Internal Control - receipt of checks
A business unit receives a relatively large volume of checks each day (around a thousand checks a day on average). In a recent audit, the auditors specified that checks need to be logged upon receipt. Because of the large volume involved, I'm wondering if anyone out there has experience with or is aware of an acceptable alternative (in regard to internal control) to literally manually logging each and every check every day in some sort of a check register. Doing it that way would be very labor intensive and time consuming. Thanks.
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what about creating a database in Access to do this ? or, are you looking for a "off the shelve" to do this for you ?
You can probably also use a check reader/scanner to populate most of the info on the screen for you and just "double check" everything before you post it.
Good luck !
Good luck !
> a relatively large volume of checks each day (around a thousand checks a day on average)
How are they processing such a large number of checks now? If they already have a check scanner, software should be available for it that will log each scanned check into a database, at the very least with the MICR information, and possibly with other info from OCR/ICR/IWR (and, of course, the image). If they don't have a check scanner, I would get one, put it right in the mail room where the checks come in and scan them immediately (the auditors should like that). There are plenty of check scanners on the market, but I can't make recommendations based on recent experience — all of my work on this was on equipment that is now considered obsolete, but I would look at name-brand manufacturers, like Burroughs and Digital Check. Regards, Joe
How are they processing such a large number of checks now? If they already have a check scanner, software should be available for it that will log each scanned check into a database, at the very least with the MICR information, and possibly with other info from OCR/ICR/IWR (and, of course, the image). If they don't have a check scanner, I would get one, put it right in the mail room where the checks come in and scan them immediately (the auditors should like that). There are plenty of check scanners on the market, but I can't make recommendations based on recent experience — all of my work on this was on equipment that is now considered obsolete, but I would look at name-brand manufacturers, like Burroughs and Digital Check. Regards, Joe
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