I would not put much faith in requiring two signatures. It is unlikely that the bank is actually paying any attention to this requirement. I learned this from a former bank employee who was on the board of a nonprofit I work with. In other words it is an internal control only.
Dale On Mon, Jul 27, 2020, 3:01 PM Adrien Monteleone < [email protected]> wrote: > All but one business or non-profit I've worked for or with had a > two-person signature rule. (over a certain small amount) One still > writes paper checks to keep that standard. (not sure myself how that is > handled electronically) > > For the one business that allowed only one signature for any amount, it > was a mom & pop business, in a small town, with a small town bank, with > signature images on file and all of the tellers personally know the > business owners. (who are the only ones approved to sign checks) They > did have a rule with the bank that if over a certain high amount, the > bank had to speak to the other owner to confirm the check. *All* checks > had to be made with an 'imprinter' and could not have their amounts hand > written. > > Regards, > Adrien > > On 7/26/20 10:39 AM, John Ralls wrote: > > > > > Incidentally, the textbook also says that checks should ideally require > two signatures. I don't know how to impose that control over electronic > transfers but the local newspaper reports two or three cases of > embezzlement a year where it's obvious that a two-person control would have > prevented the crime. > > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
