Depositing Checks After Party: What to Do?

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Discussion Overview

The thread explores various approaches to depositing checks received from parties, with participants sharing their personal experiences and preferences regarding the timing of deposits in relation to party closures and payment collection.

Discussion Character

  • Anecdotal
  • Opinion-based

Main Points Raised

  • One participant, identifying as a consultant, mentions depositing checks right away to catch any potential bounced checks before closing the party.
  • Another participant shares their experience of depositing checks as soon as possible, emphasizing the importance of having funds available to pay for the show.
  • Several users mention that they prefer to deposit checks immediately after the party to avoid complications with bounced checks and to ensure timely payment collection.
  • One participant notes that they wait until the show closes to deposit checks, expressing concern about being perceived negatively if the host delays closing.
  • Another participant states they hold checks until the show closes to avoid issues if someone changes their mind about their order.
  • One participant describes a past experience where a bounced check caused significant issues, leading them to prefer immediate deposits.
  • Several users indicate they deposit checks within 24 hours, citing comfort with avoiding bounced checks and ensuring customers receive their orders only after payment is secured.
  • One participant mentions that they deposit all checks at once for easier tracking of totals when submitting the show.

Areas of Agreement / Disagreement

Views differ on the timing of deposits, with some participants favoring immediate deposits while others prefer to wait until the show closes. No clear consensus emerges on the best approach.

Contextual Notes

Participants share experiences that reflect a range of practices based on personal comfort levels, past experiences with bounced checks, and the nature of their customer interactions.

Who May Find This Useful

Consultants looking for insights into different practices regarding check deposits and payment collection may find this discussion relevant.

M
melaniepc
Messages
311
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?
 
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 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
 
I try to deposit them ASAP and try and make sure they have cleared before I send-transmit my shows.
 
  • Thread starter
  • #5
ok cool. my first four show closed right away so this is the first one I am waiting for ..
 
I deposit right away unless I am holding all of them to close the show on a payday or something.
 
DebbieJ said:
I deposit them right away after the party. Then I can catch it before we close if one of those checks happen to bounce.
Click to expand...

I do the same and let them know I"ll be depositing the next day.
 
DebbieJ said:
I deposit them right away after the party. Then I can catch it before we close if one of those checks happen to bounce.
Click to expand...

Yep, What Deb said!!!!
 
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.
 
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.
 
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!)
 
I deposit right away unless there's a special request to hold the check for a couple of days which I generally will do..
 
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.
 
I deposit them when I close the show. In almost 12 years of doing PC I've only had one check bounce.
 
legacypc46 said:
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!)
Click to expand...

Ditto what Leggy said...
 
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.
 
I deposit ASAP. Unless someone asks me to hold their check for a few days it goes in the bank the next day.
 
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
 
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.
 
pamperedlinda said:
I deposit ASAP. Unless someone asks me to hold their check for a few days it goes in the bank the next day.
Click to expand...

I do the same thing! ;)
 
Same here. In fact, I just got back from a bank run with checks from yesterday's show.
 
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
 
Deposit them right away. (My next trip into town.)

Remember your mileage to deposit checks is deductible.
 
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.
 

Frequently Asked Questions

What should I do immediately after receiving checks from a Pampered Chef party?

After receiving checks from a Pampered Chef party, you should ensure that all checks are made out to you and are properly signed. It's also a good practice to keep a record of each check, noting the amount and the name of the customer who wrote it.

How soon should I deposit the checks after a party?

It's recommended to deposit the checks as soon as possible, ideally within a week after the party. This helps to ensure that you have access to the funds promptly and reduces the risk of losing any checks.

Can I deposit checks using my mobile banking app?

Yes, many banks offer mobile deposit options that allow you to deposit checks using your smartphone. Just make sure to follow your bank's specific instructions for mobile deposits, including taking clear pictures of the front and back of the checks.

What if a check bounces after I deposit it?

If a check bounces, your bank will notify you, and you may incur a fee. You should then reach out to the customer who wrote the check to request a different form of payment. It's important to keep communication open and professional to resolve the issue.

Do I need to keep a copy of the checks I deposit?

Yes, it's a good practice to keep a record of the checks you deposit. You can take a photo or make a photocopy of each check before depositing it. This will help you track payments and resolve any discrepancies that may arise later.

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