When the bank puts a flag on an account, by way of a stop payment,for the benefit of the bank so an item won't pay on a recurring debit revoked by the consumer, do we need to complete the s/payment form.( Just for record purpose).
Thanks

Don't you already have a form signed by the customer revoking the recurring debit? Why would you need another form?

Yes, the customer would have signed the WSUPP that they revoke the authorization and have notified the company. So this would be in file for that area.

I guess what I was wondering about is on an exam, if the stop payment list was pulled and they wanted to see copies of your stop payment forms, would there be any fuss because we (the bank) put on a stop payment as a flag for our purpose, but didn't have any s/pay where we'd explained why and employee signed name/and noted as in house stop.

I have never had stop payments compared to source documents in other than an internal audit. If your internal auditor cannot understand this process once it is explained to them, it would be time to switch your internal auditor. If you feel strongly about documentation, put another copy of the WSUPP in the stop payment file.