Final answer:
A separate checking account for payroll assists in protecting and controlling payroll funds by providing a distinct space for easy monitoring, management, and auditing while preventing overdraft fees.
Step-by-step explanation:
Having a separate checking account for payroll checks does indeed help to protect and control payroll payments. It facilitates transactions by providing a dedicated space for payroll, which simplifies the management of company funds and helps in maintaining an accurate cash flow. This approach also minimizes the risk of errors and fraud since the payroll account activity can be monitored separately, making it easier to reconcile and audit. Separating payroll from other financial transactions allows for a more straightforward balancing of the checkbook and helps avoid issues such as overdraft fees caused by insufficient funds.