Best practices for paying employees by check include which of the following? (You may select more than one answer. )
A)Maintenance of a separate checking account for payroll purposes.
B)Keeping a single check register for the firm's checking accounts.
C)Logging the number,amount,and purpose of each check used.
D)Establishing an unclaimed property account for uncashed checks.

Question

Quizplus · Accepted Answer

A separate checking account for payroll purposes ensures that funds for payroll are not mixed up with other expenses. Logging the number, amount, and purpose of each check used helps with record-keeping and serves as a reference in case there are disputes. Establishing an unclaimed property account for uncashed checks ensures that funds are not lost or unaccounted for. Keeping a single check register for the firm's checking accounts may result in confusion and errors, therefore it is not a best practice for paying employees by check.

Best Practices for Paying Employees by Check Include Which of the Following