Question

A paycheck was lost or stolen. What is the correct procedure for handling this situation?

a. Reprint and reissue the check with the next check number; create and void a check
b. Edit the pay period in the Review Paycheck window; add a memo to the check register
c. Correct on the next payroll
d. Issue an unscheduled payroll check or correct on the next payroll

Answer 1

The correct procedure for a lost or stolen paycheck is to stop payment on the original check and issue a new unscheduled payroll check or adjust the next payroll.

Step-by-step explanation:

If a paycheck was lost or stolen, the correct procedure for handling this situation is to issue an unscheduled payroll check or correct on the next payroll. This involves stopping payment on the original check and then reissuing a new check. It is important to act quickly to prevent any unauthorized cashing of the original check. The company's accounts and payroll system should also be updated to reflect this change. It is always recommended to maintain a record of the incident for reference and to ensure proper bookkeeping.