Reducing Financial Risk: Two Vital Tips for Safe Cheque Preparation
Managing a large volume of payments requires strict discipline and robust system controls. To build a stronger and safer financial system, Finsys ERP highlights two critical safety measures. Consequently, every accounts department should follow these steps to prevent fraud and costly errors.
[Image: A printed business cheque with a security cello-tape strip over the amount and name]
1. Enable the “Double Printing” Lock – Prevent Cheque Fraud and Double Printing
In a busy accounts office, it is very easy to print a cheque twice by mistake. This error often happens when you deal with recurring monthly bills from regular vendors.
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The Risk: Without a system lock, management might unknowingly sign two cheques for the same invoice. Therefore, this oversight leads to double payments and major financial loss.
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The Finsys Solution: Our ERP includes a feature that identifies if a cheque has already been printed. If a user tries to print it again, the system blocks the command and issues a warning.
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Next Step: You should contact the Finsys team to enable this control for your organization immediately.
2. Prevent Manipulation with Cello-Tape – Prevent Cheque Fraud and Double Printing
Cheques in transit are often vulnerable to sophisticated fraud. Modern laser printers use toner that unscrupulous parties can sometimes remove chemically.
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The Security Hack: You should always apply transparent cello-tape over the Payee Name and the Amount after printing.
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Why it Works: If someone tries to peel the tape or use chemicals to alter the ink, the paper will tear. In turn, the cheque becomes useless, which effectively prevents fraud.
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System Reminder: Finsys ERP provides a pop-up reminder asking: “Have you applied the cello-tape?”. This prompt ensures your team follows the Standard Operating Procedure (SOP) every single time.
Conclusion: Making Business Safer
Whether you use manual cheques or computer-generated ones, these small steps create a massive barrier against financial crime. By enforcing these Standard Operating Procedures (SOPs), you make your company more agile, secure, and ready for growth.
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