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Check Deposits

Standard Operating Procedure – Deposits

This SOP is intended to perform Check Deposits and is consistent with FDC standards. It will document progressive steps required in sequence that are to be followed.

To provide instructions on how to create Check Deposits from Customers.

Below are the steps required to perform Deposits from Customers:

1) Receive Check in the mail from customer for an open invoice

2) Pull the Invoices from the A/R Black Boxes next to filing cabinets in billing office

3) Match the Invoices to the Check and attach the stub to Accounts Payable invoice copy

4) Use your Self Inking Paid Stamp and a Red Pen
• Stamp the invoices
• Write the check number and Date where specified
• Circle the total amount on the Invoice
• If there are multiple invoices paid from (1) Check make an asterisk * next to Paid on the Invoice
• Use the FDC Bank Self Inking “Deposit Only” Stamp
• Stamp the back of each check

5) Use a Blank Deposit Slip and write the name of the customer on the left line of the deposit slip and the amount of the check in the right column of the deposit slip

6) Calculate the Total and write it on a sticky note
• Stick it to the top of the Deposit Slip
• Organize the checks and invoices how they were entered on the deposit slip and use a paperclip to attach the Deposit Slip, Checks and Accounts Payable Invoices

7) The second copy of the Invoice goes on top of the filing cabinet to be scanned

8) If total amount of deposits is over $5,000, can be deposited that day. If under $5,000, verify with Accounts Payable if they want processed or if they want to hold until more checks are received. If being held, place pack of checks and invoices in safe and wait for next day’s mail run. If ready for processing, give to accounts payable to process. (If accounts receivable has been assigned the duty of online deposit, follow steps in “Online Deposits” instructions.)

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