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

[Michael or Penny Novack]

On 7/28/2020 10:23 PM, Dale Alspach wrote:
> I am not confused. Here is a link to a CPA's site explaining the issue
> http://www.otcpas.com/advisor-blog/dual-signatures/#:~:text=By%20requiring%20two%20signatures%2C%20the,checks%20to%20a%20fictitious%20company.
> Dale

That depends on the bank. What that CPA is saying is that just because 
the organization decrees two signatures required does not make it so. It 
may well be the case that many banks will not allow that condition to be 
specified for accounts. But this is not true for all banks. I was assuming:

a) The bank allows this specification (but might in practice be lax 
about actually checking)

b) That an organizations whose rule was two signatures would use a bank 
that allows the specification.

He appears to be addressing the situation "the organization has this 
rule but is using a bank that does not allow accounts to be specified 
that way. Advising "still keep the rule".  I was not considering this 
situation, one where the organization had the rule but continued to use 
a bank that would not support it.

Michael D Novack