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 […]
What Is a Purchase Order and How Does It Work?
Many businesses frequently order supplies from merchants and other third-party vendors. Typically, a business representative must fill out a purchase order to receive items and goods from the specified vendor. There is often considerable confusion surrounding how a purchase order works, what it is, and how to complete it. To better assist you and your […]
How to Void a Check in QuickBooks: A Step-by-Step Guide
There are several reasons why a company’s accounts payable department has checks and balances in place. One of the most important ones is to avoid mistakes. Another reason is to avoid sending out duplicate payments or losing checks. This department has one main responsibility. It must ensure that the correct payments are sent out in […]
How to Measure Accounts Payable Performance: Top AP KPIs
If you cannot measure something, then you cannot judge how well you are meeting your goals. When evaluating your accounts payable metrics, refer to the business goals to determine your progress toward achieving them. This mindset can be applied to accounts payable KPI performances because the process consists of multiple moving steps and just as […]
What Is a Class Action Settlement and How Much Can You Get?
Have you received a notice via email or postcard letting you know you’re part of a class action lawsuit? This type of notification is sent to several people, who may number in the thousands, who have been adversely affected by an organization or a person. Rather than filing individual cases, a person or group uses […]