Financial Services Manual (FIN)

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Effective: 6/1/1985

Revised: 3/1/2010

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[ASU logo]

FIN 305: Deposits at University Cashiering Services

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Purpose

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To deposit collected university receipts at Cashiering Services

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Source

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University policy

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Policy

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Deposits at Cashiering Services are made according to procedures established by Financial Services. Departments must not make any deposits related to sponsored grants or contracts at Cashiering Services. Instead, these receipts must be delivered directly to Grant and Contract Accounting. All cash receipts are to be deposited intact at Cashiering Services without any portion being used for departmental expenditures. The university procurement policy is to be adhered to for all university purchases, and under no circumstances may purchases be made directly from cash receipts.

Note: FIN 301–01, “Deposits—General Policy,” contains the university policy on receipt of university funds. This policy (FIN 305) calls on university departments to deposit receipts directly at Cashiering Services unless other deposit procedures are in effect for the item, as discussed in FIN 301–01 and FIN 303, “Gift Deposits (Including Gift-in-Kind Donations) and Special Event Receipts with a Gift Component.”

Credit Card Payments

The procedures described in this policy only apply to manually processed credit card payments. Manually processed credit card payments require the submission of paper charge slips to Cashiering Services for processing and deposit to the university’s bank.

Credit card payments processed electronically through an electronic data capture terminal, an electronic ticket system, or other electronic processing system, are automatically deposited to the university’s bank account. Credit card payments processed electronically are to be maintained by the department in a secure and restricted area in compliance with credit card regulations and federal privacy laws, and are recorded in Advantage by one of the following methods as determined by Financial Services:

  1. cashier receipt submitted by Financial Services

    or

  2. cashier receipt submitted by the department to Cashiering Services.

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Procedures

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Methods of Depositing Collected University Receipts

Collected university receipts may be deposited at Cashiering Services by three methods:

  1. Advantage Online Cash Receipt Input Form

    This form is used by university departments that have access to the Advantage online cash receipt process. Any coding combination authorized by Advantage can be used. Online cash receipts must be approved via an online approval process in Cashiering Services. This approval will not be applied until the originating department has delivered a copy of the document that it entered online and the money to be deposited to Cashiering Services.

    Departments that desire to obtain access to the Advantage online cash receipt process should contact the Advantage Helpline at 480/965-2334.

  2. Departmental Input Receipt Form

    This is the preferred form to be used by university departments to make deposits through Cashier Services, and any coding combination authorized by Advantage can be used.

Certain procedures need to be performed to assure that deposited monies are credited to the proper university agency/org. All monies deposited must be accompanied by a properly completed Departmental Input Receipt or Advantage Cash Receipt Form. Departments that deposit large amounts of cash and credit card receipts are encouraged to obtain a locked depository bag.

University Endorsement and Coding D

Responsibility
Action
University department
  1. Receive monies in the form of cash, checks, and credit cards.
  2. Restrictively endorse all checks upon receipt in the proper format.
    Note: Restrictive endorsement stamps may be ordered at Cashiering Services.
  3. Code the appropriate Departmental Input Receipt or Advantage Cash Receipt Form using the information below under “Cash Receipt Coding Instructions” and “Other Preparation Instructions.”
    Note: Do not complete a cash receipt/cashier receipt for credit card payments that Financial Services records by journal voucher.
Cash Receipt Coding Instructions
Field To Be
Completed		 Advantage Online Cash
Receipt Form (C1)		 Departmental Input Receipt Form
Cash Receipt
Number		 Required if this is a new document. This field is completed by the accounting system since ASU uses the automatic numbering feature for C1 documents. If you are changing existing lines, enter the number used on the document that originally defined the lines. N/A
Date of Record Required. Enter the date that you want to associate with these transactions, usually the current date, in MMDDYY format. Same as C1
Department Name N/A Input name of department that is submitting form.
Speed Type N/A Optional. May use Speed Type in lieu of inputting specific accounting information, but not both.
Accounting
Period		 Optional. If left blank, the transactions on this document are recorded in the current accounting period. If you want these transactions to be recorded in some other accounting period, consult your accountant. You cannot enter future periods. N/A
Budget FY Optional. If left blank, the transactions on this document apply to the current fiscal year’s budget. If you want these transactions to be recorded in some other fiscal year, enter the desired fiscal year. You cannot enter future budget fiscal years. Consult your accountant for assistance, if necessary. N/A
Action Required. Enter E. N/A
Bank Account Code Required. Enter 01. N/A
Cash Account Required. Enter 1100. N/A
Comments Optional: name and contact number. N/A
Document Total Required. Enter the unsigned (not + or -) net amount of all lines on the document. To compute this amount:
  1. Add together all the increase amounts (the lines with “I” or blank in the increase/decrease indicator field).
  2. Add together all the decrease amounts (the lines with “D” in the increase/decrease indicator field).

