Can I deposit a refund check from a vendor paid with State funds into the local bank?

Yes. The journal entry depositing the refund check is sent to General Accounting. General Accounting changes the department cost center to the Refund to State Clearing Cost Center and sends a copy of the entry to State Accounting. State Accounting issues a local voucher using the Refund to State Clearing Cost Center and deposits the check from the local bank to the original department cost center.

Created: Jan 29, 2004 - 4:34am Updated: Aug 07, 2009 - 5:10am Author: Web Technologies Article: 942
Was this article helpful?

Thank you for your feedback. Click Here to submit again.