Stop Payment Request Form

First and foremost, the accounting system used should be updated. The case stated that the system was 30 years old and that prior accounting period transactions could not be locked down, which enabled internal control processes to be bypassed. Enhancing internal

Step #5 requires you to enter your order number from PP09. See the screenshot below. The order number that should have been entered is 1000000. Note the error message that results from leaving off a zero.

The next step is to look at all the canceled checks and see if anyone else is involved in the fraud. Also see if any checks were signed over to a different account.

Case 2: Narda Corporation agreed to sell all of its capital stock to Effie Corporation for three monthly payments of $200,000. After Effie made the first required payment, it ceased making other payments. The stock subscription agreement states that Effie, thus, forfeits its payments and is entitled to no other future consideration. How should Narda record the $200,000 forfeited payment?

I agree with you, when you state that the first red flag was the fact that the check was postdated. In their lines of business, there should have been policies in place that would have protected them from unnecessary losses. I personally feel that the following policies are necessary.

* Photocopies of fronts of two checks payable to Lisa (for $61.00 and 478.29) but the canceled checks were not able to be located or find evidence that it cleared IBC’s bank account. (508)

Case 2: Narda Corporation agreed to sell all of its capital stock to Effie Corporation for three monthly payments of $200,000. After Effie made the first required payment, it ceased making other payments. The stock subscription agreement states that Effie, thus, forfeits its payments and is entitled to no other future consideration. How should Narda record the $200,000 forfeited payment?

Step 2: Post from General Journal to General Ledger for all affected accounts on pages 7 to 13.

- The first step: you will need to set up your company in your accounting software system. Look for company tab. Then, you fill in your company name, your company address, ID number and etc.

Examine list of accounts previously written off and determine efficacy of follow-up procedures, tracing amounts into accounting records (S‑9).

When an account receivable is determined to be uncollectable it is no longer qualified as an asset and should be written off. A write off reduced the balance of the customers

Credit Card: Employees issued company credit card must submit receipts to the accounting department by the last day of each calendar month

If employee has an A/R (account receivable) on the GL, clear the balance using “the payment outside of system process”. GL check # could be recorded in the text section.

This entity established a relationship with BOKF since 2007. At this time, there is an intrader account only with no activiites noted for the last 10 years. There are no additional DDA accounts.

"as i mentioned, i joined the company three and a half months ago. one of my first tasks involved closing out the prior fiscal year and assisting the external auditors with the year-end audit. they were not bouncing them, but they were not funding the line of credit until the first quarter results were presented on friday next week. our company is a start up enterprise that has been operating at a net income for a while. just now, the bank stopped clearing checks drawn off the company account. interestingly, the bank immediately started funding the line late friday and, i understand based on phone calls with my clerk this morning, the bank is continuing to fund the line this morning. these bizaree entries make up almost half of our first quarter 's sales. of course, given that these are quarterly financial statements,