Handling Cheques Better

6508 reads

E-business may take the business world by storm, but cheque based transactions are still a favourite choice for many businesses today. However, doing business with cheques involves writing, depositing, collecting, posting, recording in the system, managing information and much more. As the number of cheques being dealt with increases, the amount of work required to handle these cheques also multiplies. Simply put, management of cheques and its related transactions is more than just writing cheques; it requires a lot of back-end work. So, a proper solution for managing cheques and its related transactions is extremely important for smooth operation of a business.

Let’s take an example of a company which receives and sends multiple cheques belonging to various branches of different banks. Without a capable cheque management solution, getting even simple information like the number of pending cheques or issued dates of particular cheques is a time-consuming affair for a company.  Also, at the time of passing transactions, it becomes important to manually check whether the cheque numbers entered in invoices are accurate and no duplicate numbers are entered. All this and more will take a toll on business productivity and efficiency.

But, what if there is a cheque management system that provides automatic cheque numbering while passing a transaction? Or, what if this system lets you access all the information about a particular cheque or range of cheques instantly, all from a single place? This is where a feature like the comprehensive cheque management capability in Tally.ERP 9 fits in. Such a system not only provides cheque management but also supports printing of multiple cheques, of various sizes and styles belonging to different banks, with ease; thereby taking a business’s cheques handling process to the next level.

For example, in Tally.ERP 9, users just need to define a cheque range for the bank ledger and Tally will fill up the rest of the details if auto-numbering is enabled. Further, a cheque register in Tally.ERP 9 provides instant information about issued dates, number of cancelled cheques, used, unused or reconciled cheques etc. Searching a particular cheque or sorting cheques based on dates etc. can also be performed easily. Moreover, you can choose what cheques to print based on the business requirement at the end of day.

Hence, if your business handles cheques on a regular basis, a fully equipped cheque management system is a necessity. This way, you can easily do end-to-end tracking of cheques from the time of issue till the time of reconciliation to drive your business growth to its fullest potential.

Authored by: Laldinfela Pachuau

Trending

570
misner's picture

Dude, Where are my Wheels? Why Networking Helps – Even in the “Hood”

I recently visited Los Angeles and drove through an area that I grew up around.  I was regaling my wife with a story about a job I had in a pretty tough neighborhood when I was in college.  At the end of the story she said, “you have to
484
Harvey Mackay's picture

Resourcefulness = “Of Coursefulness”

A firm needed a researcher. Applicants were a scientist, an engineer and an economist. Each was given a stone, a piece of string and a stopwatch and told to determine a certain building’s height. The scientist went to the rooftop, tied the stone to
540
johnsullivan's picture

Sourcing Is the New Recruiting

I have some excellent news for you. Sourcing is the place to be in talent acquisition today! Recruiting as it has traditionally been known is going away. Increasingly companies are adopting recruitment process automation, and that means that there
569
harvardbusinessreview's picture

How to Prepare for a Panel

Make sure to connect with the moderator beforehand.
527
johnsullivan's picture

HR Roundtable: The Value of a Multi-Generational Workforce

In the classic rock anthem My Generation by The Who, lead singer Roger Daltrey screams, “I hope I die before I get old.” He echoed a sentiment of the times, but he never knew that he was also doing what...
583
adamgrant's picture

Why Women Volunteer for Tasks That Don’t Lead to Promotions

Here’s a work scenario many of us know too well: You are in a meeting and your manager brings up a project that needs to be assigned. It’s not particularly challenging work, but it’s time-consuming, unlikely to drive revenue, and probably won’t be
535
johnsullivan's picture

How Personas Change Sourcing Outcomes

It’s really intimidating to walk into a room full of people you don’t know. We’ve all had that moment of panic, scanning the room for any semi-familiar face and praying it’ll work. Just one person. I personally hate that feeling....
690
misner's picture

Body Language When Networking

Body language can be a powerful attractant or deterrent when it comes to building relationships with others. People assess you visually within the first fewminutes of meeting you.  I’ve been asked a lot about body language by the media over the
586
adamgrant's picture

This 4-Day Work Week Experiment Went So Well, the Company is Keeping It

A first-of-its-kind four-day work week experiment in New Zealand has come to an end after two months, but the trial went so well the company actually wants to make the changes permanent.While lots of research has shown the numerous benefits a