Re: Forms for AP checks

Positive Pay is the thing to do in times such as these.
Our bank strongly encouraged us to comply

Mike Bennett - Information Services Manager
Kimray Inc.
52 NW 42nd Street
Oklahoma City, OK 73118
405-525-6601
www.kimray.com
----- Original Message ----- 
From: "Gregory A. Garner" <garnerg@xxxxxxxxxxxxxx>
To: "MAPICS ERP System Discussion" <mapics-l@xxxxxxxxxxxx>
Sent: Thursday, September 18, 2003 8:51 AM
Subject: RE: Forms for AP checks


> I agree with the positive pay validation process.  The concern for fraud
is
> more likely from an outside strike than an internal issue.  I also see
> direct deposit of AP and Payroll checks as a way around fraud.  Several of
> my clients are using direct deposit of AP payments.
>
> Gregory A. Garner
> Garner Data Systems, Inc.
> 4270 Grand Teton Parkway
> Suwanee, Georgia 30024
> Phone 770.845.9636   Fax 770.614.3496 - 800 254 3630
> e-mail: ggarner_gds@xxxxxxxxxxxxxx
> web:   http://ggarner_gds.home.mindspring.com
>
>
> -----Original Message-----
> From: mapics-l-bounces@xxxxxxxxxxxx
> [mailto:mapics-l-bounces@xxxxxxxxxxxx]On Behalf Of Konrad Underkofler
> Sent: Thursday, September 18, 2003 8:37 AM
> To: MAPICS ERP System Discussion
> Subject: RE: Forms for AP checks
>
>
> Dale,
>
> >After all...how many of you have had fraudulent checks cut against a
> company account?
>
> It is becoming a very popular sport. With copying machines, Adobe
> Photoshop, etc you to can get into the next big business. Electronic
> payments are likewise very vulnerable. The check matching feature that
> banks offer is becoming an essential part of doing business. The police
> here recently busted a ring of people making their living doing it full
> time!
>
> Regards
>
> Konrad
>
>
> -----Original Message-----
> From: Walker, Dale [mailto:DWalker@xxxxxxxxxxxxxxxxxxxxx]
> Sent: Wednesday, September 17, 2003 5:14 PM
> To: MAPICS ERP System Discussion
> Subject: RE: Forms for AP checks
>
>
> Good point Michael.
>
> In my opinion however; it comes down to basic ROI analysis, and not risk
> minimization.  After all...how many of you have had fraudulent checks
> cut against a company account?  Maybe I am being naive but I haven't
> heard of this occurring in my 20+ years of business. I am sure it has
> happened somewhere but it didn't play a part in our justification for an
> automated forms solution.
>
> Also, we use the Acom (EZ Print) solution to eliminate most all of our
> preprinted forms.
>
> Dale Walker
> VP, MIS
> Gross-Given Mfg. Co.
> Automatic Products International
> www.automaticproducts.com
>
>
> -----Original Message-----
> From: Michael Laiter [mailto:mlaiter@xxxxxxxxxxxxxxxxxxxx]
> Sent: Wednesday, September 17, 2003 3:35 PM
> To: 'mapics-l@xxxxxxxxxxxx'
> Subject: Re: Forms for AP checks
>
> Hi Bryan,
>
> There are different paper options when it comes to printing checks. I
> think individuals need to assess the risk of fraudulent checks with each
> option.
>
> The riskiest is purchasing pre-printed check stock with the lines /
> boxes / headings / logos / MICR line already printed on them. This check
> stock needs to be stored in a very secure location, because someone got
> their hands on a few sheets of this stock, they could create a
> fraudulent check on an old fashion typewriter or send it through a
> standard printer.
>
> The opposite end of the spectrum is using a forms package and a secure
> MICR printer to generate your checks. In this scenario, you could
> purchase blank check stock. The forms package (in conjunction with a
> secure MICR
> printer)
> will generate the checks. This will include the
> lines/headings/shading/MICR line/etc.
>
> The nice thing about this option is that you dramatically reduce the
> risk of fraudulent checks. With a secure MICR printer, you can limit the
> users that have the authority to print checks. You can even securely
> turn off the feature that enables MICR lines to be printed.
>
> Michael A. Laiter
> Manager, Professional Services
> Quadrant Software
> Phone: (800) 258-3399 x495
> Fax: (508) 828-6242
> Email: mlaiter@xxxxxxxxxxxxxxxxxxxx
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