Depositing Checks After Party: What to Do?

[melaniepc]

when do you deposit the checks for payment from your party? do you put them right in the bank after the party or wait until the whole order is ready to submit or after you submit it? I am just wondering where I have a party from last week that the host is holding open , should I deposit those checks or hang on another week?

 

[DebbieJ]

I deposit them right away after the party. Then I can catch it before we close if one of those checks happen to bounce.

 

[jesusluvsu2005]

I deposit them asap. I don't have any credit cards and will not have any so I have to have the money from these checks to pay for the show. Plus, if you go ahead and deposit them before it closes when you're holding it open for a week or so then you have a greater chance of catching anyone who bounces and holding their stuff until you receive payment. They should know that when they are paying you, that's payment just like you pay anywhere else and that it could be cashed the very next day, kwim?
God bless,
Amanda

 

[heat123]

I try to deposit them ASAP and try and make sure they have cleared before I send-transmit my shows.

 

[melaniepc]

ok cool. my first four show closed right away so this is the first one I am waiting for ..

 

[missmindym]

I deposit right away unless I am holding all of them to close the show on a payday or something.

 

[cathyskitchen]

I deposit them right away after the party. Then I can catch it before we close if one of those checks happen to bounce.

I do the same and let them know I"ll be depositing the next day.

 

[MissChef]

I deposit them right away after the party. Then I can catch it before we close if one of those checks happen to bounce.

Yep, What Deb said!!!!

 

[Chefstover2]

I guess I'm the odd one out...I don't want anyone trash-talking me if the host decides to delay closing, saying I've cashed their check and never delivered the products. I wait until I submit the show...I've only had 2 bounced checks in 6 years.

 

[jbdowd0798]

I hold all the checks til I close the show just in case someone changes there mind. Knock on wood...I've never had a bounced check.

 

[legacypc46]

I deposit checks within 24 hours. I'm not comfortable with the idea of a check bouncing and the customer possibly still getting their order....and then dancing around over the money. This happened to me early on in my business and it nearly cost me $180. It took almost four weeks and multiple deposit attempts (on two separate accounts) to get my money...and then only because the second bank took pity on me and choose to process it using an overdraft authorization the customer had on the account. (She was subsequently arrested for several thousand dollars in check fraud...so I was breathing a huge sigh of relief!)

 

[PChef_ang]

I deposit right away unless there's a special request to hold the check for a couple of days which I generally will do..

 

[chefshawna]

I wait until I close the show. Of course, I have had a couple check's bounce, but I have all orders shipped to me so it's not a problem. They don't get their products until they pay me the total plus fee.

 

[chefpenny99]

I deposit them when I close the show. In almost 12 years of doing PC I've only had one check bounce.

 

[dannyzmom]

I deposit checks within 24 hours. I'm not comfortable with the idea of a check bouncing and the customer possibly still getting their order....and then dancing around over the money. This happened to me early on in my business and it nearly cost me $180. It took almost four weeks and multiple deposit attempts (on two separate accounts) to get my money...and then only because the second bank took pity on me and choose to process it using an overdraft authorization the customer had on the account. (She was subsequently arrested for several thousand dollars in check fraud...so I was breathing a huge sigh of relief!)

Ditto what Leggy said...

 

[redsoxgirl]

I deposit them as soon as I can.
I either bring them to the bank the next day or so or I drop them in the mail that night.

 

[pamperedlinda]

I deposit ASAP. Unless someone asks me to hold their check for a few days it goes in the bank the next day.

 

[chefsteph07]

I deposit when I have EVERYONE'S payment and submit the show.
I can't break up checks/payments, etc, I just want to put it all in at once! LOL

 

[Sheila]

I have met people in the past who go off the current bank balance vs. using a checkbook register. For those people, if you hold the check too long, they forget that they've written it and spend the money elsewhere. Therefore, I deposit checks ASAP. I'm still new to Pampered Chef, but agree that by depositing it sooner, I have a better chance of getting payment if a check happens to bounce.

Side note: I'm on a military base in Japan. All of my customer's are military & know the inconvenience of running to another base to go to the bank. Therefore, it's easy for me to encourage them to pay by CC. I just tell them it's easier to just have the money go straight to Pampered Chef and not have to deal with running to the bank. (When what I'm really saying is the less checks I take, the less chance I have of dealing with a bounced check!) LOL

And I do have one customer who pay's cash now. Her first show, 2 different CC's were rejected. She finally came and paid me cash so I could submit the show. Her 2nd & 3rd orders, she just paid cash in lieu of even trying her CC. I'd much rather call & say that PC is saying the CC is denied than dealing with a hot check.

 

[DessertDivaFL]

I deposit ASAP. Unless someone asks me to hold their check for a few days it goes in the bank the next day.

I do the same thing!

 

[chefann]

Same here. In fact, I just got back from a bank run with checks from yesterday's show.

 

[ambreaux]

I have done it both ways in the past. But I just recently decided to deposit all money/cks at the same time in my account. That way when PC debits my account it is for the same amount as the deposit. (a lot easier to keep track of on my end) Also, if you have someone bounce a check, just let them know and ask for the cash instead of other forms of payment....
amber

 

[floccies]

Deposit them right away. (My next trip into town.)

Remember your mileage to deposit checks is deductible.

 

[jrstephens]

I deposit mind when the show closes before I submit. I like to deposit the whole show at once b/c it is easier for me to make sure my totals match up before I submit the show.

I have only had one bounced check and the customer alerted me that it was possible before I even knew it, so, I haven't had to worry about that yet.