[GNC] BotanyBayGardens nonprofit example, and why GnuCash does not suffice

[Adrien Monteleone]

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.