The account payable personnel should not have access to checks after they have been signed.
Requiring two signatures on a check would not prevent resubmission and double paying of vendor invoices after they have been paid.
A voucher is an internal accounting document that is usually created after the company has received an invoice from a vendor or service provider and has successfully matched the invoice to a purchase order. In other words, it is created after the company has determined that this invoice is genuine and should be paid. The voucher communicates the company's intent to make the payment to the vendor or service provider. Among other things, the voucher contains detailed information about the transaction, including the payee, the amount of the payment to be made, and a description of the transaction. Based on the authorization in the voucher, the check is then created to pay the invoice. The accounting system will show that a voucher has been created for the purchase order issued for that transaction and that it has been cancelled; and a second voucher cannot be created. So if a voucher is cancelled after the check has been written and signed, payment cannot be made a second time even if the vendor does submit a duplicate invoice, because there is no active voucher to authorize a second payment. Therefore, the voucher and all supporting documents should be cancelled by personnel in the treasurer's office at the time the check is signed.
Cancellation of vouchers should not take place until the check in payment of the invoice has been signed.
|
