RE: Forms for AP checks

Good point Michael.

In my opinion however; it comes down to basic ROI analysis, and not risk
minimization.  After all...how many of you have had fraudulent checks
cut against a company account?  Maybe I am being naive but I haven't
heard of this occurring in my 20+ years of business. I am sure it has
happened somewhere but it didn't play a part in our justification for an
automated forms solution.  

Also, we use the Acom (EZ Print) solution to eliminate most all of our
preprinted forms.

Dale Walker
VP, MIS
Gross-Given Mfg. Co.
Automatic Products International
www.automaticproducts.com


-----Original Message-----
From: Michael Laiter [mailto:mlaiter@xxxxxxxxxxxxxxxxxxxx] 
Sent: Wednesday, September 17, 2003 3:35 PM
To: 'mapics-l@xxxxxxxxxxxx'
Subject: Re: Forms for AP checks

Hi Bryan,

There are different paper options when it comes to printing checks. I
think
individuals need to assess the risk of fraudulent checks with each
option. 

The riskiest is purchasing pre-printed check stock with the lines /
boxes /
headings / logos / MICR line already printed on them. This check stock
needs
to be stored in a very secure location, because someone got their hands
on a
few sheets of this stock, they could create a fraudulent check on an old
fashion typewriter or send it through a standard printer. 

The opposite end of the spectrum is using a forms package and a secure
MICR
printer to generate your checks. In this scenario, you could purchase
blank
check stock. The forms package (in conjunction with a secure MICR
printer)
will generate the checks. This will include the
lines/headings/shading/MICR
line/etc. 

The nice thing about this option is that you dramatically reduce the
risk of
fraudulent checks. With a secure MICR printer, you can limit the users
that
have the authority to print checks. You can even securely turn off the
feature that enables MICR lines to be printed. 

Michael A. Laiter
Manager, Professional Services
Quadrant Software
Phone: (800) 258-3399 x495
Fax: (508) 828-6242
Email: mlaiter@xxxxxxxxxxxxxxxxxxxx
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