Posting Travelers Checks

Do you post travelers checks as cash? This may be a potential theft/security risk. Instead, create a separate account code for travelers checks (Setup > Configuration > Guest Ledger > Account Codes) and use the following steps for posting payments with travelers checks:

1. Post the full amount of the checks using the new account code. If the guest wants to pay for a $110 folio with two $100 travelers checks, post $200 with the travelers check account code.
2. Post a second transaction for the change given back to the guest with account code 299 (Cash Refund/Paid Out).
3. Your cash totals will always be accurate by using this method.