We find that many businesses do not keep good tabs of their postage meter balances, which can lead to lost funds or dormant/inactive accounts. So far this year we have found over $1,000,000 for our clients and we want to give you the background on why this happens and what you can do to eliminate it for the future.
First off, let’s start with how companies fund their meters. You can either prepay like a checking account, or borrow money like a credit card and pay the balance at the end of the month. Regardless, the moment you press the refill button on the meter, the funds are deposited in the device. Many companies consider the postage they just sent in an expense when in truth it is an asset until the funds are used and should be managed accordingly.