It is important for every entrepreneur, whether they are Gen Z, Gen X, or millennials, to know about checks and their basic information, like the check account number. The blog will give you an idea about what checks are and how to create checks online.
The entrepreneurial mindset is booming with the next generation entering the workforce. Gen Z is increasingly proving to be the entrepreneurial generation, with the majority wanting to set up their own business.
“Gen Z is proving to be the most entrepreneurial generation yet, and it’s no coincidence,” Sam Jones, Dragon’s Den star and founder of Gener8, said in a survey. “Unlike previous generations, they’ve grown up fully immersed in the digital age, where information, tools, and global connections are just a click away.”
In this advanced digital age, not only Gen Z but everyone can become their own boss by starting a business at their fingertips. Finances can be easily handled with modern financial technologies. Right away, start your own business and let the best payment platform manage your financial operations.
Click Here To See Interactive Demo⬇
What are Checks and Why Print Checks Online?
A check is a written or electronic document that instructs a financial institution to transfer money from one account to another. Zil Money offers an online check printing service where businesses can create and print checks. The things you need to make a check payment are a laptop or mobile phone, check paper or regular paper, and a standard printer. The platform allows you to design checks with the drag-and-drop tool. Users can customize checks online by adding their business logos, font styles, colors, background images and memos. Predesigned check templates like payroll templates, premium templates, etc., are available in the software to instantly create and print checks. Your business can save up to 80% of check printing costs by eliminating pre-printed checks.
How to Read a Check?
Zil Money allows you to print check details and information on the check easily whenever you need it.
- Personal Information: The name, address, and sometimes phone number of the account holder (top left corner).
- Date: The date the check is written, near the top right corner.
- Payee Line: The line where the name of the person or entity receiving the check is written (“Pay to the Order Of”).
- Amount in Numbers – The numerical value of the payment (next to the dollar sign).
- Amount in Words – The written-out amount, used as a backup to prevent fraud or errors.
- Memo Line – An optional line to note the purpose of the check (bottom left corner).
- Signature Line – The account holder’s signature authorizing the payment (bottom right corner).
- Bank Information – The name and address of the bank where the account is held, printed on the check.
- Routing Number – The nine-digit number identifying the bank, located at the bottom left.
- Account Number – The unique number associated with the account, located next to the routing number.
- Check Number – A unique number assigned to the check, located at the bottom right.
Why are Pre-Printed Checks ‘Outdated’ for Gen Z Businesses?
Digital-First Mindset
Gen Z grew up with fast and efficient digital technology and prefers online and mobile payment methods. Zil Money is mobile-friendly, and users can download its app from the Google Play and iOS App Stores. The platform offers faster transactions and eliminates the need for physical handling and mailing of checks.
Cultural Shift
Gen Z views pre-printed checks as old-fashioned and inconsistent with their business practices. Also, the younger generation wants convenient payment methods that align with their speed and expectations. Zil Money offers secure, instant and on-demand check printing and mailing without the need to store and safeguard checks.
Complete Remote Operations
Recent global events like the COVID pandemic made Gen Z more likely to stay in their comfort zones. The online check printing software allows you to create and print checks from the office, home or on the go. Businesses can send and receive electronic payments online at affordable fees. From a single interface, users can manage accounting, payroll and reconciliation without switching apps.
Credit Card Trends and High Usage
50% of Gen Z has a credit card and a prime credit score—and they’re more credit active than millennials are. The global financial crisis after the pandemic has led them to rely more on credit cards than other generations. Zil Money allows you to send check mail via credit cards and maintain the business’ cash flow. The platform eliminates payee charges on credit card transactions and users can earn reward points, discounts and perks via payments. Businesses can send payments via ACH, wire transfer, virtual cards, eChecks and many more.
How to Record Check Payments?
Zil Money’s electronic checkbook register can simplify the process by balancing your checkbook and reconciling bank statements automatically, all in one place. The cloud-based software can connect multiple checking accounts and record all payment history in detail. The digital checkbook register will help you track all your transactions and give you a full record of your check transactions for free. By keeping track of all your transactions in one spot, a checkbook register can help you budget your costs. It also aids in the prevention of check fraud and the avoidance of bouncing checks. Whether it’s closing month-end or quarter-end reports, the all-in-one platform is designed to meet the needs of small businesses.
Conclusion
Zil Money empowers Gen Z entrepreneurs and businesses of all sizes by providing customized payment solutions. From printing checks online to tracking expenses, the platform simplifies every aspect of financial operations. With such modern solutions at your fingertips, running your business is as easy as pie. Embrace the change, stay ahead of the curve, and let technology take the trouble out of managing your money!
