How can I redeem a savings bond without cutting a misc. check? Non-members have no account in which to deposit the funds, and my auditor wants me to limit how many employees are able to cut misc. checks.

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Tools

The best technique, for both members and non-members, is to use the Misc. Advances feature in Tool #1 Teller Line Posting. You'll need to configure a misc. expense/advance posting code (Tool #534 Misc. Posting Codes Configuration) for the GL associated with your savings bond redemptions. Then after you've entered the details of the savings bond redemption via the savings bond feature (Tool #913 Update Savings Bond Information), a teller would use the Misc. Advance proc code to post the redemption amount, using one of the following options on the Miscellaneous Advances posting screen:

Post Advance
- To return cash from the teller drawer to the member/non-member.
Balance Forward/New Member
- To use the funds from the savings bond redemption to deposit the funds into another membership (Grandma wants to redeem savings bonds and deposit the funds into a grandchild’s account…).
Balance Forward/This Member
- To use the funds from the Savings Bond redemption to deposit the funds into the member’s account.