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Voiding Buyback Checks

  • Updated

Voiding Buyback Checks

Once buyback is completed and funds are no longer needed, deposit excess cash. If there are remaining checks, void the check(s) through eStore Portal. Uncashed checks should not be held in the safe longer than 30 days.

Stores have the option of voiding their buyback checks for one of the following reasons:

  • Excess buyback funds
  • Check lost or missing
  • Wrong payee on check
  • Damaged check
  • Other
  1. First log into eStore Portal.
  2. Select Financials Store Fund Requests from the Main Menu.

The REQUEST FOR ADDITIONAL STORE FUNDS screen appears.

  1. Select Voiding Buyback Checks from the links at the top of the page.

The REQUEST TO VOID BUYBACK CHECK/S screen appears.

  1. If you are responsible for more than one store, select the store from the list.
  2. Enter a From Date and a To Date.
  1. Click Run.

The check information is displayed in a grid format. ClosedView field definitions.

  1. Select the Void radio button for each check that you want to void.
    Note: For each check, select the reason for the void from the drop-down menu.
  2. After you have selected the Void option and reason for all checks you want to void, click Submit.
  3. A series of pop-up screens appear. Do the following:

At the, Are you sure you want to submit a request to void the following check? prompt, click OK to continue with the check voiding.

-or-

Click Cancel.
The, "Are you sure you want to cancel this request" prompt appears.
On this pop-up:

  • Click OK to cancel the request

-or-

Click Cancel to proceed with the void request.

  1. A validation process is performed. One of the following occurs:
  • If there is a match, the request is accepted. No pop-up message appears. Continue with step 10.
  • If there is no match, the process is terminated after a pop-up screen appears that states:

    "Check #XXXXXXX is not a buyback check issued through the Buyback Fund Request. Please contact A/P."

  1. Once the request to void is submitted, an automated e-mail is generated to the store’s Regional Manager (the store is copied). This is a notification only; no action is required from the Regional Manager.

Void Check Process

The home office reviews the check to make sure the check can be voided. The request is either approved or denied. Stores have the option of voiding their buyback checks for reasons outlined in the Reason to Void field in the above table.

Approved Request

If the request is approved, an email is sent to the Store Manager, the Regional Manager, and the Home Office Cash Department indicating the request was approved. The email instructs the store to shred the check(s) immediately and enter a negative change order.

Note: The status of the check is changed from Pending to Sent2Lawson.

Complete a negative change order to remove the funds from the safe count in CORE Back Office. Then ensure the check is shredded and disposed of immediately.
See Complete a Change Order for more information.

Rejected Request

If the request is rejected, an email is sent to the Store Manager and Regional Manager indicating that the request has been rejected. The store can contact the Follett Treasury Department at treasury@follett.com for further information or clarification.

Note: The status on the check is changed from Pending to Rejected.

Deposit Unused Buyback Funds Not Requested In eStore Portal

Do NOT use this procedure for checks that were requested on eStore Portal. Void the check in eStore Portal instead.

There are different procedures for reducing unused buyback safe funds depending upon whether the unused funds are in cash or check form. Do NOT hold unused buyback funds for rush.

Buyback Cash Funds

Deposit unused buyback cash funds with your End of Day deposit. See the Bank Deposit policy.

Buyback Check Funds

If the check was not originally requested through eStore Portal, the store cannot void the check in eStore Portal. In this case, the store must deposit these funds with the store deposit along with cash funds.

Use Reason Code CK02 for unused buyback fund check(s) if an overage occurs.


Follow these guidelines to deposit unused buyback funds

  • Sign your name and "For Deposit Only" on any unused buyback checks

  • Include all remaining buyback funds, cash or checks, in the store's bank deposit to the regular depository bank account.

  • Record the deposit in CORE Back Office.

  • When recording the deposit in CORE Back Office, use the same reason codes noted above to account for variance.

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