    and

  3. Subtract the smaller of these amounts from the larger, and enter that amount.
 N/A
Reference
Number		 Leave blank. N/A
Reference
Line No.		 Leave blank. N/A
Fund Leave blank unless the deposit is to be applied to a balance sheet account. The fund associated with a particular balance sheet account can be obtained from the Advantage ORG2 table. Consult your accountant if necessary. Required unless using Speed Type.
Agency Required for revenue transactions, expense reimbursements, and vendor refunds; not required for balance sheet transactions. Same as C1 unless using Speed Type.
Organization Required for revenue transactions and expense reimbursements; not required for balance sheet transactions. Same as C1 unless using Speed Type.
Sub-Organization Optional. This is used for departmental reporting purposes only. Enter the code of the sub-organization receiving the revenue or expense reimbursement on this line. Same as C1 unless using Speed Type.
Reporting Category Leave blank. N/A
Revenue Source Required when a receipt is being applied to an Advantage revenue/sub-revenue source; otherwise, leave blank. Same as C1 unless using Speed Type.
Sub-Revenue Required if a revenue source has been coded; otherwise, leave blank. Same as C1 unless using Speed Type.
Job Number Optional. N/A
Function Required. For annual disclosure of cash and check handling, the following function codes may be used: CASH (cash), CHCK (check), and CRCD (credit card). Optional; for revenue expense reimbursements and vendor refund transactions, users may enter their own codes further distinguishing revenue/sub-revenue and object/sub-object codes.
Balance Sheet
Account		 Required when a receipt is being applied to an Advantage balance sheet account; otherwise, leave blank. Same as C1 unless using Speed Type.
Object Required when a receipt is being applied as a vendor refund or expense reimbursement to an Advantage object/sub-object code; otherwise, leave blank. Same as C1 unless using Speed Type.
Sub-Object Required if an object code has been coded; otherwise, leave blank. Same as C1 unless using Speed Type.
Vend/Provider Code Optional; however, required when object/sub-object code fields are used. The provider code must be established on the Vendor Table (VEND). If you are using the receipt to reduce an expenditure and the refund is not from a vendor, the PROVIDER is “EXPRECEIPT.” Same as C1 unless using Speed Type.
Description Optional; for reporting purposes only. The first 30 characters will be stored in the computer. N/A
Amount Required. Enter the dollar amount of the item(s) described on this line. Same as C1
Increase/
Decrease
Indicator		 Required if document is a negative cash receipt (Advantage cash disbursement voucher). Enter a “D” in this field.

D = Decrease

Otherwise leave blank.

 Same as C1
Partial/Final
Indicator		 Leave blank. N/A
Document Total Leave blank. Required. Total of all amounts.
Prepared By N/A Required. Name of the person who prepared the form and date of preparation.
Register N/A Leave blank; completed by Cashiering Office.
Receipt # N/A Leave blank; completed by Cashiering Office.

Other Preparation Instructions

Use the instructions below with each type of receipt unless specific instructions are given.

Responsibility
Action
University department
  1. Indicate the method(s) of payment if depositing funds via a cash receipt (i.e., cash, checks, or credit card receipts). If a particular deposit is made up of more than one method of payment, list each applicable method and list the amount of each payment on a separate line on the form. Keep in mind that credit card payments have a Departmental Input Receipt Form that is separate from that for checks and cash.
    Note: Foreign checks that are not drawn on U.S. banks and checks drawn in foreign denominations must be listed on separate receipt forms. These checks are sent in for collections. The validation process is completed only when the funds are actually collected. The validated amount may be less than the face value of the check due to conversion and collection charges imposed by the banking system.
  2. Attach two adding machine tapes showing equal totals for deposits of three or more checks.
  3. Separate cash deposits by denomination and stack all bills so they face the same direction.
  4. Roll coin deposits if the coin totals exceed the following amounts:
    1. pennies $.50
    2. nickels $2
    3. dimes $5

      and

    4. quarters $10.

    Coin rolls are provided by Cashiering Services at no charge.

  1. Advantage Online Cash Receipt Input Form

    Make three screen prints of the receipt transaction. Retain one as a reference until the transaction has been validated; forward the other two copies to Cashiering Services as discussed in step 6, below.

    Departmental Input Receipt Form

    Separate the department copy of the completed, unprocessed form and retain it as a reference until the validated receipt is returned to the department.

  2. Deliver the amounts to be deposited, along with either two screen prints of the online Cash Receipt Input Form or the Departmental Input Receipt Form, to Cashiering Services.
Cashiering Services
  1. Verify that the receipt is complete and free of obvious errors.
  2. Verify that the total cash deposited agrees with the receipt total. (All cash received is counted before the receipt is validated.)
  3. Verify that the adding machine tape totals attached to the checks agree with each other and with the receipt total.
  4. Verify that the completed batch header accompanying the completed credit card charge slips agrees with the enclosed cash receipt form.
  5. Validate the cash receipt forms.

    Advantage Online Cash Receipt Input Form

    Return one copy to the university department; retain the other two copies.

    Departmental Input Receipt Form

    Return the receipt copy to the department; retain the one cashiering copy.

University department
  1. Verify the validated information on the receipt copy returned to the department, especially if the deposit was delivered in a locked depository bag or by courier.
  2. Review monthly Advantage reports to verify proper posting of deposit amounts.
endtable

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Cross-References

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For information regarding receipt of university funds, see:

  1. FIN 301–01, “Deposits—General Policy”

    and

  2. FIN 303, “Gift Deposits (Including Gift-in-Kind Donations) and Special Event Receipts with a Gift Component.”

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