Re: Check scanning/depositing

[Tom Jedrzejewicz <tomjedrz@xxxxxxxxxxxxxx>]

On Tue, Mar 24, 2009 at 12:06 PM, Jeff Crosby <jlcrosby@xxxxxxxxxxxxxxxx>wrote:

> Is anyone here scanning their received checks before depositing into their
> bank account?  Or depositing them remotely into their bank account after
> scanning?


My company does this exactly .. we no longer do deposits "manually".  Our
bank is Wells Fargo.  They provide the scanner (I think) and the software is
web-based.


> Basically, who is using a more modern approach than endorsing the back of
> the check, running tapes, and then physically taking them to the bank?  Our
> bank is National City and we're soon going to ask them how they can help us
> in this regard.  We're a very small business so I'm assuming our options
> will be limited here.


The clerk scans the batch of checks, confirms the amounts and completes the
batch, and a report is printed.  One copy goes to the AP folks, and a second
copy is wrapped around the checks, which are placed into a security-sealed
bag and saved for a year.

Accounting did it all by themselves .. I didn't even know it was happening
until I saw the scanner on the clerks desk.  It works well, although it
doesn't save as much time as you might think.  There isn't much difference
between scanning/verifying the check and writing the check on the deposit
slip and running the tape.  We do save the bank trip each day.  More
importantly .. we get the cash a day or two sooner!  The accountants like it
better than a lockbox.

This is a bank thing .. talk to them.  You can't implement it yourself.
 This might be worth changing banks to obtain, although I imagine it isn't
your decision.

---------
Tom Jedrzejewicz
tomjedrz@xxxxxxxxxxxxxx