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SOP For Cheque Signing Procedure in Hotels and Resorts:

SOP Number: Finance and Accounting – 33

Department: Accounts Payable

Time to Train: 28 Minutes

Purpose of Check Signing Procedure:

To create a check signature control to protect the integrity of all cash disbursements. Check signing is a very important exercise and the signatory will be held accountable. It will be the responsibility of the signing parties to verify the accuracy of each check.

Review the Accounts Payable Policy and apply each point as relates to each check. Verify that all back-up is attached to the check and that the amounts on the back-up are the same as the amounts on the check.

Check Signing Procedure SOP Procedures:

1. At a full-service property, all checks must have two signatures, General Manager and one other property designated as determined by the VP of Operations and Corporate Controller. This will be specific to each property.

2. At a limited service property or an independent property, checks shall be signed by the Regional Controller, and on a weekly basis, General Manager will approve the check register.

3. Bank resolutions will include the authorized property signatures and two officers.

4. Copies of the bank resolutions must be retained on the property with an additional copy to the corporate office. The checks are to be maintained in the accounting office in a locked cabinet and issued numerically

Training Summary Questions:

Q1. How many signatures are needed on checks?

Q2. What is the General Manager's role in a limited service property or an independent property?

Q3. How many officers will be required for a resolution to be effective?

Q4. What are the requirements for retaining copies of bank resolutions?