Void Check

USA Discussion in 'General Accountancy Discussion' started by $Bill, Dec 5, 2018 at 1:21 PM.

  1. $Bill

    $Bill

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    Recently an accountant told the office worker to void a check by ripping out the signature of the person who signed the check. I vaguely recall that only stamping or writing VOID on the check will do. What is the GAAP standard? What happens if fraud or falsifying the signature becomes an issue? I need the standard. Her boss will not accept anything else.
     
    $Bill, Dec 5, 2018 at 1:21 PM
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  2. $Bill

    kirby VIP Member

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    GAAP does not cover this. Banking practice covers this. Voided or signature ripped out - both will not be accepted for deposit by bank. Seems to me a minor issue here. Are there tons of checks to void and the office worker is getting paper cuts?
     
    Last edited: Dec 5, 2018 at 3:48 PM
    kirby, Dec 5, 2018 at 2:17 PM
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