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Key Risk and Quality Control Points in Cheque Run

本文发表在 rolia.net 枫下论坛Based on the cheque run process yuanfei has wonderfully shared, I wish to highlight the key risks and contol points.

When you have explained clearly how the process runs, it will be an good add-on if you can also explain to the interviewer what you think are the key risks and control points.

To streamline the process, it is important to

1 At beginning of fiscal year, determine and communicate a clear cheque run schedul at annual planning.
2. In between cheque runs, communicate to user department a deadline/cut off date to inform AP of cheque payment request and submit invoices to AP.
3. Clarify policy on cheque run on demand (i.e ad-hoc requests in addition to reguar runs).

To manage the risks in this important AP sub-process, key consideration can be:

1. To produce accurate and complete cheque register, ensure vendor record is accurate, complete, updated, and any changes or additions to vendor records are properly authorized.

2. To ensure cheque register information accurately flows to payment batch, document review and sign off of cheque register. After payment batch is created, ensure reconcilation between register and payment batch, is either reviewed manually or supported by system testing at initial system implementation and regular system admin.

3. Restricted access to the pinter designated for cheque run.

4. Controlled access to blank and printed cheques; safe depoist if cheques need to stay in compnay overnight.

5. Proper back up to supprot G/L entry. Post-posting supervisory review to reconcile cheque run total to G/L amount.

6. Ensure key controls reports (cheque register and posting journal) are reviewed on a timely basis and discrepancies are followed up with documted evidence.更多精彩文章及讨论,请光临枫下论坛 rolia.net
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Replies, comments and Discussions:

  • 俺做AP多年,每周都有cheque run,用Accpac, 试着大概讲一下过程吧
    本文发表在 rolia.net 枫下论坛cheque run就是系统自动生成的一次打印很多支票的过程,先要条件是vendor invoices 已经输入并posted 啦,就等着打印支票付账了,我们的步骤是:

    1)如果有特殊需要,先在control payment里force或hold一些invoices.
    2)create payment batch, 选一些条件,比如美元还是加元,by vendor# or vendor group( 员工还是landlord),cheque date, due date, 等等,然后register.
    3) cheque register出来后,审查无误后就create payment batch,如果不行就cancel重来
    4)去payment batch transaction list里找到刚刚生成的batch,审查无误后就可以打印支票了
    5)print designation设为printer(很重要)
    6)open PrintBoss (控制支票打印机的一种程序吧)
    7)去cheque printer检查支票打印纸是否放对了,加元或美元,纸的摆放位置等
    8)print/post payment batch, 等到"are all cheques printed successfully?"先不要yes.
    9)检查打印出来的支票,bank ,currency, company name/logo 等等,如果无误再yes.
    10)G/L batch created automaticlly, post G/L batch.
    11)match all the cheques with the backups

    中间有些report需要hard copy,就要print出来,各个公司要求不一样吧,我们公司保留cheque register & posting journal更多精彩文章及讨论,请光临枫下论坛 rolia.net
    • Key Risk and Quality Control Points in Cheque Run
      • Great comments!
    • Thanks, very useful. Marked. +1
    • Thank you very much!
      • 这么老的帖子都给翻出来啦,服了。