Are you currently using payroll software to process your payroll? Although there are various ways of paying employees such as direct deposit and debit cards, many businesses still use checks to pay some or all of their employees. There are two ways you can print your payroll checks: with blank check stock or on preprinted forms.
If you choose to print on blank check stock, you must use MICR or "Magnetic Ink Character Recognition" ink, a magnetic ink that can be detected by check processing machines. On the other hand, using preprinted forms does not require you to have any special ink for your printer, since the forms are already printed appropriately and shipped to you that way.
The biggest benefit to printing on blank check stock is the flexibility you gain. If you need to make changes to the way your checks look, you can do so at any time and not worry about having to throw out the preprinted checks that are sitting there in boxes. Another advantage is the ability to print checks from multiple bank accounts, as all the bank information is printed on the blank stock by the software. This is particularly handy if you are printing checks for several companies since you won't need to order checks for each company. Printing on blank check stock also allows you to print signatures on your checks, helpful in the case that the check signing party is away or simply unable to sign checks.
Using preprinted checks may be more convenient for some companies, since it is fairly simple to order the correct checks for your software, and then keep ordering the same product from your vendor. This option is best for companies who are fairly certain they will not require any changes to the look of their checks. Using blank check stock is also easy once you get it set up, but keep in mind you will still need to keep enough of the special MICR ink in stock.
Obviously, printing checks takes paper, no matter which method you choose to use. You can save paper and money by planning in advance for changes that might require you to purchase new checks and toss out the outdated preprinted ones. If you know about such changes in advance, a good idea is to begin using blank check stock, so that when the change is made, only your check design will need t be changed.
Choosing the right method of check printing for your business can save you valuable time and money!