ACPE Manuals

Cash Disbursements

ACPE generates vendor disbursements weekly by check, ACH, or corporate credit card. Vendor disbursements by check or by ACH shall be prepared by persons independent of those who initiate or approve the expenditures, as well as those who are authorized to sign checks. Vendor disbursements by corporate credit card are discussed below.

All vendor and travel expense disbursements by check or ACH shall be produced in accordance with the following guidelines:

  1. Expenditures must be supported in conformity with accounts payable, travel expense reimbursement policies described in the manual.
  2. Generally, all vendors shall be paid within 30 days of submitting a proper invoice upon delivery of the goods or services.
  3. Total cash requirements associated with check runs are monitored in conjunction with available cash prior to the release of checks.
  4. All supporting documentation is attached to the corresponding check prior to forwarding the entire package to an authorized check signer.
  5. Checks shall be used in numerical order and unused checks are stored in a locked cabinet accessible only by the accounting staff and Business Manager.
  6. Checks shall never be signed prior to being prepared.
  7. Upon preparation of a check, vendor invoices and other supporting documents will be canceled.
  8. Signed checks are returned to the Accounting Assistant for mailing.

Check signers should examine all original supporting documentation to ensure that each item has been properly checked prior to signing a check. Checks should not be signed if supporting documentation appears to be missing or there are any questions about a disbursement.

Checks in the amount of $5,000 or greater require two signatures.

The following rules govern the selection of individuals to sign checks:

  1. Individuals who prepare checks cannot sign checks.
  2. Individuals who reconcile bank statements cannot sign checks.
  3. The ACPE Board of Directors grants check-signing authority to the following positions:
    1. Executive Director
    2. Associate Executive Director
    3. Business Manager
    4. Treasurer
    5. Board Chair
    6. Former Board Chair

ACPE uses the Positive Pay security feature to authorize Wells Fargo to honor ACPE checks. At the time of each check run, the Accounting Assistant enters or uploads the required data into the bank’s Positive Pay interface. The Add Check report for that check run is submitted to the check signer with the checks.

Voided checks are marked “VOID” and retained in a file. Voided checks not physically present are voided in QuickBooks in the manner that retains the check record and allows for a brief explanation to be kept with the record.