HOLD/RELEASE CHECKS

Overview		The "Hold/Release" feature in 'Accounts Payable' extends the concept of outstanding checks to include released (sent to the vendor) vs. checks on hold pending release. The additional status type of “held” allows 'Accounts Payable' personnel to manage checks that may have printed and posted but not yet mailed to vendors. 'General Ledger' is not affected as the cash account is relieved immediately upon posting of the checks regardless of whether checks are created/placed on hold or released.
Reporting		The reports that list checks and indicate their status will also indicate if a check is on hold or if it has been released. In the 'Monthly Check' register, the 'Outstanding Check' column lists all outstanding checks. If a check is held, it is in this Outstanding column with an ‘H’ next to it. In the 'Check Reconciliation Report', there are separate columns for 'Held' and 'Outstanding Checks'.
File Maintenance- Parameters		For customers using the "Hold/Release" feature and NOT doing check reconciliation: The “Months of History Stored” field under “Company Information” from the main menu will determine how long outstanding checks are to be kept on file, regardless of their status (held, released, void, or canceled). Make sure the number of months entered in this field is large enough to accommodate your time period for “holding” checks. The default number of “Months of History Stored” is 36 months.
Creating Checks As Held In Computer Checks/EFT		In the "Create checks as held?" field in the 'Checks/EFT Creation' screen of the 'Checks/EFT Creation' process, enter 'Y' if the system is to create all checks in this run with a held status. The default for this field is ‘N’. Checks that are created as held show in the "Hold Column" of the 'Monthly Check/EFT Register Report' and show in the "Outstanding Column" in the 'Monthly Check/EFT Reconciliation Report' with an 'H' printed next to them to signify their held status.
Placing Demand/Hand Checks On Hold		Enter, print, and post demand/hand checks as usual. From 'Accounts Payable' - ' Checks/EFT' submenu, select 'Hold/Release Checks'. The following screen appears:
		Enter 'H' in the "Hold/Release Checks?" field. Enter the cash account number of the check to be held in the "Cash Account" field if it is different than the default appearing on the screen. Press <F2> until you reach the following screen
	Enter the check number of the check to be held in the "Check No" field. If there is a check suffix associated with this check you will need to enter this in the “.Suf” field. Within the "Check No" field Ctrl-L will list all checks that have been released. From the list of released checks select the one that you would like to place on hold and press <F2>. The vendor number, vendor name, date and amount of the check appear. Press <F2> again to save this entry.
	Repeat for as many demand/hand checks that are to be placed on hold. After pressing <F2> to save, press <ESC> when finished
	To hold a range of checks, within the “Check No” field, press Ctrl-R. The following screen will appear.
	Within the “From Check No.” and “To Check No.” fields, enter the starting check number and ending check number of the range to be placed on hold. Press the <F2> key and this will display the last check number in the range that was just placed on hold. Press <Esc> to exit. The monthly check register and check reconciliation report will display a current list of checks that have been placed on hold.

Releasing Checks	Checks must be released in order to be considered outstanding in the 'Monthly Check/EFT Register'. Checks cannot be canceled unless they have been released. From the 'Accounts Payable' - ' Checks/EFT' submenu, select 'Hold/Release Checks'.
	Enter 'R' in the "Hold/Release Checks?" field
	Enter the cash account number of the checks to be released in the "Cash Account" field if it is different than the default appearing on the screen. Press <F2>. If all of the information is correct, press <F2> again. The following screen will appear.
	Enter the number of the check to be released in the "Check No" field. Pressing Ctrl-L in this field, will list all held checks for this account. After selecting a check number press <F2>. The vendor number, vendor name, date, and amount of the check will appear. Press <F2> again.
	Repeat for as many checks that are to be released. After pressing <F2> to save press <ESC> when finished.
	To release a range of checks, within the “Check No” field, press Ctrl-R. The following screen will appear.
	Within the “From Check No.” and “To Check No.” fields, enter the starting check number and ending check number of the range to be released. Press the <F2> key and this will display the last check number in the range that was just released. Press <Esc> to exit. The monthly check register and check reconciliation report will display a current list of checks that have a status of outstanding.