CASH MANAGEMENT
Stop Payment Procedures
(Revised - July 2006 )
Requests for stop payments, cancellations and reissues of checks will be submitted to Cash Management (attn Suzanne Reeves) by the following areas:
Accounts Payable
Student Services
Payroll
Areas of responsibility are outlined below:
|
|
Cash |
Accounts |
Student |
|
|
|
Management |
Payable |
Services |
Payroll |
|
|
|
|
|
|
|
Stop payment/Cancel form |
|
|
|
|
|
completed by: |
|
X |
X |
X |
|
|
|
|
|
|
|
Stop Payment/Cancellation |
|
|
|
|
|
in Bank of America |
X |
|
|
|
|
|
|
|
|
|
|
Banner Entry for AP and |
|
|
|
|
|
Student Services |
X |
|
|
|
|
|
|
|
|
|
|
Banner Entry for Payroll |
|
|
|
X |
|
|
|
|
|
|
|
Reissue for AP and |
|
|
|
|
|
Student Services |
|
X |
|
|
|
|
|
|
|
|
|
Reissue for Payroll |
|
|
|
X |
Accounts Payable, Student Services and Payroll, check Bank of America Direct to see if check is outstanding.
Accounts Payable, Student Services and Payroll, prepare FAU Stop Payment/ Cancel/ Reissue Request Form (see example attached).
- Fill out section 1. (and section 2. if requesting a check reissue) of the FAU Stop Payment/ Cancel/ Reissue Request Form.
- If you are in possession of the actual check to be voided, then you should request a cancellation rather than a stop payment.
- Attach email from requestor or Duplicate Check Request Form as backup to FAU Stop Payment/ Cancel/ Reissue Request Form. If these forms of backup are not available, be sure to write on the front of the form the person requesting the stop payment/cancel and date of last contact.
Accounts Payable, Student Services, and Payroll, give FAU Stop Payment Form to Suzanne Reeves (ext 7-0272). Susan Kohnken (ext 7-3109) will process stop payments in Suzanne’s absence. Both Suzanne and Susan are located at 10/161 fax # 7-1060.
CANCEL IN BANK OF AMERICA – (TO BE COMPLETED BY CASH MANAGEMENT)
If a voided check is attached to the form, cancel the check in Bank of America Direct. Otherwise, initiate a stop payment.
Cash Management (Suzanne Reeves or Susan Kohnken) will process the stop payment in Bank of America Direct as follows:
Log into Bank of America Direct. Click on Services. Click on the reconciliation inquiry screen and hit go.
When the screen pops up select your account number, bank status stays at all. Type in check number and enter. Print this screen to show that the check is outstanding and attach it to the Stop Payment Form. If the check has been paid, print a copy of the check front and back and attach it to the back of the form and return to whoever sent it to you.
To initiate the stop payment, roll back in Bank of America Direct to Services, click on Stop Pay and hit go.
1.select account number from drop down screen
2.type in check number
3.type in amount
4.type in payees name
5. type in check date and hit submit (you can do up to 10 on each batch)
When you are finished with your batch scroll to the bottom and click on mark action: release then execute
At the top of the page number of transactions released will appear. Print this screen and attach it to the back of the form.
After the Stop Payment is complete, sign the FAU Stop Payment/ Cancel/Reissue Request Form . The form then needs to go to an authorized signer for approval.
On the following day, the Stop Payment needs to be confirmed. In Bank of America Direct, under Services - click on reconciliation inquiry screen and hit go. Select your account number and type in check number and enter. It should be referenced as “stop placed”.
CANCEL IN BANNER
Account Payable Checks
Immediately after Stop Payment is entered in Bank of America, Cash Management will cancel the check in Banner.
In Banner go to FAACHKS. Type in check number and type in check fund. Hit next block and print the screen. Hit next block again and go into options. Click on process cancellation.
Student Refund Checks
Immediately after Stop Payment is entered in Bank of America, Cash Management will prepare a journal entry to post the check cancellation in Banner.
Payroll Checks
Immediately after Stop Payment is entered in Bank of America, Cash Management will give a copy of the Stop Payment Reissue Request to Payroll and they will complete the entry in Banner along with the subsequent reissue if necessary.
REISSUE CHECK (if requested)
If reissue is required, Cash Management will forward a copy to Accounts Payable (attention: Charlotte Vest) for A/P checks and Student Refund checks and Payroll for payroll checks.
Written confirmation of the Stop Payment will be sent by Bank of America and should be attached to the original paperwork.
