Nonprofit organizations are essential for meeting community needs, and good financial management is important for their success. Checks provide a safe, dependable, and clear way to handle donations, grants, and payments for these organizations. Platform’s like Zil Money simplify transaction procedures for them. Whether using QuickBooks Desktop or QuickBooks Online, checks can be imported easily into the cloud-based platform. This simplifies the process of QuickBooks check writing.
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The Relevance of Checks
Checks are still widely used in various transactions. Although various electronic payment options are becoming more popular, checks remain important in certain industries and financial situations. The person issuing the check is called the payer, and the person who receives it is the payee.
Every Check Includes These Elements
- The date when check is written.
- The information about the account owner, who is making the payment.
- The recipients name.
- The amount of check written in both numbers and words.
- A signature line for the person making the payment to authorize the transaction.
- The name and address of the issuing bank.
- A memo line specifying the reason for the transaction.
- The check number is found in the top right corner and is also repeated at the bottom.
- Account number and routing number are usually located at the bottom.
Why Do Non-Profit Organizations Need Checks?
Nonprofit organizations frequently use checks as a dependable way to handle payments and donations. While overseeing grants and contributions, checks provide a clear record that improves financial responsibility which is essential for maintaining transparency in activities of organization. Moreover, checks enable charities to add special notes or instructions that aids in strengthening the identity and purpose. Some suppliers and contributors still prefer conventional payment approaches, making checks key tool for smooth financial dealings.
Empowering Nonprofits with the Cloud-Based Platform
These organizations can greatly benefit from Zil Money’s all-in-one financial management tools. Through the cloud-based platform, these groups can make their payment procedures more efficient, covering everything from printing checks to paying suppliers. The platform facilitates on-demand check printing, eliminating the dependence on pre-printed checks and providing the ability to distribute funds more flexibly.
The integration with popular accounting software helps to maintain accurate records and makes financial reporting easier, which is vital for keeping donors confident and in line with regulations.
Print Checks Instantly
Zil Money allows nonprofits to print checks right away on blank check stock or plain white paper using a standard printer. Printing checks on blank check paper reduces the check printing cost by 80%. You can purchase blank stock easily from online retailers or office supply stores. Thanks to the Check 21 Act, individuals can print checks using a regular printer.
Why is Blank Check Stock a Better Option Compared to Pre-printed Checks?
The main drawback of using pre-printed checks is they contain essential details like account number and routing number already printed on it, making them vulnerable to fraudsters.
Using blank check stock is much safer as it allows to add payment details at the time of printing checks. Since there’s no danger in leaving blank paper unattended, this type of stock is much safer. Apart from security reasons additional benefits of using blank check stock are the following.
Adaptability: Companies frequently need to update account details for both themselves and their customers. Blank checks make these updates simple, eliminating the necessity to throw away old, pre-printed checks.
Cost-effective: Pre-printed checks often lead to overstocking, which can result in financial losses if unused checks are discarded. Blank check stock avoids this issue by allowing you to print checks as required, which saves money on check paper.
The cost of Pre-printed checks usually ranges from $50 to $80 for 250 checks, based on level of customization needed. You can buy blank check stock in bulk quantities, typically acquire 1,000 checks for a similar price.
Tailor Checks to Your Convenience
Zil Money gives you the freedom to personalize your checks at any time using an easy design tool. The drag-and-drop design feature from the cloud-based platform lets you add elements like business logos, unique font style, and background images of your choice.
Simple and Smooth Integration
By integrating QuickBooks with Zil Money, charitable organizations can effortlessly import various checks to the platform with just few clicks. These include those for payroll, bills, and payments to suppliers. Efficient integration reduces the need for manually entering the relevant data, which ensures that funds are disbursed on time for various purposes.
Accurate financial reporting is essential for charitable groups to uphold openness and responsibility. Zil Money integrates with over 22,000 banks and financial institutions in the US and Canada, enabling you to link various bank accounts and check formats. This speeds up the process of aligning transactions with bank statements, helping nonprofits keep their financial records correct and current. With all reconciliation statements in one place, nonprofits can easily compare transactions, monitor expenses, and make sure funds are used as intended.
The significance of checks has not faded away though many digital payment methods have emerged. Technological progress made the process of printing checks quicker, more effective and tailored to individual needs. On-demand QuickBooks Check Writing feature offered by Zil Money helps companies improve their workflow while keeping a polished appearance.
