8.2.02 Lost Checks and Check Cancellations

1.

Departments discovering that a check to a vendor has been lost must notify the Accounts Payable Manager in the UAMS Disbursement Services Department immediately.

2.

Following notification, the Accounts Payable Manager requests that the Treasurer’s Office place a stop payment order.

3.

The Treasurer’s Office verifies that the check has not cleared the bank.

4.

The Treasurer’s Office will contact the bank and request a stop pay order.

5.

The Treasurer’s Office will notify the Accounts Payable Manager once the stop pay order has been requested.

6.

After being notified that a stop pay order is in place, the Accounts Payable Manager will cancel the check in SAP, which will cause it to be reissued.

PROCEDURE (CHECK CANCELLATIONS)

Departments receiving an issued check (or warrant) that requires cancellation must send the check to the Accounts Payable Manager at Slot 545. Attached to the check should be a brief statement explaining why the check needs to be canceled. Please include a contact name and phone number in case of questions.

SECTION:	FINANCE DEPARTMENT
AREA:	ACCOUNTS PAYABLE
SUBJECT:	LOST CHECKS AND CHECK CANCELLATIONS
PURPOSE The purpose of this policy is to notify departments within the University of Arkansas for Medical Sciences (UAMS) of the procedures to be followed in requesting the reissue of a lost check or to request the cancellation of an issued check.


1.		Departments discovering that a check to a vendor has been lost must notify the Accounts Payable Manager in the UAMS Disbursement Services Department immediately.
2.		Following notification, the Accounts Payable Manager requests that the Treasurer’s Office place a stop payment order.
3.		The Treasurer’s Office verifies that the check has not cleared the bank.
4.		The Treasurer’s Office will contact the bank and request a stop pay order.
5.		The Treasurer’s Office will notify the Accounts Payable Manager once the stop pay order has been requested.
6.		After being notified that a stop pay order is in place, the Accounts Payable Manager will cancel the check in SAP, which will cause it to be reissued.

PROCEDURE (CHECK CANCELLATIONS)
Departments receiving an issued check (or warrant) that requires cancellation must send the check to the Accounts Payable Manager at Slot 545. Attached to the check should be a brief statement explaining why the check needs to be canceled. Please include a contact name and phone number in case of questions.