Q: How much do cheques cost?
A: A cheque costs a business between $9 to $25.
According to a study conducted by Scotiabank in 2015, each individual cheque that is issued can cost an average business between $9 to $25. This takes into account of the actual cost of the cheques, employee time, mailing and distribution costs, and the cost to reconcile with accounting records.
Plooto is built to replace cheques - save up to 90% in time and money spent in manual processes.
Cheques have been around since the 14th century and is one of the major bottlenecks of your payables and receivables processes.
Plooto can help you replace paper cheques and have your entire bill payment and receivables processes managed all in one location, saving you time, money, and paper. Cut time spent on managing payments from days to seconds.
We work seamlessly with Quickbooks and Xero to automatically pulls your bills and invoices. You can then easily send or request for payments electronically and automatically reconcile with your accounting records once the payment is complete.