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Please see
the New Fiscal Year 2008 Departmental Deposit Training manual here: Dept
Deposit How To .
State law and
University policy require that all receipts be deposited at the Bursar's
Office. No disbursements are to be made from accumulated undeposited
receipts.
Deposits
must be delivered to the Bursar's Office daily. A drop box is available at
the loading dock behind Carruth O'Leary or behind Strong Hall(north side)
near the Stop sign.
For the
safeguard of university assets, do NOT keep checks or cash in a departmental
office overnight or send through campus mail. Upon receipt of a check, the
department must immediately endorse the check to reduce or prevent lost
checks from being easily cashed.
Effective
September 1, 1988, federal regulations require standardization of check
endorsements. Since all endorsements by the University must fit within a 1 1/2
inch space on the trailing edge of the check, please assure that your
departmental stamp will not take up more than to inches. Therefore,
endorsements should include the following information - For Deposit Only,
Department Name/Org #, University of Kansas.
If money
received by a department is payment on a University bill, the payment must be
delivered to the Bursar's Office. The responsibility to bill and collect
University charges rests with the Bursar's Office. If a student asks where
they should send payment to pay University charges (tuition, fees, housing,
options), the address is University of Kansas, Bursar's Office, PO 414680,
Kansas City, MO 64141.
All
receipt records, deposit records, receivable records, and PeopleSoft monthly
reports are to be reconciled monthly. Any discrepancy is to be investigated
and resolved immediately after discovery.
Regardless
of the method of accountability for departmental receipt deposits, the
Comptroller's Office and/or the Internal Audit staff reserve the right to
review or audit the departmental receipt deposit records. Periodic reviews
will be conducted. All departments are responsible for the accountability of
receipts and deposits.
Questions
regarding accounts receivable or reconciliation functions should be address
to the Bursar's Office at 4-3322. Questions regarding internal controls
procedures to safe guard University funds should be directed to Internal
Audit at 4-3975.
· How do I
get the pre-printed deposit tickets?
· How do I get
the deposit bags?
· What needs
to go into the deposit bag?
· Can I put
multiple deposits into one bag?
· The bag
number is alpha-numeric (DD1234567). What do I key into my deposit
transaction?
· What
information do I need to write on the deposit ticket?
· Where
do I return the deposit bag with my deposit?
· What reports
do I need to run?
· Can
I get other report formats or data on my deposits?
· Do I
need to provide details in the financial system on my deposits?
· How do I
input returned checks into the Departmental Deposit System?
· How
do I handle rebates, refunds from vendors, and other non-revenue income?
· Can one
deposit split money between cost centers?
· How do
I cancel a departmental deposit?
How do I get the pre-printed deposit tickets?
Send an email
to the Bursar’s office requesting more (bursar@ku.edu). If your department is
one that has the department id pre-printed on the deposit tickets, please
provide time to have the order reprinted.
How do I get the deposit bags?
Send an
email to the Bursar’s office requesting more (bursar@ku.edu) or stop by
Carruth-O’Leary Hall, room 20
What needs to go into the deposit bag?
The bag
remains sealed until it reaches the bank. The bank only needs the deposit
coins, currency and check and white copy of the deposit ticket. The bank will
discard all other items. (Example: notes or reports)
Can I put multiple deposits into one bag?
Yes,
multiple deposits can be added to one bag. Be sure that the deposit tickets can
be associated with the correct cash and checks.
The bag number is alpha-numeric
(DD1234567). What do I key into my deposit transaction?
Only the
numeric (1234567) information is requested on the deposit transaction.
What information do I need to write on the deposit
ticket?
The
deposit ticket should include the total amount for coin, currency and checks.
This information can be found summed on the Deposit Approval panel.
Individual checks do not need to be listed. Also write on your deposit ticket
the Deposit ID number for your transaction.
Where do I return the deposit bag with my deposit?
The
deposit bags are to be dropped off in the lock box on the loading dock –
backside of Carruth-O’Leary Hall or behind Strong Hall(north side) near the
Stop sign.
What reports do I need to run?
Reports
are run for the benefit of your department and are not to be submitted with
your deposit. Various reports are available to be used for reconciling
deposits to month end reports.
Can I get other report formats or
data on my deposits?
If the
current reports and queries do not meet reporting needs, please contact the
Financial System Administrator to discuss additional report formats.
Do I need to provide details in the financial system
on my deposits?
Providing
details on checks is optional. Each deposit requires a minimal breakdown of
coin, currency, checks and different credit card types. Beyond that it is a
business decision if the details are added to the transaction or possibly
tracked outside the financial system. Queries are available to extract
detailed information.
How do I input returned checks into the Departmental
Deposit System?
Submit a
Bank Adjustment deposit referencing the deposit ID from the original deposit
of the returned item.
How do I handle rebates, refunds from vendors, and
other non-revenue income?
These
should be handled as reduction of expenditure line items referencing the
original cost center (all expense numbers start with a 1). Make sure that you
check the reduction of expenditure box.
Can one deposit split money between cost centers?
Yes, just
use the add lines button and input the new information.
How do I cancel a departmental deposit?
Click
here to access the cancellation requests page.
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