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Undeliverable AP checks
December 5, 2022
Q. Are negotiable AP checks returned to a company considered outstanding? Should these checks be stopped on return and shown on the AP aging until either reissued or escheated? Please note, most of our returned checks are distributed from A/R deposits (passed through AP for payment processing).Currently checks are held in AP, re-mailed if possible or shredded after a designated period.
A.
(Answered by the IOFM Advisory Panel)
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We try to obtain email addresses from vendors (ongoing since…
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