Check Writing Software Key Terms

Learn terms related to check writing software

Check writing software makes it easier for businesses of all sizes to process checks. There's no need to worry about ordering checks or taking time to fill them out manually when check writing software is used and checks are printed in-house. There is a large selection of companies offering check writing software. In addition, there are many "add on" products that can make check writing software more efficient and secure. Getting to know some of the terminology makes it easier to compare vendors, select features and make a final decision.

 

Check stock

Check stock is used to print checks in laser printers. Rather than simple paper, most blank check stock is available with security features that help to prevent check fraud. Look for checks that meet ABA and ANSI standards. Check stock is also available in a variety of formats, with checks either above or below the stub, different types of perforations and a variety of colors.
Try: Check out ACOM for recommendations about check stock security and a list of some of the features available.

MICR

MICR, short for Magnetic Ink Character Recognition, is what is used to print the bottom line of a check and contains bank routing number, account number and check number details. This line is printed with magnetic ink, which enables it to be read by check processing machines. Special magnetic toner can be used in a laser printer when printing checks with software.
Try: Elfring Fonts offers a detailed explanation of MICR printing. It includes information about the American National Standards Institute (ANSI) standards for check printing.

Check printing devices

For many companies, a simple laser printer is all that is needed to print checks. Most check writing software will work with standard laser printers that have an MICR toner cartridge installed. However, there are some advanced check printing devices that offer additional security features like lockable trays, auditing and encryption. Some machines also have features that make check printing easier -- like folding the checks and sealing the envelopes.
Try: Check out products from Troy Group to get an overview of security features available in MICR printers. Browse PrintCheck to get an overview of inserting and sealing devices.

Payroll checks

Processing and printing payroll checks requires some special considerations. Look for check printing software that includes payroll processing. In addition the check, the pay stub must also be printed. The information that goes on the pay stub varies by state, but generally includes salary, tax deductions and other deductions.
Try: Intuit offers an overview of payroll processing. For a sample of a paystub, check out A.M. Walton Bookkeeping Services.

Signature

All printed checks require a signature in order to be cashed or deposited. It's possible to sign checks manually when using check printing software, but there are several other options that make it easy to sign checks. Most check writing software can have the signature added as a graphic so that it will print automatically. Other options include a stamp with the signature or a check signing machine. Access to a signature can result in check fraud, so it's important to look for security features to prevent this, such as software that encrypts the signature so that it can only be used within the program.
Try: Get an overview of check signing machines from General Graphic. They include high volume processing machines and security features.

Check fraud

Check fraud -- especially payroll check fraud -- affects millions of companies each year. Use security and anti-fraud practices to prevent fraud.
Try: Safe Checks provides a detailed checklist to avoid check fraud.

Copyright © 2011 Business.com, Inc. All Rights Reserved.

---