Take it to the bank!

In the world of direct deposit, a lot of people have lost touch with the bank deposit process. Although it seems a fairly straightforward and basic transaction, business owners have a few more details to consider than just filling out the deposit slip. In fact, let's start this discussion with the deposit slip.

Different than a personal account, businesses have to consider a few extra details when it comes to deposit slips. How many transactions do they need to record on the deposit slip? Will someone be hand writing all of the deposit slips or do they prefer to use Laser Deposit Tickets that allow them to process the information from software systems such as QuickBooks? Does the accounting staff prefer to have a seperate book of deposit tickets or a  3-on-a-page format that fits in their existing check binder? Prior to purchasing pre-printed company deposit tickets the features of the tickets should also be taken into consideration. Is the formatting approved by all financial institutions? If not, it could slow down the processing of your deposit and in the business world the old addage remains true - time is money!

After you have reviewed your deposit ticket needs and selected the right format for your business needs, the next item up for consideration is the Deposit Bag.  How much cash is your company handling each day? Will you have equal parts paper and coin? Though the standard canvas bank bags work just fine for most businesses, you might consider the level of security that you need for your deposits. If your deposits are significant in monetary size, perhaps a tamper proof deposit bag might be a better fit. The newest versions of these deposit bags are made for strength and convenience, as well as designed to meet or exceed Federal Reseve Bank requirements. Using a tamper-evident sealing tape these bags offer the comfort of easily knowing if someone has tried to "borrow" a few funds from the company coffer. Worried about the fact that these bags are plastic? Well, turn that frown upside down! These bags are made from recyclable plastic! With a variety of sizes and styles, there are plenty of options to meet your deposit volume needs while also providing the comfort of secure transfer between your business and the bank.

One last item to consider for your business banking needs is the Bank Endorsement Stamp. If your company receives most of its payment via check rather than cash, these stamps could save you from a lifetime of writer's cramps! Listing your company information along with deposit instructions such as "Deposit Only" these stamps can make deposit preparation a quick and simple exercise.

In the world of business, there are no small decisions and this includes such simple acts as making a bank deposit. To ensure that your company funds reach your account quickly and safely consider the type of funds you will be making and spend the extra money on a few key deposit products. The few extra dollars spent on the front end will easily gain you time on the back end which can be spent serving your customers and adding to your bottom line!

Happy banking!