In a scenario where a person pays another person using checks, the check received person or can say the payee is supposed to deposit the same check in the particular account.
Role of an accounting firm
Accounting firms should have to keep an eye on the accessed checks and avoid unclaimed checks and other sorts of property. If the checks given to the employees or vendors remain without cashing, these checks may evolve as assets to the state in the future. Here comes the role of an accounting firm, and the first thing that they have to track is the income and the expense, and also, they should have an eye on accounts payable.