I lost some checks, what should I do?

Question

I receive the checks from the mail, and after I enter them in the system I stamp them with our deposit stamp and then I take it with me after work and drop it of at the bank. Last week I lost them some how on the way there. I told my boss but they don't really show any concerns. But I do. I had made one mistake since I started and this really makes me feel bad.

Answer 1

The advantage of stamping those checks "For Deposit Only" is that they cannot be cashed; they can only be deposited. So if found it is hard for someone to cash them. That's why your bosses aren't too worried about it. They also probably believe that they can catch the companies in the next billing cycle. Most business checks are stamped “Valid for only 90 days.” This helps reduce the chance of fraud or an accounting error. That’s why a lot of companies still like to pay with checks.

Calling your company’s bank won't do any good. You should call the companies that wrote the checks and inform them that their checks were lost in processing and they will be re-billed on the next billing cycle. Only if they ask you how they were lost do you need to tell them that you did it. Make sure that you tell them they were stamped Deposit Only.

Banks offer a vinyl pouch for business customers. You keep the checks in the pouch along with any money. You can then deposit the pouch in the night deposit drawer, along with the deposit slip and pick up the bag later. This will reduce your chance of losing anything. Since the bank keeps the pouch it shouldn't cost a lot to get issued a pouch. That will greatly help your peace of mind.

This is how my father handled the checks and cash when we owned a Flower Store. I was in high school at the time and helped him with the deposits. Since then I always mark my checks with deposit only, unless I plan on cashing them right away.

You made a mistake, but safeguards are in place to limit it. Chalk it up to experience and take measures, like using the pouch, to prevent it happening again. Oh, also since a stop order costs money most of the companies involved won't want to issue one, but their accountant will want to know what happened to the checks that were lost.

Answer 2

Look for them. Tear places apart. backtrack and Contact local authoritys they may have it in the lost and found or wherever you were. Contact the bank if you dropped the deposit it has to be somewhere you were. Recheck all thoes places.

Answer 3

Call the bank? What are they going to do? These are DEPOSIT checks, not their checks! She needs to call the companies that issued them the checks and have them void and reissue them.

Answer 4

call the bank

Answer 5

Smarten Up!

Answer 6

call bank

Answer 7

cancel all checks

Answer 8

Don't worry.