Hardwood Flooring February March 2018

By Bree Urech-Boyle

the number of trips to the bank considerably just by processing everything electronically on the spot. If you get several checks in one day, the scanner is something to look into; in fact, we use one here at NWFA. To strengthen our internal controls, we have one employee scan them in, and a different employee reconciles them. It is a simple way to protect our association’s dollars. Your bank representative would know about these products and may have other suggestions for your business. RECENT TAX LAW CHANGES As this article is being written, Congress is hashing out the proposed Tax Cuts and Jobs Act bill. Speculating on how this turns out could fill an entire magazine, but would be outdated by the time you read this article. So I would suggest that you invest some time learning what fundamental changes were made.

but there are many reputable ones fromwhich to choose. As a starting point, look into the comparisons of different options found on pcmag.com. They are a dependable source of data and compare them side-by-side. Positive pay and remote deposit are two banking tools that can help you go digital while remaining secure. Positive pay is a service that allows you to upload a digital file of the checks you have written. If anyone tries to submit a check against your account that isn’t on the list, it will be flagged and require your approval before processing. It is a good practice to reconcile your bank accounts each day, but many people can’t make that happen, so positive pay protects you against a charge that you might not catch in time to get it reversed on your own. Remote deposit can be done through a scanner that is hooked up to your computer, or many banks now allow you to take pictures of checks to upload to your account. You could reduce

the magazine of the national wood flooring association

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