Automatic Internal Controls Reduce Errors and Fraud
Good financial management requires standardized processes for bookkeeping and reliable internal controls to protect a company from mismanagement, errors, and fraud. Maintaining control and oversight into each step of the payment process for funds received and paid out helps prevent both common mistakes as well as opportunities for abuse.
Checkeeper is used by thousands of businesses and professionals every day to assist with issuing payments for routine bills and debt obligations as well as high-volume payment situations, such as customer rebates, refunds, and client settlements. Checkeeper offers account security to protect financial information, and Checkeeper implements some built-in controls to keep account owners in control of their money.
Some ways Checkeeper aids internal control and oversight for business owners in the payment process:
Checkeeper does not touch your funds
Unlike other services that remove funds directly from your checking account or transfer money into a separately-held account, Checkeeper is hands-off. Print checks according to your standards and preferences, and input your account and routing numbers exactly as you want them to appear on the bottom of your check. Account and routing numbers are automatically formatted in the MICR font that bank computers recognize. Changing banks, or paying with funds from a different checking account? Checkeeper enables real-time editing so that you can change the banking data on your checks at any time with no interference from Checkeeper.
Checkeeper only allows authorized users
Only the account holder, “super user,” can access the password-protected and data-encrypted Checkeeper account. Want to add new users and delegate some of the work to a bookkeeper or employee? Add the names and email addresses of users you wish to authorize, and Checkeeper will email them a secure link to follow in order to set up account access. Limit their permissions as preferred to allow check printing, mailing, and/or authorizing payments. Super users can change, expand, or revoke user permissions at any time, giving them control over how the payments are managed.
Checkeeper offers approval processes for added security
For extra security, Checkeeper account holders can add an approval requirement so that they can authorize large or time-sensitive payments before they are issued.
Checkeeper reports list the authorized user for each transaction
Run reports with Checkeeper according to any month, quarter, year, or custom time frame you choose in order to track expenses and reconcile check records with other bank and financial statements. Reports generated in Checkeeper will list all the payment data affiliated with each check, including the authorized user who initiated the check and the date/time of the check’s creation. Checkeeper’s comprehensive reporting features add accountability and transparency to the payment process.
Checkeeper is compliant with HIPAA, GDPR, and SOC II
Checkeeper takes account security seriously. Healthcare and medical offices that use Checkeeper rest assured that personal and financial information on clients is HIPAA compliant. Checkeeper accounts are password-protected and they use the same level of encryption that banks use.
Checkeeper stores check registry records inside the account
Put an end to physical check registries and paper ledgers that can be misappropriated, lost, inaccurately updated, and viewed by anyone. Checkeeper accounts come with an automated online check registry that records and stores the details of each check transaction so that you don’t have to. Reduce errors, improve efficiency, and enhance security through Checkeeper’s online check registry that can be searched on demand according to any check field when you need to locate a specific payment record.
Checkeeper prints only the checks you need
Reduce the chances for misplacement and misappropriation of checks by printing only the checks you need, only when you need them. Blank, ready-to-use checkbooks can be lost, stolen, or mismanaged; they also become wasted when you move, change banks, or open a new checking account. Checkeeper reduces the waste and the storage by enabling custom business checks to be printed with updated information exactly when needed.