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Effective: 6/1/1985

Revised: 3/1/2006

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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 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. semi-monthly journal entry 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 Cashiering Services at 480/965–7468.

  2. Advantage Offline Cash Receipt

    This form is used by university departments that do not have access to the Advantage online cash receipt process or cannot use the preprinted Cashier Receipt described below. Any coding combination authorized by Advantage can be used.

  3. Cashier Receipt

    This form is preprinted; no additional account code information can be written on the form. Each form references a table that contains the account code information. Only one line entry is permitted for each form. All requests for changes to this system must be submitted to Cashiering Services.

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 Cashier Receipt form. Departments that deposit large amounts of cash and credit card receipts are encouraged to obtain a locked depository bag, available for a minimal charge from Cashiering Services.

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 cash receipt or Cashier Receipt 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)		 Advantage Offline
Cash Receipt		 Cashier Receipt
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. Leave blank. This is completed by Cashiering Services. 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 N/A
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. same as C1 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. same as C1 N/A
Action Required. Enter E. The action “E” is pre-printed on the document. N/A
Bank Account Code Required. Enter 01. The bank account code “01” is pre-printed on the document. N/A
Cash Account Required. Enter 1100. same as C1 N/A
Comments Leave blank. This is used by Cashiering Services. same as C1 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.
 same as C1 Optional
Reference
Number		 Leave blank. same as C1 N/A
Reference
Line No.		 Leave blank. same as C1 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. same as C1 N/A
Agency Required for revenue transactions, expense reimbursements, and vendor refunds; optional for balance sheet transactions. same as C1 N/A
Organization Optional. This is required for revenue transactions and expense reimbursements. same as C1 N/A
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 N/A
Reporting Category Leave blank. same as C1 N/A
Revenue Source Required when a receipt is being applied to an Advantage revenue/sub-revenue source; otherwise, leave blank. same as C1 N/A
Sub-Revenue Required if a revenue source has been coded; otherwise, leave blank. same as C1 N/A
Job Number Optional. same as C1 N/A
Function Optional. For annual disclosure of cash and check handling, the following function codes may be used: CASH (cash), CHCK (check), and CRCD (credit card). For revenue expense reimbursements and vendor refund transactions, users may enter their own codes further distinguishing revenue/sub-revenue and object/sub-object codes. same as C1 N/A
Balance Sheet
Account		 Required when a receipt is being applied to an Advantage balance sheet account; otherwise, leave blank. same as C1 N/A
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 N/A
Sub-Object Required if an object code has been coded; otherwise, leave blank. same as C1 N/A
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 N/A
Description Optional; for reporting purposes only. The first 30 characters will be stored in the computer. same as C1 N/A
Amount Required. Enter the dollar amount of the item(s) described on this line. same as C1 Same as C1. Only one line amount may be used for each receipt.
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 N/A
Partial/Final
Indicator		 Leave blank. same as C1 N/A
Document Total N/A Required. Total of all amounts. Optional
Prepared By N/A Required. Name of the person who prepared the form. same as C1
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 payment, check each applicable method and list the amount of each payment by type above the method of payment on the cash receipt.
    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 four 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 four screen prints of the receipt transaction. Retain one as a reference until the transaction has been validated; forward the other three copies to Cashiering Services as discussed in step 6, below.

    Advantage Offline Cash Receipt Form

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

    Cashier Receipt

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

  2. Deliver the amounts to be deposited, along with either a screen print of the online Cash Receipt Input form, the offline Cash Receipt form, or the Cashier Receipt, 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. (Typically, 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.

    Advantage Offline Cash Receipt Form

    Return the receipt copy to the department; retain the two cashier copies.

    Cashier Receipt

    Return the pink copy to the university department; retain the white 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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