A: There are several resources on the site that can help you develop a set of policies for a facsimile signature.
The Check Disbursement Policy is located in the AP Tools Suite>AP Tools>AP Policy Manual Templates>Check Disbursement Policy. It has elements of policies when using a facsimile signature on checks. Click here to go directly to the policy: http://www.theaccountspayablenetwork.com/html/pafiledb3/pafiledb.php?action=file&id=46&category=8.
Check Log, located in the AP Tools Suite>AP Tools>AP Accounting Forms and Checklist Templates, provides an example of a log to track the numerical sequence of the checks and the facsimile signature usage. Click here to go directly to the log: http://www.theaccountspayablenetwork.com/html/pafiledb3/pafiledb.php?action=file&id=13&category=5.
General procedural steps to consider in your process:
- Track the checks issued for printing in the Check Log. Have a sign out process when distributing checks for printing and checked back in when they are returned.
- Use a facsimile signature system that requires two people to operate. This means it requires two passwords entered by two different people to activate the signature machine. This is an internal control procedure that helps eliminate control of the signature with only one person.
- Track the number of imprinted signatures documented by the signature machine and note the number in the Check Log. Most signature machines have this capability.
- Keep track of any voided checks and note the voids in the Check Log.
- Once the checks are printed then provide the Check Log with the Checks and back up to an authorized person to review the disbursements. Checks over a certain dollar amount can require a second manual signature.
- The voided checks should be included.
- The review should include verifying that the number of checks in the check run equals the number of facsimile impressions or it should be reconciled if there is a difference.
- The Check Log can be used to document this procedure.
- Any discrepancies in the check sequence or facsimile sequence should be investigated and resolved.