Today, Businesses rely heavily on software tools to manage their Accounts and Finances. QuickBooks is one such popular tool that offers various Accounting Services online for small to medium-sized companies. This tool provides an easy way for companies and individuals to keep track of their expenses and maintain good Financial Health. Accounting, Invoicing, Payment Management, etc., are the key use cases of this convenient tool.
During any Financial Transaction, businesses often use Cheques as a mode of payment. QuickBooks offers a digital version of these Cheques in the form of QuickBooks Check. Companies can link QuickBooks Check to their Bank Accounts and fill in the details of the receiver using the QuickBooks Dashboard. Afterward, they can print this Check on blank paper and use it to fulfill their payment needs.
This article will introduce you to QuickBooks and QuickBooks Check. It will also list down the types of Checks that QuickBooks has to offer. Moreover, it will provide you with a step-by-step approach for writing a Check using QuickBooks in no time. Read along to understand QuickBooks Check and its benefits for your business!
Table of Contents
Introduction to QuickBooks
QuickBooks is an easy-to-use online accounting tool that businesses of all sizes use to track their Finances and manage their Income and Expenses. In 1983, Intuit launched this Accounting Software as a solution for Personal, Business, and Tax Management work. You can use QuickBooks for Invoicing Customers, providing Online Payments, Reports, and Auditing Taxes. Moreover, QuickBooks products come in multiple versions that are customized for different users such as Quickbooks Online, QuickBooks Desktop, etc.
Due to its Cloud-based architecture, QuickBooks Online is the most in-demand QuickBook product in the current market. It is effective for small to medium-sized businesses to manage their Income, Accounting, Payroll, etc., without using any additional infrastructure. It also provides an online portal that lets you monitor and manage all of your Business Accounts easily. Furthermore, QuickBooks Online supports a mobile application suitable for both Android and iOS. This way you can manage the Sales Receipts, Track Expenses, Review Transactions and, Communicate with customers on the go.
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Introduction to QuickBooks Checks
QuickBooks Check is a software service that simplifies the Payment Management work of businesses of all sizes. QuickBooks Check offers you a hassle-free method of issuing Checks and keeping track of your Cash Outflows. Moreover, it offers various types of Check Templates all of which can be easily printed on a Blank Check. Therefore you can avoid the trouble of storing pre-printed Checks for individual users and can manage all of your Payees on the same QuickBooks Dashboard.
QuickBooks Checks safeguard you from errors and maintain the consistency of your Bank Account data. Creating a QuickBooks Check will credit the Payees Account and debit the cost of services used from your Account. Moreover, it maintains a detailed record of all the monetary transactions that you perform using Checks. QuickBooks Check is a digital equivalent of a real-life cheque. The only difference is that you create it online and then print it on real paper.
You can learn more about QuickBooks Check, here
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Types of QuickBooks Check
QuickBooks provides 3 types of Check which are tailor-made for different uses. Depending upon the price and usage, you can choose the right Check for your business from the following 3 options:
Voucher Checks consist of the following 3 units:
- Vendor or Employee Check
- Payroll Check
- Accounts Payable Check
The first unit is sent to the Vendor while the other two are for recording purposes alongside Invoices. The Voucher Checks are easily compatible with QuickBooks Desktop, QuickBooks Online, and QuickBooks Payroll. Moreover, it will automate the process of tracking Salary Deductions and Bills. It will also allow you to have a backup of your paper files containing Payroll and Supplier Payments.
Standard Checks operate on a structure similar to Voucher Checks. However, you can not store them as file records. Standard Checks are cheaper as compared to other QuickBooks Checks but have limited functionality. These Checks are easy to use and are compatible with most versions of QuickBooks except QuickBooks Online Payroll. Furthermore, If you wish to utilize Standard Check to settle Bills, you will have to add additional information like Invoice Numbers, etc manually.
You can use Wallet Checks to keep track of your Payments and other Expenses. It is convenient to print them and carry them in a wallet. These checks will automatically maintain records of your payments from the time of a Check’s printing. You can deploy Wallet Checks with any version of QuickBooks.
