As most companies know, there are security and efficiency challenges to creating an effective payroll and vendor disbursement system. Many companies and banks have automated the process by using Laser check printing software. Are you considering moving into an automated system but are having doubts about the process? It could be that the doubts keeping you on the fence about moving forward are based on myths, not facts. Here is the real deal – myths vs. facts – about replacing preprinted checks with Laser check printing.
You’ll have to get out your wallet to pay for a special printer. There is a persistent myth that in order to use Laser check printing software, you have to purchase a proprietary and expensive “MICR-enhanced” printer. The myth promotes the falsehood that regular Laser printers cannot print checks that pass the bank certification process.
We have many clients using a readily available and inexpensive Laser printer to print their checks without ANY issues with ANY bank. As long as you purchase good software that contains a good MICR font and you use good MICR toner (not refurbished cartridges) you should have no problems getting your checks passed through your bank certification process.
You’ll have to chase down “special” and hard-to-find MICR toner and safety check stock.
We have been selling Laser Check software for over 10 years and all of our customers use readily available MICR toner and blank safety check stock to print their checks without having ANY issues with ANY bank.
Secure Laser check printing requires security features built into the printer.
This is false. Laser check printing software can do the job better and cheaper with multiple layers of password protection and encryption. It also is more flexible and easy to maintain than a special printer and software does not wear out.
Blank check stock used with Laser check printing software is not as secure as using preprinted check stock.
Storing and securing multiple boxes of preprinted check stock for each of your bank accounts is less efficient and less secure than having a single stock of blank check stock that can be used for all bank accounts. If someone wanted to steal some checks, would they prefer a preprinted check or some blank piece of paper? Software for Laser printed checks requires user verification before an order to print can be submitted.
Dollar-to-dollar, Laser check printing is more expensive than using preprinted checks.
False! Using the same blank check stock for all accounts saves money because you can buy in bulk quantity, reduce storage needs, eliminate the need for expensive signature machines, and reduce human error that can rack up costly overflow pages with paper jams. Laser check printing also allows you to print checks-only on the more expensive check stock and print copies of the checks on plain copy paper. And because the software automates Laser check printing, labor costs are reduced.
Signature Cards provide a better way to capture my “John Hancock” than software printed signatures.
Signature cards wear out, get lost or misplaced, and can be taken off site by accident or intent.Software signatures are encrypted, have multiple layers of password security and printing can be controlled based on check amount or account number. Replacing a software signature is as simple as scanning in a graphic and importing it into the software and it takes a matter of minutes. New Signature cards must be purchased and ordered with delivery days or weeks away. Purchasing multiple cards to ensure having a backup adds an unnecessary expense
Purchasing Laser check printing software requires a hefty upfront cost.
Laser check printing software can be purchased for less than the price of a good line matrix printer or check signing equipment. The ROI with today’s software is months not years.
Laser checks are not accepted by banks.
Laser checks are routinely accepted by banks every day. Companies need to follow simple rules to create checks that pass the bank verification process. Reputable software vendors will work with you to create checks that meet the criteria for bank acceptance.
Laser printed checks cannot be tracked.
Good Laser check printing software should have its own check printing log or check register that logs every check printed. You will be able to input the user that ordered the check printed, check number, amount, payee, and much more. You will have better tracking with Laser check printing than with preprinted check stock.
Laser Check printing software is time consuming and/or not user friendly.
It takes less time to print checks with Laser check printing software then it does with preprinted check stock. Initial check design, setup and implementation is should be handled by the software vendor and only takes a few days.
Now that you’ve seen the top 10 myths debunked, consider adding laser check printing to your IBM i efficiency tool kit.