Whenever a donor requests a donation receipt. When a donor received goods or services in exchange for a single donation greater than 75. The Cashier’s Office will assume responsibility for identifying and posting these payments. The IRS requires donation receipts in certain situations: Single donations greater than 250. If these funds cannot be “identified” within 24 hours, the funds must be taken to the Cashier’s Office for deposit into the Universities unidentified account. Occasionally, departments receive funds (usually checks) lacking sufficient documentation for determining if these funds belong to the department. ![]() Deposits containing cash must not be mailed to the University Cashier’s Office. At night or outside of business hours, all funds must be kept in a secured (locked) storage area, such as a locked desk, file cabinet or safe.Ĭheck deposits may be mailed to the Cashier’s Office, Old Main Building, provided the deposit:Ĭopies of checks should be made for each deposit mailed, as the department is responsible for lost deposits and having the checks reissued. The container should not be left unattended during the work day. To protect funds, they should be kept in a lockable container, such as a cash box, and stored in an area that is not visible to unauthorized personnel. Departments are responsible for safeguarding receipts and all funds must be kept in secure locations. When submitting a deposit slip to the Cashier’s Office, please make sure it is filled out completely and contains the Department, Banner Fund, Banner Org, Banner Account and Banner Program.įor departments collecting funds on a regular basis, deposits must be made daily.Īll accumulating cash receipts totaling $500 or more must be deposited the day of receipt. In order to ensure that funds received are credited to the correct account, the banner account must be provided for each deposit line item. You record cash receipts from sales to a customer in the Cash Sales Journal and other cash receipts in the Cash Receipts Journal. Failure to deposit funds within stated time frames may result in an audit finding and must be reported to University Management. Receipts are an official record that represents proof of a financial transaction or purchase. Departments that fail to adhere to established guidelines are required to submit a written explanation from the Dean or Department Head to the Assistant Bursar and include corrective action taken to ensure funds are deposited within guidelines. The Cashier’s Office is responsible for monitoring departmental deposits to ensure compliance with State guidelines. All deposits must be brought to the Cashier’s Office by 3:00 pm (unless department is a direct depositor) A direct depositor is an area authorized by the Controller to deposit directly to the University’s bank account rather than making deposits at the Customer Service Window at the University Cashier’s Office. Funds include coins, currency, checks, money orders, and traveler’s checks.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |