Saving, investing and making money with technology

Day: May 28, 2018

Business Checks vs Personal Checks: The Untold Advantages of Using Business Checks

Personal checks are usually available at a much cheaper rate compared to manual business checks. This often prompts people to wonder about the differences between the two. Is it worth paying extra buying business checks? Well, the higher cost of business checks is justified by a few extra features that are geared to serve business users. For starters, business checks have larger dimensions and they are thus easier to print on. Apart from its size, business checks also come with more customization options as well as more security features. Without further ado, let’s check out a few advantages of using business checks for making business payments.

More Security:

While individuals rarely write checks, businesses need to issue multiple checks every month. The sheer number checks issued by businesses makes them susceptible to check fraud. Personal checks do come with standard security features such as watermarked text and designs. However, they don’t have as many security features as business checks. Right from holograms to heat sensitive paper, the latest in security technologies are often employed to make business checks more secure. Businesses can also spend extra and buy high security laser business checks. These checks are impossible to counterfeit and thus delivers a level of peace of mind that standard personal checks cannot match.

Fits a Double Window Envelope:

Personal users often write checks and hand them over to recipients. Businesses rarely do that. Most businesses print checks using their accounting software programs and send them via mail. Sending checks through the mail, allows businesses to get a delivery acknowledgement from the recipient. Now, the favored enveloped to send checks via mail is a double window security envelope. Business checks have a size that perfectly aligns with the transparent windows. This is why if you intend to send checks via mail (like most businesses) you need to order business checks.

They Come with Check Stubs:

If you have always used personal checks then there is a good chance you have never heard of check stubs before. They are tiny pieces of paper that are attached to each individual check. The purpose of check stub is to record the information of all the checks issued. Considering businesses need to write hundreds of checks in a calendar year, these stubs are essential for recordkeeping and they help business owners settle payment disputes.

They Are Not That Expensive:

If you are ordering business checks from the bank then you are certainly paying more than you should. If you skip the bank you should face no trouble finding cheap checks online and supermarkets. Now, because businesses typically order checks in bulk, the per-check cost can actually be lower than personal checks ordered from the bank.

Customization Options That Matter:

Business checks come with personalization options that personal checks typically do not. For example, you can order business checks with extra a memo line and a space for two signatures. Business checks also have room for business contact information and a company logo. This allows businesses to boost brand visibility.

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Legal Matters: The Rules Of E-Commerce

The time of the retail reign in business is passing, and e-commerce is becoming a much easier way of doing business for many entrepreneurs.  The internet as a platform for sales is much different in nature than that of a brick and mortar establishment.

Many of the legal rules are the same, but the digital realm has its own set of rules and regulations for business operations.  It is important that you understand the laws of running a money-making business online before you dive in head first. Here is a quick summary of a few standout rules of e-commerce.  

Consumer laws and rights

If your business is selling something to a customer, then it is important that you are knowledgeable concerning consumer laws and rights.  Your consumers have a right to certain information.  

For instance, it is law that you have to provide customers with a full breakdown of charges and totals before their purchase is completed.  Also, a record of the transaction must immediately be sent to the consumer’s email inbox.

There is even a specification that you must present buyers with an acknowledgment of charges the first time they hit the “purchase” button, so customers have plenty of notification that their credit card is fixing to be charged.  

If your organization is not very particular about following the law when it comes to consumer laws and rights, you could end up in a whirlwind of troubles.  If someone is injured as a result of your product, and there was no forewarning about the possible danger, you could be at fault.  

Understand tax laws

Tax laws vary, depending on where you are based as a business.  The internet is an interesting medium when it comes to tax law, but the typical outcome depends on where the product originates.  

If you are selling clothing from New York, then you would add clothing tax on your prices.  New York taxes clothing. If you were selling food products from Florida, you wouldn’t charge any taxes.  Food in Florida is nontaxable.

Customer data protection guidelines

Running an e-commerce business requires that you have some sort of security in place to protect customer data.  You cannot simply gather up credit card numbers with no assurance that the information is protected from those who would use it for harm.  

Take your time to vet out a well-built e-commerce transaction platform.  Your organization’s reputation, and the quality of your customer service depends on the safety you provide your online consumers.  

Understand the difference between

It is important that you understand the difference between a copyright, a trademark, and a patent in any realm of business.  If you are creating something new, you’ll need to protect your investment. Learn how to put on paper that your business ideas are yours alone.  

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