Printing your own checks is a common practice for many businesses, especially small and medium-sized enterprises. However, it’s important to follow best practices to ensure the security and accuracy of your checks. Here are some steps and best practices for businesses to print their own checks.
Invest in Check Printing Software:
Choose dedicated check printing software or accounting software that provides comprehensive check printing features. This software should allow you to design and print checks while integrating various security measures. Currently, OnlineCheckWriter is one of the best and is the choice of over 1 million users. It offers e-checks, check drafts, check printing, check mailing and other modes of payments like ACH, pay by credit card, wire transfer and wallet to wallet transfers as well.
Choose Check Stock:
Carefully select high-quality check stock paper that comes equipped with several built-in security features. These features may include microprinting (tiny text that is hard to replicate), watermarks, and security threads that make it difficult for counterfeiters to reproduce your checks.
Set Up a Dedicated Printer:
Allocate a specific printer solely for check printing purposes. This practice minimizes the risk of unauthorized access to check stock and ensures that the printer is used exclusively for check printing tasks.
Design Checks:
Customize your checks to include your business name, logo, and other branding elements. Ensure that the design complies with banking standards, including MICR encoding for accurate processing at financial institutions.
Implement Security Features:
Incorporate tamper-evident security features into your check design, such as heat-sensitive ink that changes color when tampered with, chemical protection that resists alteration attempts, and UV ink that is visible under ultraviolet light. These features enhance the security of your checks.
Set Up User Access Controls:
Restrict access to your check printing software and equipment to authorized personnel only. Implement strong user authentication methods, such as unique usernames and passwords. Keep a detailed log of all check printing activities to monitor for any unauthorized or suspicious actions.
Store Check Stock Securely:
Safeguard blank check stock by storing it in a secure location. Consider using a locked cabinet or safe to prevent unauthorized access. Limit access to only a few trusted employees who require it for their job responsibilities.
Reconcile Regularly:
Conduct regular reconciliations of your check printing activities with your accounting records. This practice helps identify any discrepancies or irregularities in the check issuance process, allowing for prompt investigation and resolution.
Print and Store Check Copies:
Before issuing any checks, print a copy of each check for your records. This archive of check copies serves as a valuable resource for audits, financial record-keeping, and dispute resolution in case any issues arise.
Use Positive Pay:
If feasible, consider implementing a positive pay system with your bank. This system involves providing your bank with a list of checks you’ve issued. When a check is presented for payment, the bank matches it against your list, reducing the risk of fraudulent checks being cashed.
Train Your Staff:
Provide training to employees responsible for check printing. Emphasize the importance of following security procedures and best practices in check printing. Ensure that your staff is aware of their role in maintaining check security.
Regularly Update Software and Security:
Keep your check printing software and equipment up-to-date by applying the latest security patches and enhancements. This proactive approach ensures that you are using the most secure tools available.
Monitor and Audit:
Periodically conduct audits of your check printing processes and security measures. This ongoing scrutiny helps identify weaknesses and areas for improvement, allowing you to adapt to changing security threats and maintain the integrity of your check issuance procedures.
By following these best practices, businesses can print their own checks with enhanced security, accuracy, and compliance with industry standards. These measures not only protect your financial assets but also foster trust with your customers and financial partners.
