The question was does the person opening the company's mail deposit the checks. True/False. I answered True.
My whole accounting career has been in hotel and restaurants. Since 1975 when I had my first accounting clerk job in a hotel, all of the mail was opened by the General Manager's secretary. She removed all checks regardless of the addressee. The addressee got a copy of the check with copies of support. Checks arrived for one of 3 groups typically (accounting to pay on AR, reservations to place advance deposits, and catering/sales for group function deposits).
She would prepare three listings based on the above. Miscellaneous checks (commissions) went to the accounting list. Each list was accompanied by the copy of the check and the original back up received with the check. She did a restricted endorsement to the back of the checks, listed them on a deposit slip, and dropped them as a cashier drop similar to deskclerks, cashiers, and bartenders. The general cashier in accounting dealt with them the next day.
Transactions were posted by the appropriate departments from the listings they received. This was a audit check point by all external auditors since 1975 that I encountered. This was corporate policy regardless of chain, i.e. Sheraton, Hilton, Westin, Ramada, Holiday Inn, Hyatt.
I missed this question. Has SOX changed this? Were we all doing it wrong for 31 years? TK