Departmental Deposit Procedures
University departments that receive money on a daily basis should make daily deposits to the Office of Student Accounting located in Meisler Hall Room 1300. Departments should use the official Departmental Deposit Form on the Student Accounting website:
After hours deposits can be placed in the payment drop box on the west side of Meisler Hall and the deposit will be processed the following morning. The deposits are retrieved from the departmental deposit box under dual control and verified. If any errors are identified, the Office of Student Accounting will contact the depositing department. The Office of Student Accounting has deposit bags available.
The Office of Student Accounting issues a pre-numbered receipt for the deposit to the department. Copies of the receipts are retained in the Office of Student Accounting and compared to the Daily Cash Receipts List. As cash is received at the Office of Student Accounting, the transaction is entered on-line. This entry, when accepted, generates a receipt. Cash in each drawer is counted daily and entered in the Cash Receipts Transactions System (CRT). The computer compares the amount entered to the total amount of the receipts written. If the amounts do not agree, the computer will not accept the batch until the difference is located or an over/short is created. Once in balance, the cash receipt is closed and finalized. The teller verifies the deposit amount. Campus Security transports the cash deposit to the bank daily. Checks are processed electronically through remote deposit capture and transmitted daily to the bank. Transactions are posted to Banner Finance nightly, with reports available online
When cash is received in a significant amount (>$50,000) the Office of Student Accounting will start another batch with that receipt. When practical, this deposit will be delivered to the bank immediately.