Check and Deposit Information in BK

BKUPCD serves as a "check register", displaying information relative to a check or deposit slip entry. Invoices related to a check, and cash receipts related to a deposit slip, are displayed on the lower portion of the page.

An open document in BK is given the status of IS (Issued) for clarity and reporting purposes. The status will update to CX after reconciliation.

The ability to add or update records in BKUPCD is available primarily for three purposes:

1. To enter check and deposit information during the system installation process.

2. To enter information from outside sources that have no means of providing electronic data.

3. To allow for minor adjustments such as noting 1099 information, changing an event date, or check status. Due to the audit concerns related to directly updating the database, access to this function must be carefully controlled through security settings.

Details

If a check written to a particular vendor references several invoices, more than one reference will be attached to the document. The check appears as a single record in BKUPCD, and the detail of each invoice can be viewed on the Details tab. Use the navigation controls at the bottom of the Details tab to browse through the invoices that have been paid with this check.

When a deposit is made, multiple cash receipts may be attached to the same deposit slip, i.e., payments for more than one invoice may be deposited at the same time. The deposit will appear as one record on the BKUPCD; the detail of each receipt can be viewed on the bottom portion of the page.

Status Dates

The fields on the Status Dates tab can be updated directly on the page, by using the stale dating (BKUTSD) utility, or by using the maintenance option (BKUPCA). Each field displays a drop-down calendar for selecting the date to be attached to the record.

The status dates are events in the life of the check. Events are different stages in the bank document's life cycle. When a bank document is processed, it is assigned an Issue Date (listed on the Issue Date field in the top section of BKUPCD). This is the only date that is required. As each event takes place, it can be assigned a date that tracks its progress toward cancellation/reconciliation. The final events (at which time the check is no longer an outstanding check) are Stop Date, Cancel Date (updated automatically by the reconciliation function, BKUPRC), Reverse Date (updated automatically when a check is reversed), and Escheatment Date.

Interim events could include Review Date, Stale Date, Hold Date, Mail Date, and Release Date. For example, when a check is printed, it is assigned an Issue Date. It can then be assigned a Review Date, representing the date the check is approved for payment. If a check is held (to be picked up by the payee), it can be assigned a Hold Date. If the check is mailed to the payee, it can be assigned a Mail Date and a Release Date. A check can also be assigned a Release Date when it has been picked up from hold by the payee.

If a payee does not cash a check, it can be stale-dated by a special utility (BKUTSD). This utility looks at when the check was printed, compares that to the current date and to the stale dating aging value defined for that Bank ID, and then assigns a Stale Date accordingly. After a designated period, which will be unique to each client site, a stale-dated check may be escheated (or forfeited) back to the issuing entity (or to another designated entity) at which time it is assigned an Escheatment Date.

A Stop Date or Reverse Date can be assigned as needed, and the Cancel Date will be assigned when reconciliation is completed. Each time a change is made to the record, the Last Update Date will reflect the date the change was made.