Business cheques are bank drafts written against a company checking account. This is very effective and tends to make the company appear more secure and professional. There are some security features incorporated for business cheques. The main feature is holograms, fluorescent colours, plastic watermarks, and holographic ink. It should be made clear here that all banks do not accept this type of cheques, and that only institutions that specifically deal with cheques and cheque accounts accept this form of document. If you are looking to open a business cheques account, it is wise to seek advice from an attorney that specializes in banking matters.
One of the main security features of business cheques is the use of holograms. Holograms can either be a thin line or in the form of a hologram image. While a thin line has a defined outline, a hologram image is more difficult to produce and thus appears more authentic. Most banks employ special software to help decipher a hologram. Apart from being easily recognized, a hologram also has a greater impact since it can easily be matched against a printed document.
While holograms may seem highly sophisticated, there are certain types of business cheques that use the same image. Some of these include ATM, credit and charge card, retail invoice and retail purchase order. These accounting software are designed to record and process data such as the current balance, transaction date, and applicable fees and charges. These features are quite similar to what is found on debit and ATM cards.
However, while using an image, some companies may be able to take advantage of a feature known as double window envelope. Double window envelopes allow a company to print two different images onto one sheet of paper which can be used in the order of priority. This enables the company to ensure that each piece of information is given prominence when it comes to the company cheques for sale.
A major disadvantage with manual business cheques is that they may not always contain the information needed by a company. For instance, if the business refers to a purchase receipt, it needs to contain details such as date, time and address. However, most accounting software will provide a user-friendly tool for entering the relevant details manually. When the client provides his details, the software will automatically print the relevant receipt that includes the date, address and invoice number. This method is often preferred over manual business cheques as it helps save time and also provides a secure environment for both the customer and company.
Another disadvantage of manual business cheques is that they are rarely updated or changed as required. Many companies have their own accounting system which requires regular changes to be inserted into the system. The process of updating or changing business cheques usually involves a few people in a company and in some cases, it may even involve people in other departments. In such cases, the process is considered to be time-consuming. As a result, many companies do not change their business cheques on a regular basis.
On the other hand, manual business cheques also lack the security and benefits of the automatic systems. Customers who receive this type of cheque need to provide their personal information. This personal information needs to be protected from unauthorized use. To ensure that this information is safe while it is in transit, some companies print the receipt themselves. This ensures that personal information is printed on the document and that security features are used to prevent copying of the document without authorization.
Therefore, although manual business cheques are advantageous in comparison with automatic personal cheques, they still fall short of meeting the level of security needed. In order to secure personal cheques, it is best to opt for e-Checks or credit card payments. By using electronic methods of payment, personal information is safely encrypted and transaction is completely secure. Moreover, the amount of information needed to make an electronic transaction can be further reduced since credit card information is more readily available.