Did you know that ATM usage is down 4% this year and is expected to continue to fall. Get a bank deposit machine for your office to be part of the trend. Copies of the entire deposit are auto saved to your computer and better yet saved in the cloud. You will save time and frustration.
We witnessed this firsthand when a client deposited checks at the bank and they were lost, he was never credited the money. Lucky for him, he copied the checks before making the deposit.
You can avoid this by doing the following things to make depositing money easier and ensure your hard-earned money makes it into your account.
Take a copy – it never hurts to make a copy of your checks. That act alone saved our client a lot of hassle and ultimately money.
Process: I can’t stress the need for a process enough. The number of times we have seen incorrect deposits is astounding. We recommend:
- Post payments to receivables if necessary
- Add up the total of all checks/cash
- Ensure you have the correct deposit slip (correct bank)
- Ensure you signed each check
- Make a copy of the checks and deposit slip
- Take the deposit to the bank or use a bank deposit machine provided by the bank in your office. Numerous people forget to take the deposit to the bank or leave it in their car.
- Attached the deposit slip from the bank to your copies and scan and save or file the paper copies or save electronic copies.
- Attach copies to QuickBooks in lieu of saving hard copies
We love to assist clients with processes. Contact us at www.budgetease.biz to find out how we can help your small business.
