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There is a lot to be thankful for in the era when the automatization made almost every aspect of our daily lives exponentially simpler, faster, and less of a pain in the neck. Bookkeeping and accounting, as an utterly significant branch of every business imaginable, prospered incomparably with the introduction of the computer systems. Quickbooks […]
On October 28th of 2003, Federal law implemented a new act under the 108th Congress of the United States – an act that would, with the day of its effect inception exactly a year later, completely revolutionize America’s everyday monetary policy and overall extending of funds. We are, of course, talking about The Check Clearing […]
New payment methods are emerging constantly with the rise of technology and automation. And while there is a palette of choices on how to handle and extend your finances, among the most popular ones, and for a good reason, are ACH and e-Checks. Keep reading – we are here to help you get familiarized with […]
Signing up for paperless statements saves time, space, and trees; however, we cannot help ourselves but ask – is it completely worth it? Once you go paperless, your statements will not be delivered in your mailbox. Instead, you will be getting them in your e-mail inbox. Read along – we’ve prepared some pros and cons […]
Substitute checks are copies, normally electronic, of a standard paper check. The enactment of the Check Clearing for the 21st Century Act (The Check 21 Act) on October 28th of 2003 began allowing the U.S. citizens to practice check truncation, a process of extending electronic copies of checks in order to eliminate needs for physical […]
Bank deposit fraud is a frequent crime happening with many banks throughout the world. Kiting is a deposit fraud type that does not occur that often; however, this type of scam, even though much rarer, can bring devastating consequences to the banking institutions. In the words of Sydney Hicks from the Sterling Commerce Banking System […]
Tax season, dreaded by many, comes around the corner annually and never fails to prove to be a true pain in the neck. Forgetting slight details or making simple mistakes can easily create tax return delays – no vigilant taxpayer wants that. To prepare for this season, we assembled a small business tax preparation checklist […]
Checks, as a universal form of payment, have been witnessing a vast decline within these last two decades. The introduction to automation services, such as ACH (Automated Clearing House) and Wire Transferring, has led global businesses to reduce check-cutting costs and turn to some more convenient and, importantly, much cheaper options. That said, what is […]
Checks are financial documents used to order a specific banking institution to distribute a certain amount of money. Checks are extended by an issuer to another party (company, person, or governmental entity) which we call a bearer. Naturally, with various parties transferring all sorts of funds, there are several different types of checks, and here […]
The era of electronic money handling has been making everything easier for a few decades now. Wire transferring has numerous perks: extending money to almost any country, practically in real-time, with utmost reliability. Not to mention – in cases of depositing large sums of money, wiring is a rather matchless choice. However, are wire transfers […]
