Departmental Deposits

Departments or Shared Service Centers that receive or collect money (physically held currency) for any type of academic related programs, events, place holder deposit or other income for product or services must on a daily basis or any given day that funds are received do the following:

  1. Departmental Receipts: Total the accounting receipts and funds received/processed for the day.
  1. Bank Deposit: Prepare a deposit slip and prepare a tamperproof bank bag for each single deposit containing currency, coin and checks to be deposited at the bank. 
    Example Bank Bag (PDF)
  2. Drop Box: Seal the tampered proof bank bag and place it in a designated drop box located behind Carruth O’Leary Hall or behind Strong Hall to be armor couriered to the bank.
  3. FSKU Deposit Info: Provide receipt and funding support to the appropriate SSC staff to complete a deposit within the PeopleSoft Financial system’s Departmental Deposits module > Deposit Info.  Details regarding the deposit or itemized listing per customer receipt, amount and type of funds received may be entered in the system for record keeping.

For funds directed deposited in the university bank account by ACH, wire or settlement from credit card processing, Departments or Shared Service Centers must on a daily basis agree and record deposit in the financial system with appropriate funding for these receipts. 

Departmental Deposit Tip Sheet (PDF)

Departmental Deposit Policy »

Departmental Receipts Policy »

Returned Checks Policy »

Safety and Security of Funds »

Sales Tax »

 


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