In October 2004 many Limited Purchase Check custodians tested a WEB application that would allow them to promptly enter their issued LPC’s into a collective database from which central administration could prepare a positive-pay report for the bank. A few enhancements and simple modifications came about as a result of this pre-production process, and the daily report to the bank is now being generated from this system.
The WEB application is now available for live custodial activity. This is not a test. We populate the LPC positive pay system with the payment information that is available from the PeopleSoft AP Module and the custodians’ data entry. It is important for each custodian to log into the WEB application through the employee portal to review the available data and to enter check information that does not appear on the issue list. Custodians are now responsible to enter their daily LPC issues and other LPC activity into the positive pay system by the end of each business day. Click here for a tutorial if you have forgotten how to use the positive pay application.
While we expect a smooth transition into this process, we also suspect that errors and omissions will happen. Secondly, many custodians have recently returned outdated check stock for new checks. We are doing our best to record these conversions, but we will not be done by the 25th. Therefore, all fees or penalties associated with the LPC positive pay program will be waived until further notice.
Kindly pass this message on to other custodians who may have trouble accessing their email or internet access. Questions and comments can be Emailed to ap@admin.utah.edu.
