Financial Services Manual (FIN)

FIN 305 Table

University Endorsement and Coding

The university department:

1. receives monies in the form of cash, checks, and credit cards
2. restrictively endorses all checks upon receipt in the proper format

   Note: Restrictive endorsement stamps may be ordered at Cashiering Services.

   and

3. codes the appropriate Departmental Input Receipt or Advantage Cashier Receipt Form.

Note: Do not complete a cash receipt/cashier receipt for credit card payments that Financial Services records by journal voucher.

(A long table on Cash Receipt Coding Instructions appears here in the body of the procedure.)

Other Preparation Instructions

The university department:

1. indicates 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, each applicable method is listed and the amount of each payment is listed 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. attaches two adding machine tapes showing equal totals for deposits of three or more checks
3. separates cash deposits by denomination and stacks all bills so they face the same direction
4. rolls coin deposits if the coin totals exceed the following amounts:
   
   1. pennies $.50
   2. nickels $2
   3. dimes $5

      and

   4. quarters $10.

      Note: Coin rolls are provided by Cashiering Services at no charge.

5. Advantage Online Cash Receipt Input Form

   makes three screen prints of the receipt transaction (one is retained as a reference until the transaction has been validated; the other two copies are forwarded to Cashiering Services, as discussed in the next step)

   Departmental Input Receipt Form

   separates the department copy of the completed, unprocessed form and retains it as a reference until the validated receipt is returned to the department

6. delivers 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. verifies that the receipt is complete and free of obvious errors
2. verifies that the total cash deposited agrees with the receipt total (all cash received is counted before the receipt is validated)
3. verifies that the adding machine tape totals attached to the checks agree with each other and with the receipt total
4. verifies that the completed batch header accompanying the completed credit card charge slips agrees with the enclosed cash receipt form
5. validates the cash receipt forms:

   Advantage Online Cash Receipt Input Form

   returns one copy to the university department; retains the other two copies

   Departmental Input Receipt Form

   returns the receipt copy to the department; retains the one cashiering copy.

The university department:

1. verifies 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

   and

2. reviews monthly Advantage reports to verify proper posting of deposit amounts.

Return to FIN 305