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> cheque clearance related msg
cheque clearance related msg
Before Processing the Cheque
Verify the cheque is properly filled out.
Check the date on the cheque for validity.
Confirm the signature matches the account holder's signature.
Ensure the cheque is within the allowable amount limit.
During Processing
Input the cheque details into the financial system.
Check for sufficient funds in the payer's account.
Validate the cheque number for uniqueness and accuracy.
Review the payee details for correctness.
Post-Processing Actions
Notify the payee of successful clearance.
Record the transaction details for auditing purposes.
Update the account balance accordingly.
Store the cheque image electronically, if applicable.
Handling Issues
If the cheque bounces, notify the payee immediately.
Investigate the reason for the bounce (e.g., insufficient funds, account closed).
Follow up with the payer to resolve the issue.
Document any disputes or issues for future reference.
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