Types of Checks Created by CU*BASE (Including Void Procedures)

Helpful Resources

How to Place a Stop Pay on an ACH Distribution

Overview

There are three different types of credit union checks which can be issued through the CU*BASE system.

Teller/Member Checks

Miscellaneous CU Checks

Accounts Payable Checks (G/L "Quick" Checks)

Although similar, they are different when it comes to how they interface with the general ledger. Below is a summary of the characteristics of each check type, including tips on how to properly void each type.

Teller/Member Checks

Characteristics

J/E ID

TR

G/L Account #

739.00 (change fund)

Description

C/U CHECK

To Void a Teller/Member Check

If it is still the same day as the check was printed...

  1. Mark the check as Void using the Check Reconciliation feature (Tool #324: CU Check/Bank Reconciliation).

  2. If printed through teller posting, reverse the member's transaction using the Reverse Transaction/Adjust Teller Drawer feature (Tool #31: Reverse/Tran Adjust Drawer (Same Day) (Shortcut: revtlr)).
    OR
    If printed through phone or loan disbursement software, reverse the member's transaction using the Member Transaction Reversal feature (Tool #869: Transaction Reversal).

If it is the next day after the check was printed...

  1. Mark the check as Void using the Check Reconciliation feature (Tool #324: CU Check/Bank Reconciliation).

  2. Reverse the member's transaction using the Member Account Adjustment feature Tool #492: Member Account Adjustment (Full) (Shortcut: adjust). The offset G/L will be either the bank account or your corporate check reconciliation account (if your credit union has Auto Check Reconciliation).

If the member transaction was reversed the same day the check was printed, but the check is not voided until the next day, your change fund account (73900) will be off. After voiding the check you will also need to use the Create/Post Journal Entries feature (Tool #61: Create/Post Journal Entries (Shortcut glpost) to make a manual journal entry that reverses the check amount between the change fund and the bank or check reconciliation account.

 

Miscellaneous CU Checks

Characteristics

J/E ID

TR

G/L Account #

For credits, the bank GL

For debits, the expense GL

Description

CU CK

To Void a Miscellaneous CU Check

If it is still the same day as the check was printed...

  1. Mark the check as Void using the Check Reconciliation feature (Tool #324: CU Check/Bank Reconciliation).

If it is the next day after the check was printed...

  1. Mark the check as Void using the Check Reconciliation feature (Tool #324: CU Check/Bank Reconciliation).

  2. Use the Create/Post Journal Entries Tool #61: Create/Post Journal Entries (Shortcut glpost) to make a manual reversing G/L journal entry for both the expense and the bank or corporate check reconciliation account (if your credit union has Auto Check Reconciliation).

 

Accounts Payable Checks (G/L “Quick” Checks)

Characteristics

J/E ID

CD

G/L Account #

For credits, the bank GL
For debits, the expense GL

Description

Either vendor name or invoice description

To Void an Accounts Payable “Smart” Check

  1. Mark the check as Void using the Check Reconciliation feature (Tool #324: CU Check/Bank Reconciliation). Be sure to check the Generate Reversing A/P J/E flag to automatically generate a journal entry which reverses the debit and credit entries produced by the original check.

  2. Use the Create/Post Journal Entries feature (Tool #61: Create/Post Journal Entries (Shortcut glpost)) to post the journal entry created in the first step.
    OR
    If the Generate Reversing A/P J/E flag was not checked at the time the check is voided, a reversing entry must be created and posted manually.

  3. Use Work With AP Vendors (Tool #990: Work with Accounts Payable Vendors (Shortcut: achdist)) to update the transaction history for the vendor to which the check was written (use A/P Hist Maint (F5) from the main vendor maintenance screen).

 

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#ChecksTypes.htm