Author Question: All of the following regarding payroll checks is correct except (Read 47 times)

OSWALD · **on:** Apr 8, 2019

Question 1

A payroll clearing account is used to
◦ check the accuracy of payroll costs.
◦ speed up payroll transaction processing.
◦ reduce the transaction costs associated with payroll transaction processing.
◦ eliminate the need to manually record payroll transactions.

Question 2

All of the following regarding payroll checks is correct except
◦ access to payroll checks should be restricted.
◦ payroll checks should be sequentially pre-numbered.
◦ payroll checks should be drawn on the organization's regular bank account(s).
◦ the cashier should sign payroll checks.

enass · **Reply #1 on:** Apr 8, 2019

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