Money. Cash, checks, debit/credit cards, they all fuel small business. When looking at the advantages of laser business checks and credit cards, what combination best fits your needs?
Credit Cards
Credit card companies offer incentives such as; no annual fees, airline miles, low interest rates, reward points, and cash back. Most importantly credit allows small businesses to make large purchases without cash on hand. However, this convenience also makes it easier to exceed financial boundaries. For instance, the fine print may put your business in some uncomfortable conditions long term, once the initial perks expire.
Credit card safety is also a major concern. Credit card fraud totals $5.55 billion worldwide. Online theft requires credit card holders to be cautious. Additionally, keeping business and personal expenses separate is an important part of being a business owner and is harder to track with a credit card. When lines are blurred, bookkeeping becomes complicated and could place personal assets at risk.
Alternatively, business checks are a safe, efficient, and effective solution.
Business Laser Checks
Many small businesses use business laser checks paired with accounting software like Quick Books. Laser checks are created in the accounting program and printed on-demand. All financial transactions are immediately logged into the system and all records are updated in real-time. This process saves time, money, and boosts financial accuracy.
In the digital age, it may seem that paper checks are less convenient than credit cards. Unlike credit cards, checks are directly tied to a business identity, branded with a company’s logo, and are harder to steal. Also, while credit card transactions are often separate from financial records, laser checks provide an instant financial snapshot with each transaction. An accurate view of the current financial standing is simplified in real time.
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