Managing Business Finances & Accounting; Accepting Checks

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http://www.StartupOwner.com Accepting Checks Although credit and debit card payments are on the rise, the expenses and additional record-keeping involved with card payments are not ideal for all businesses. If you want to expand your customer payment options beyond cash but aren't ready to make the leap to card payments, accepting checks is another option to consider. To protect the financial health of your business, understand the laws that regulate check payment policies. Policies for Accepting Checks If your business accepts personal checks, establish a detailed check acceptance policy to help identify and avoid bad checks. Don't just make a document and file it away--be sure to train your employees on the new policies and post reminders in visible and prominent locations. Common check policies include variations of these guidelines: Checks must be from a local or in-state bank Checks should not be written and accepted for more than the purchase amount Checks should not be accepted that are starter checks, unnumbered checks, or non-personalized checks Accepted checks should be deposited as quickly as possible. Banks may refuse to honor checks dated back six months or more http://youtu.be/PoBvpvVsrSg For More information on How to start your own business, visit www.StartupOwner.com You will be able to access more Free Tips and Learn how to become a successful Business Owner Today.