Journal voucher: recording adjustments your auditor can follow
A journal voucher documents a manual accounting entry — what was posted, why, and who approved it. What it must contain, when you need one, and the controls that stop errors.
The bank flags items that do not match your issue file. If nobody decides by the cut-off, the default in your agreement decides for you.
Positive pay is a bank service in which a business sends its bank a file of the cheques it has issued — number, amount, date, and usually payee — and the bank compares every item presented against that list. Items that do not match are held as exceptions for the business to review and either pay or return. It is the standard defence against cheque fraud and altered items, and most banks offer it as a paid service.
What determines whether it actually works is not the matching. It is the exception review. Exceptions appear on a short window, typically the same business day with a cut-off in the morning or early afternoon, and every service agreement specifies what happens if nobody responds — pay by default or return by default. A business that has enrolled and never assigned the review has automated the detection and left the decision to a default it may not have read.
Name a reviewer and a backup, and check the default in the service agreement. Exception windows do not pause for holidays or annual leave, and the cost of an unreviewed window is the fraud the service was bought to prevent.
Beyond the operational benefit, enrolment matters legally. Banking agreements commonly shift responsibility for fraudulent items to a customer who was offered positive pay and declined it, or who enrolled and failed to review exceptions. That is worth reading before treating the monthly fee as optional: the question is not only whether the service catches fraud but who pays when it is not used.
The file comes from the cheque register, so the control is only as good as the register. Ettex Books holds the payments ledger the issue file is generated from, Ettex Sheets tracks exceptions with the decision and who made it, and the electronic side of the same problem is covered in ach authorization form.
Being direct: this is bookkeeping and records, not a banking service. Positive pay is bought from your bank; what this covers is the discipline around it, which is where it usually fails.
A bank service comparing cheques presented against a file of cheques you issued, holding non-matching items as exceptions for you to pay or return.
A version that also verifies the payee name, catching altered payees. It usually costs more and is the version that matters.
The default in your service agreement applies — pay or return. Check which, and assign a reviewer and a backup.
It can. Banking agreements often shift responsibility for fraudulent items to customers who were offered the service and declined or failed to use it.
A journal voucher documents a manual accounting entry — what was posted, why, and who approved it. What it must contain, when you need one, and the controls that stop errors.
Consolidated accounts present a group as one entity. Who must prepare them, what gets eliminated, and the reconciliations that decide how long it takes.
Fund accounting tracks money by the restrictions attached to it. Who needs it, how restricted funds work, and the reporting it makes possible.