problems […]