Jump to content
Candy Beauchamp

Do you keep the check stubs you print?

Recommended Posts

Back in the day, we always kept the tear off "2nd" check stub, stapled it to the invoice it paid and filed it away. I'm now paperless and I'm still scanning these stupid check stubs. Is that passe now? Needed? Am I old? *laugh*

 

I'm starting to wonder though... do I really need them? Why am I even keeping them? Maybe I should scan them to one file and keep them in numerical order instead of by vendor? That way I have some sort of "paper trail", but even then...

 

So, what do you do?

Share this post


Link to post
Share on other sites

Guest

Wellllllll ... I guess I am still in the old school philosophy because I still keep the 2nd stub and staple to my receipts/invoices/statements. Computers can go down just when you need to find that one receipt to see if you paid it or not. I'm not sure if I will ever trust a 100% paperless office.

 

Deneen Wilson

Share this post


Link to post
Share on other sites

We can't print cheques down here like you guys do and all my cheques are in a cheque book. You write the cheque, the details on the stub and you tear it out leaving the stub in the book. I've always written on my supplier bills the cheque payment details and on my stubs the invoice numbers. I would be inclined to organise the stubs in numeric order.

Share this post


Link to post
Share on other sites

Do we need them - probably NOT. I still staple them to the invoice but I have never had to go back and look something up that I couldn't just look up in Quickbooks. Will I stop saving them - probably NOT... still have some insecurely issues :) :)

 

Kim

Share this post


Link to post
Share on other sites

Candy: Ya know, that's a really good question!

 

For my clients that do their own books (and I just do quarterly reconciliations, or whatever), I strongly recommend that they keep those stubs. They're not professional bookkeepers and those little stubs have saved the day when trying to reconstruct what some of them have done!

 

For myself and any other professional bookkeeper, I don't save them. That's primarily due to the fact that most of my payments are electronic now -- paid through a bank's online bill pay system. There never is a check stub to save.

 

I think the real question boils down to how good you are at backing up your QB (Peachtree, whatever) file. If you're diligent about that stuff, you'll never need to go back and refer to those check stubs. If you forget to backup your file for weeks or months at a stretch, though, I wouldn't lose those little lifelines to reality!

 

Just my $0.02,

Deb

Share this post


Link to post
Share on other sites

Deb, but to play devil's advocate (I backup each night, I'm kind of a freak about it actually)... wouldn't you have online systems to get copies of the checks if needed? *laugh*

 

I think I'm going to just start saving them chronologically :) They are kept electronic either way...

 

I just realized it was one of those things I was doing "because I always have" and I don't think I need to anymore. :)

Share this post


Link to post
Share on other sites
Guest dawn lane

Unable to help you in any way on this Candy. Here in the UK we have to keep the stubs for six years after our annual tax return and our accountants will always ask to see them to tally the accounts.

 

Dawn

Share this post


Link to post
Share on other sites

Its funny, for my business clients, I keep the extra stub and staple to the front of the paid bill. Do I need to - NO But I have the stub so why not.

For my personal clients, I pay their bills online and dont have stubs so I just write Date Paid, Amount Paid, and "Check number"/transaction number.

I guess I just hate to give up my old ways.

Janine Raj

Share this post


Link to post
Share on other sites

I do not, and many of my clients do not use the "stub" checks. They (and I) either pay on-line, direct debit, debit card or hand write the few checks that ARE written. The others use the "3 to a page" checks that don't have stubs anyway.

Share this post


Link to post
Share on other sites

Candy, I'm just like you "old school", I'm very picky about my record keeping. For mine & my husband's business, I keep the 2nd copy of the check stub in order to attach to my invoice so I know check # & paid date in case I can't access the system fast enough if someone calls. I too, to do backups regularly, but I use Carbonite and Intuit's backup system for my QB Accts Edition

 

Most of my clients' bills are paid online so I print the "paid" confirmation from the system and attach to my invoice copy for my records. I notify them that the invoice was paid by supplying them with check date & check # through processes that are set up.

 

I have one client who still insists on sending me a package once a week with invoices & checks (already signed to be mailed) when things are to be paid. I match up the stubs with the invoices & send back to him (& mail the cks out for him). I guess you can consider him to be "old school" too b/c he likes his paperwork but didn't want an accountant in his office. He pays for the expense so what the customer wants, the customer gets :thumbup:

 

I have set a goal for 2010 to "Simplify & Electrify" my systems & my clients' processes! I'll be happy to pass on any ideas to you.

 

Have a great weekend!

K.

 

 

 

Share this post


Link to post
Share on other sites
Guest mljindiana

I came across this post from 2009 when I was researching a similar topic. I'm curious now that 4 years have gone by if anyone has eliminated the process of attaching the check stub to the invoice. I agree with the original poster - we keep all electronic records so why is it necessary to go through the process of moving an invoice from an open file to a paid file and attaching a payment stub? Especially when this can take hours each week for a company with a large check run? I'm looking for the value added benefit of this process and having trouble coming up with the justification, other than "because that's how its always been done". Thoughts? Anyone switch to not attaching the check stub? If you have do you still print and just file them in a weekly folder? Any problems discovered after switching to this procedure? Thanks for the input.

 

Share this post


Link to post
Share on other sites

I still keep the check stub :-X I don't know why because I've never needed it but I guess it makes me feel better. My bank scans in checks that I deposit so if I needed to I could always get a copy of the check but yet I keep the 2nd stub. Maybe I should stop.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Want to Become a VA?
    Invest in The VAC!
    How Do YOU Startup A

    Virtual Assistant Organization Association
    Upgrade Your FREE Account & Receive Today...
    * Access to Our Bus JOB Board *
    * Group Coaching & Training*
    *Training Tracks*
    * Private Mastermind Area *
    * Business Templates *
    * Contracts & Forms*
    * Plus VAinsider Perks! *
    UPGRADE HERE


    Virtual Assistant Organization Association

    Virtual Assistant Organization Association







    HootSuite - Social Media Dashboard




×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.