Re: Check scanning/depositing

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