i would like to ask from lawyers...?

Question

as a cashier in a manufacturing firm, my duty is to receive collections and remittances thru cash and check payments. my concern is payments in checks paid to our company name therefore must be deposited to company's own bank account. can this be deposited to anybody's bank account but with officers signature as endorser?

there has been a change of company name, but still all check payments is under old name. what shall i do with the checks now since i cant deposit it to old bank account anymore?

can they file a case against me? the check payments under old name is in my possesion not deposited yet because i know in good faith does not belong to old account anymore and the officer handling the collections endorse the checks to me. If they deposit the checks to the new account can they be liable to it too? By the way, i discovered that they were able to deposit 2 checks to new account under the old company name. Why did they they not deposit the rest that are coming?

Answer 1

Normally the amount should be credited to the recipient "Pay" name - albeit the company or individual.

As an aside some form of alternative crediting may be in force, as prior agreed / approved by your company which automatically allows for either full or part alternative crediting of the total amount.

However, for your protection, I would, at all times follow the "pay" credit terms. In the event any such apportionment of the total funds is necessary, then I strongly suggest you have in your possesion any document that so dictates the apportionmemt.

It duly signed by the respective bank offical and/or all such apportionments are duly authorised / signed by him accordingly before you proceed with the transaction.

In accounting etc albeit in banks, finance houses and/or in your position, word of mouth, acting as directed by others, acting and complying in all good-faith with no such recourse to adequately protecting yourself in the event of internal audit, investigation or whatever, is of no protection to your name and/or reputation!

You being unfarely ruined for life and possibly at the direct set-up of others covering themselves; while for the wan't of a better expression, you take the rap!.

Answer 2

That amounts to theft. Checks to businesses should always be deposited to the company account. Payments by the business should always then be paid with company checks.