When the bookkeeping is done hastily, mistakes are inevitable. Bills that are past due or imminently due need to be paid quickly and may not always be reviewed carefully before payment is issued, which can lead to billing mistakes going uncorrected. While reviewing each incoming invoice is time-consuming and laborious, it is important for assuring accuracy, and, in the long run, it will prevent money from being wasted.
Checkeeper makes paying bills faster and easier than ever before by issuing custom checks on demand, offering mailing services for those checks that need to go out today, and featuring direct bill-to-check conversion options inside the account that allow users to turn an unpaid invoice into a check payment automatically.
Consider some reasons to review incoming invoices before issuing a fast payment:
Reviewing statements and bills upon receipt helps to ensure that you aren’t being overcharged. Comparing your statements to your written estimates, contracts, or other service documents is advised for ascertaining that actual charges match the agreed-upon amounts.
Avoid paying for services and products you either didn’t order or haven’t yet received by going over invoices carefully. Matching invoice listings with in-house records and orders assures that products and services match orders and have been delivered.
Time and processing delays, as well as entry errors, can cause accounts to become improperly credited. Users can avoid inadvertent overpayments and duplicate payments by making sure that old payments are reflected before issuing new ones.
Fraud costs businesses billions of dollars per year. While most vendors, suppliers, companies, and clients you routinely do business with are trustworthy and accountable, you can reduce the opportunities for mistakes and purposeful abuse by making sure to review each billing invoice carefully and following up on any questionable charges.
Bank reconciliation and account management are much simpler and take less time when you have been regularly reviewing invoices and tracking and documenting your expenses. Going over your billing statements each time they are received keeps your own in-house records up to date, and it alerts your quickly when your own records do not match up with billing statements so that you can deduce where the error or oversight is occurring.
Charges incurred for bills paid past their due date are unnecessary and wasteful. Neglected and disorganized bookkeeping can lead to bills going unpaid for too long, and can rack up late fees or interest charges that can become difficult to reduce or erase later, and they can eventually impact your credit. Setting a schedule to go over incoming invoices each week or month allows users to be more dedicated and disciplined so that payments can be issued on time.
Checkeeper helps busy professionals manage their bills by offering on-demand, printable checks that can be generated from anywhere. Print as many checks as needed, when needed, to issue prompt payments and avoid late fees and penalty charges. When you are out of town—or out of time—order your checks printed and mailed for you. Check orders placed before 4pm EST can be in the mail by the end of the business day according to the speed and tracking option selected.
After reviewing your invoices to ascertain accuracy, take advantage of Checkeeper’s bill-to-check conversion feature that allows users to link compatible accounts in order to have data from unpaid invoices imported directly into Checkeeper for automated check conversion. Check fields will be populated automatically with the appropriate information, and payments due to the same vendor can be consolidated into a single check payment with attached invoice table that breaks down the total.
· Custom business checks with color business logo
· Custom fields that can be added to checks to aid processing and recording
· Automatic recording of payment data in a smart check registry
· Bill-to-check conversion features that save time and improve accuracy
· Mailing options and complete check printing and mailing outsourcing services