- Membership
- Certification
- Events
- Community
- About
- Help
Zero dollar checks in positive pay file
October 9, 2024
Q. If a ERP system has the ability to create zero dollar checks, is there any reason why it should not be excluded from the positive pay file? Some banks do not accept zero dollar amounts on a file. I was just looking for a valid reason to include them. Expanded question:The Ask the Expert Team, In conducting a bit of research, found that on occasion, a mandatory zero-dollar check payment may be requested in order to settle or close an account. Has this ever occurred at your organization,…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