Apart from the above 3 Checks QuickBooks offer certain handwritten Checks which you must upload to the QuickBooks Dashboard manually. They are not compatible with any version of QuickBooks and are rarely used.
Steps to Create A QuickBooks Check
QuickBooks Checks are a convenient way for you to settle business-related Payments. You can easily create a QuickBooks Check using the following steps:
Step 1: Build a New QuickBooks Check
Open your QuickBooks Online Account and click on “+ New” in the Navigation Bar. It will pop open a drop-down menu. Look for “Vendors” and in that list, choose “Check”. The Check option is shown in the below image.
Step 2: Configure the Details for QuickBooks Check
On the create Check Dashboard, the “Payee” option is present in the top left corner. Click on it and you will see a drop-down list. This list contains the name of the Vendors or customers to whom you will address the Check. If the name is not present in the Payee list, click on the “Add new” option in the Payee dropdown list.
Now, visit the “Bank Account” option which is placed near Payee and select the Bank Account from which you wish to withdraw money. The screen will display the “Balance” of the selected account. This is shown in the below image.
Step 3: Configure the QuickBooks Check
The “Mailing Address” field located below the Payee option, contains the address of the receiver whom your QuickBooks Check will address. However, if in Step 2 you have added a new name, then you need to manually enter the address of the receiver.
To save the new Check and print it at any other suitable time, use the “Print later” option. The toolbar at the bottom of this Check window provides buttons such as “Cancel,” “Print Check,” “Order Checks,” “More” etc, that you can use to manage QuickBooks Checks.
Step 4: Print the QuickBooks Check
If you want to save and print the current Check, click on “Print Check” present on the bottom Toolbar. The first time you click this button, QuickBooks Online will ask you certain configuration questions answering which will allow you to print the saved Check.
If you have selected the Print Later option in Step 3, then open the “Vendor” option from Quickbooks Online Dashboard and select “Print Check” from the drop-down menu. The resulting screen is shown in the below image.
This will allow you to align your Checks and will also represent the saved Checks. Finally, select your desired checks and click on “Print”.
Benefits of Creating QuickBooks Checks
Now since you have learned the steps for creating QuickBook Checks, it’s time to dive into its benefits. Your business can experience the following benefits by using Quickbooks Checks:
- You may use multiple accounts for managing Payroll and Paying Bills. Tracking all this activity manually can be cumbersome. Moreover, printing Checks from different accounts and transactions can create chaos. QuickBooks Check safeguards you from any ambiguity or confusion. It will collaborate the data from all your Accounts and enable you to print Checks from multiple Accounts in an error-free manner. Moreover, using QuickBooks will cost you less time and money as compared to managing Checks using any other tools or even manually. Another big advantage is that with the QuickBook Check, you can avoid Accounting errors and save huge losses.
- Real-time applications require you to fill your printer tray with Checks of a specific format. This format will vary depending on the purpose of Checks that you wish to print shortly. However, often you will need to print Checks with different formatting and usage. QuickBooks allows you to have a single format blank Check which can be customized to all formats. This way QuickBooks streamlines the Check printing tasks for you.
- Your business may cater to multiple Clients and Bank Accounts. This poses a difficult situation as you need to maintain pre-printed Checks for each Client and Bank Account. However, integrating your business with the QuickBooks Online Check Writer will allow you to manage the Checks required for all your Clients on a single platform. You can create different Checks and download their formats to the QuickBooks Check Writer. This way you can print Checks for any Account on a blank Check Paper without any hassle in one click. You don’t have to store pre-printed Checks anymore if you use QuickBooks Check.
- QuickBooks provides you safety with its Blank Check facility. Pre-printed Checks are prone to various frauds as they have your Bank details present on them. Therefore having a Blank Check for all your purposes will save you from any possible Check Fraud. Using the QuickBooks Online Check Writer, you can keep your bank details away from privy eyes and print Checks safely onto harmless Blank Papers.
This article introduced you to QuickBooks and QuickBooks Check. It also listed the different types of Checks that QuickBooks has to offer. The article further discussed the steps required to write a QuickBooks Check. Furthermore, it explained how this tool can save you a lot of time and provide you with a secure way of settling your Payments.
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