The Knights Templar, from 1118 to 1307, introduced a cheque system that was used by pilgrims and featured a complex code that only Templars could decipher. Later, in 1811, the Commercial Bank of Scotland printed the first personalized cheques that featured the name of the account holder on the left hand edge. Nowadays, personalized cheques are used by lots of people, and they are more advanced. In fact, individuals can use the internet to order cheques and many will use laser cheques that might have seemed completely absurd if they were introduced to Templars many centuries ago.
A cheque is the most common form of “bill of exchange,” which is essentially an order directed by one party to another to pay money to a third. Though personalized cheques were created long before, the oldest known one still in existence is dated 16 February 1659, and was drawn on Messrs, Morris, and Clayton, who were London scriveners and bankers. Today, Canadian cheques are easy to find and a simple way for individuals to make payments. In fact, there are very few payments that people are unable to use personalized cheques to make.
Payroll includes all of the financial records associated with employee salaries, wages, bonuses, and deductions. In order to simplify it, some managers and owners will issue personalized cheques that help both the company and the employee stay organized. By using personalized cheques, individuals can make sure that the proper payments are going to the right person, which can go a long way towards keeping employees happy and a company running smoothly. So though they might seem insignificant, personalized cheques can actually be quite valuable.