Small Business owners: ? about payment processing

[1bassoon]

Where are my Hive peeps who run their own small business?

 

Question: Do you make physical copies of checks given to you by clients?

 

I've always just recorded name and check #, but yesterday our co-op leader handed me a stack of checks (payment for teaching science), with copies of the front of each check. Is that necessary? What do you think?

 

And any advice on justifying an iPad as a business expense :D would be MUCH appreciated!

[dirty ethel rackham]

I usually don't make copies of checks. However, when I have been in a rush to depost them, I make copies so that I have the contact info handy in case I have any NSF issues. This is only if I haven't had time to record that information somewhere else. I usually make a spreadsheet of payments instead of keeping copies of checks. If I make a copy, I need to shred that information later.

[1bassoon]

See, that's what I thought. . . . I was trying to convince our co-op leader that she was doing extra work for the teachers.

 

Thanks for the help! Off to work on my list of, "Why I need an iPad to teach science co-op and piano lessons!"

[Mommyfaithe]

No... I record # and date...amount. Just pertinent info. I do not have the time to copy every check.

[CyndiLJ]

We just purchased two iPads to use as cash registers this year at our restaurant. We justified it easily by comparing the cost of new registers which we were due to buy, along with the difference in using Square as our credit card processor versus our old processor. The switch to Square alone was enough to justify it, and their register software is FREE and super easy to program and use.Very useful, and helping us track our sales far more easily.

[violamama]

I make a physical copy AND I use the ATMs that make a copy on my receipt. I tend to overdo things, though. I deal with a lot of checks each year- probably 500 or so. I've found that when there's an issue with one, it's nice to have the full copy. I keep them for our records and don't shred them until the 7th year.

 

I have the Intuit version of square and should be using it on my iPad but I've been too lazy to get it going. We don't do a lot of point of sale stuff, but maybe could in the future. I use the iPad for just about everything else, including making phone calls through google voice.