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How will the board be notified about checks that are returned due to insufficient funds or similar issues?

April 26, 2017checks funds insufficient RETURNED similar

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How will the board be notified about checks that are returned due to insufficient funds or similar issues?

1 Answer

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Our systems are notified about any checks that were unable to be deposited due to insufficient funds or related issues. The owner’s account ledger is automatically updated to reflect the unsuccessful payment. The reports sent to the board will also indicate all failed payments so that the association’s financial records can be updated.