Lost Checks - No Payee - Best Practice

[Milton Stern]

As you suggested, I was considering not recording the checks at all.
But, I thought that the registers would be an good way of tracking if the
missing checks are ever used fraudulently?

On Mon, Jun 1, 2015 at 8:11 PM, Buddha Buck <blaisepascal at gmail.com> wrote:

> In that case, I would not record them in GnuCash at all. There are no
> transactions involving them.
>
> On Mon, Jun 1, 2015 at 7:48 PM Milton Stern <drmoshe5 at gmail.com> wrote:
>
>> My apologies for not being clear.
>>
>> A box of blank checks were ordered from a bank.
>>
>> Box of check was never received.
>>
>> Checks have no payee and no amount.
>>
>> On Mon, Jun 1, 2015 at 7:18 PM, Michael Hendry <hendry.michael at gmail.com>
>> wrote:
>>
>> >
>> > > On 1 Jun 2015, at 23:50, Milton Stern <drmoshe5 at gmail.com> wrote:
>> > >
>> > > Ordered Checks lost in transit from Bank to Bank Account Holder.
>> > >
>> > > Anyone have a good methodologies for documenting these checks (ie
>> > > "Transfer" field, documentation of lost checks)
>> >
>> > I’m not sure what you mean by “Ordered Checks”, but will assume that you
>> > didn’t issue them yourself, but asked the bank to print them for you,
>> and
>> > to send them to the respective payees (or their banks).
>> >
>> > The usual rule for a check which you’ve issued but which has never been
>> > cashed is to record the issue of the check in the normal way, and then
>> to
>> > record a reversing transaction for the date on which you decide that the
>> > check has been lost or destroyed.
>> >
>> > This way, it’s quite clear what has happened. (Presumably the bank will
>> > have recorded corresponding transactions?).
>> >
>> > >
>> > > Transfer field will not accept blank entry. Transfer to same account
>> > > produces 2 entries -> messy.
>> >
>> > But essential to keep a clear record, in my view.
>> >
>> > > Should the "Orphan" Account be used?
>> >
>> > No.
>> >
>> > > Should it be set to "Void" after completion?
>> >
>> > I’d be inclined to leave both transactions in place.
>> >
>> > >
>> > > Is there a way to enter a range of check numbers all at once?
>> >
>> > No, but once you’ve entered the first check’s details, you can use the +
>> > key to increment the check numbers as you work your way through the
>> list of
>> > checks.
>> >
>> > Hope this helps.
>> >
>> > Michael
>> > (NOT AN ACCOUNTANT)
>> >
>> > >
>> > > Suggestions appreciated.
>> > >
>> > > Moshe
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