Cash Disbursement 1.
Without first evaluating and The system should generate a list
then approving payment to those
suppliers, accounts payable clerks
can generate a one-time supplier
record. This creates a possibility of
fraudulent disbursement.
2. After a check is issued, the
accompanying documents in the
voucher package are not indicated
as "cancelled" or "paid." Payments
will be duplicated as a result of
this.
Checks are returned to accounts
payable, which are then mailed to
suppliers. The check may be
altered as a result of this
procedure.
4. The treasurer has the authority
to not only write checks and EFT
payments, but also to reconcile
and examine any anomalies in the
back statements.
of all one-time providers, which
should be reviewed on a regular
basis by management. The
purchasing department, not the
accounts payable clerks, are
responsible for creating new
supplier records.
When used to create a check or
EFT payment, the systems should
label the supporting document in
the voucher package as "PAID."
One of the personnel who should
mail the checks is the cashier or
the cashier's assistant.
The back account statement
should be reconciled by someone
other than the treasurer. Someone
who isn't a part of the cash receipt
and cash disbursement functions.
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