Checks were one of the oldest forms, which is still used today in the hyper digitalized world.
It always will be there and the cheapest way to do transactions without any fees like credit cards.
Account receivables still prefer checks that they get full face values of it, especially for significant amounts.
It is crucial everybody should know how to write a check.
Still, don’t know how to write a check?
Don’t worry, we got you covered, learn How to Write a Check like an expert in no time. Here are some steps that you should follow, which will help you to write a check successfully.
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To write a check successfully clearly means to write a check without any errors. The bank should not reject the check that you have handed over to the bearer for any reason. The purpose is clear, and the transaction should take place quickly.
In short, it can be clearly stated that a candid idea is needed for all to write a check faultless.
It needs skill and experience to write a check free from error. However, a piece of proper knowledge regarding the same helps you to achieve the task quite successfully.
Step1. Write the date first while you write a check
To write a check comprehensively, one should be careful to write the date first. The upper right side of the check is for writing the date provided in the column. Always keep in mind that the date you quote will be after an in-depth perusal regarding the fund available as there will be a chance for the check to get a bounce. The next moment you hand over the check after writing the date and other details, the receiver may go to the bank and will present the check.
Hence a functional analysis is appreciated before you write a check with a convenient date.
Step 2. Write the name of the beneficiary
The name of the beneficiary should be quoted accurately while you write a check. The name represents an individual or a company. If it is an individual, it is necessary to write the first name and the second name. Avoid writing first name only or nickname of that person. In the same way, if the check is given on behalf of a company, the complete name of the company should be captured correctly.
The cash will be transacted to the holder of the name written at the column. There is a trend that usually, people write ‘cash’ instead of the name. However, this should not be appreciated as there is a high chance of fraudulent activities in that case.
Step 3. The amount should be written accurately in digits
The amount should always be mentioned in numeric, and even the decimals should be expressed. There will be some situations where one has to write checks for dollars and cents. In that case, not only the dollars but the cents also should be mentioned correctly. For example, if the amount is ten thousand dollars and fifty cents, it should be written as $10,000.50. This perfectly exemplifies and provides importance for the cent part as well.
Step 4. Writing memo will help you in future
Memo means the specific purpose, which will be served by check. In short, the memo mentions for what purpose the check. A memo is very helpful for accounting purposes and legal use.
If one writes the memo part in each check, he gives out, or a company gives out, the purpose of the check is quoted. However, financial institutions do not consider writing a memo as a necessary formality.
Step 5. Signature is a must while you write a check
Signature shows the authority and consent regarding the transaction of money using a check. Any financial institution or check clearinghouses will reject the check upfront if the signature is not there. Another possibility is due to a signature mismatch check can be rejected. The account holder should be very concerned regarding his signature.
Checks are the best record of payments with proper Momo on it
The mismatches and the errors that came up while writing a check led to unwanted check rejection. This effectively results in the development of check writing software, which helps to write perfect checks. It is a fact that most of the professionals globally, especially in the United States, are using check writing software to excel. Try Account Receivable to get paid by check and Account Payable to pay someone by check.
Features: Benefits of Writing a Check
Writing a check is the best practice of having an outstanding record of all the payments with the memo
You can write what that payment is made for a memo.
The memo is not possible in any other kind of payments like credit card or ACH
A memo is an explicit contract what is that checks are given for once any dispute happens.
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