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Q&A

Depositing

Some of our chairpersons hold on to donation checks for a long time before handing them in to our treasurer. Is there a rule on how ling they should be held. I would imagine it messes up the donors check nook if pto is holding for a month
- mvg1013

Hi there,
A little curious why anyone would be hanging onto donations for the group. Technically, a bank does not have to honor a check after six months (https://www.forbes.com/sites/moneybuilder/2012/04/26/how-long-are-undeposited-checks-good/#6f254a4945f3). It would make sense to remind chairs to promptly submit checks that they have collected and not that it can be irritating to a donor if a check hasn't been deposited because they can't reconcile their own checkbook.

Rose
- Rose H
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Hi there,
A little curious why anyone would be hanging onto donations for the group. Technically, a bank does not have to honor a check after six months (https://www.forbes.com/sites/moneybuilder/2012/04/26/how-long-are-undeposited-checks-good/#6f254a4945f3). It would make sense to remind chairs to promptly submit checks that they have collected and not that it can be irritating to a donor if a check hasn't been deposited because they can't reconcile their own checkbook.

Rose
- Rose H
Links in this post: