Provide direction for proper handling of university financial deposits.
All University of Kansas departments and offices with deposit receipts
Please see the New Fiscal Year Departmental Deposit Training manual here: Dept Deposit How To.
State law and University policy require that all receipts be deposited at Student Account Services. No disbursements are to be made from accumulated undeposited receipts.
Deposits must be delivered to Student Account Services daily. A drop box is available at the loading dock behind Carruth O'Leary or behind Strong Hall (north side) near the Stop sign.
For the safeguard of university assets, do NOT keep checks or cash in a departmental office overnight or send through campus mail. Upon receipt of a check, the department must immediately endorse the check to reduce or prevent lost checks from being easily cashed.
Effective September 1, 1988, federal regulations require standardization of check endorsements. Since all endorsements by the University must fit within a 1 1/2 inch space on the trailing edge of the check, please assure that your departmental stamp will not take up more than ½ to ¾ inches. Therefore, endorsements should include the following information - For Deposit Only, Department Name/Org #, University of Kansas.
If money received by a department is payment on a University bill, the payment must be delivered to Student Account Services. The responsibility to bill and collect University charges rests with Student Account Services. If a student asks where they should send payment to pay University charges (tuition, fees, housing, options), the address is University of Kansas, Student Account Services, PO 414680, Kansas City, MO 64141.
All receipt records, deposit records, receivable records, and PeopleSoft monthly reports are to be reconciled monthly. Any discrepancy is to be investigated and resolved immediately after discovery.
Regardless of the method of accountability for departmental receipt deposits, the Comptroller's Office and/or the Internal Audit staff reserve the right to review or audit the departmental receipt deposit records. Periodic reviews will be conducted. All departments are responsible for the accountability of receipts and deposits.
Questions regarding accounts receivable or reconciliation functions should be address to Student Account Services at 4-3322. Questions regarding internal controls procedures to safe guard University funds should be directed to Internal Audit at 4-3975.
- How do I get the pre-printed deposit tickets?
- How do I get the deposit bags?
- What needs to go into the deposit bag?
- Can I put multiple deposits into one bag?
- The bag number is alpha-numeric (DD1234567). What do I key into my deposit transaction?
- What information do I need to write on the deposit ticket?
- Where do I return the deposit bag with my deposit?
- What reports do I need to run?
- Can I get other report formats or data on my deposits?
- Do I need to provide details in the financial system on my deposits?
- How do I input returned checks into the Departmental Deposit System?
- How do I handle rebates, refunds from vendors, and other non-revenue income?
- Can one deposit split money between cost centers?
- How do I cancel a departmental deposit?
Send an email to Student Account Services requesting more (email@example.com). If your department is one that has the department id pre-printed on the deposit tickets, please provide time to have the order reprinted.
Send an email to Student Account Services requesting more (firstname.lastname@example.org) or stop by Strong Hall room 23.
The bag remains sealed until it reaches the bank. The bank only needs the deposit coins, currency and check and white copy of the deposit ticket. The bank will discard all other items. (Example: notes or reports)
Yes, multiple deposits can be added to one bag. Be sure that the deposit tickets can be associated with the correct cash and checks.
Only the numeric (1234567) information is requested on the deposit transaction.
The deposit ticket should include the total amount for coin, currency and checks. This information can be found summed on the Deposit Approval panel. Individual checks do not need to be listed. Also write on your deposit ticket the Deposit ID number for your transaction.
The deposit bags are to be dropped off in the lock box on the loading dock – backside of Carruth-O’Leary Hall or behind Strong Hall(north side) near the Stop sign.
Reports are run for the benefit of your department and are not to be submitted with your deposit. Various reports are available to be used for reconciling deposits to month end reports.
If the current reports and queries do not meet reporting needs, please contact the Financial System Administrator to discuss additional report formats.
Providing details on checks is optional. Each deposit requires a minimal breakdown of coin, currency, checks and different credit card types. Beyond that it is a business decision if the details are added to the transaction or possibly tracked outside the financial system. Queries are available to extract detailed information.
Submit a Bank Adjustment deposit referencing the deposit ID from the original deposit of the returned item.
These should be handled as reduction of expenditure line items referencing the original cost center (all expense numbers start with a 1). Make sure that you check the reduction of expenditure box.
Yes, just use the add lines button and input the new information.
Visit the cancellation requests page.
Student Account Services
07/21/2016: Updated location of Student Account Services in Policy Statement FAQ section.
03/23/2015: Updated to reflect current nomenclature for Student Account Services.