Departmental Deposits

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

  1. Miscellaneous Departmental Deposit for Tender Type Cash/Checks (CCK): Total the coin, currency and checks received and processed for the business day.
  2. Bank Deposit: Prepare a deposit slip and prepare a tamperproof bank bag for each single deposit containing coin, currency, and checks to be deposited at the bank.  It would be ideal to list each check # for research purposes on the deposit slip or in the deposit journal.  If there are too many, list the number of checks included in the deposit on the deposit slip next to the check amount.  Each bank bag must show the Date, Submitter’s first and last name, Department Name, Deposit Amount.  Lack of information on the deposit bag will delay the funds from being sent to the bank.

Content of the deposit bag should only include money and the deposit slip.  Miscellaneous Deposit Form is not a deposit slip.

  1. Drop Box: Seal the tampered proof bank deposit bag and place it in a designated drop box located behind Carruth O’Leary Hall or behind Strong Hall to be couriered to the bank.
  2. Miscellaneous Deposit Form: Form should be completed in accordance with business process established.  For funds received by the Departments, Department staff will complete the Miscellaneous Deposit Form with proper accounting and submit to the Shared Service Center along with any supportive  documentation for the deposit.  Details regarding the deposit or itemized listing per customer payment, amount and type of funds received may be entered in the form for record keeping.  SSC representative will review the form and submit to FACC Office at facc_receipts@ku.edu.

The Miscellaneous Deposit Form may be downloaded from the Financial System Resource Center site.  Link: https://kansas.sharepoint.com/teams/fsrc/Lists/GL%20Forms/Tiles.aspx

For funds directly deposited in the university bank account by ACH, wire or settlement from credit card processing, deposits are required to be processed on a daily basis.  Department will complete the Miscellaneous Deposit Form and send to the Shared Service Center along with supportive documentation for the deposit.  who will review the form and documentation and submit the form to the FACC Office.   must on a daily basis agree and complete the Miscellaneous Deposit Form.

Instructions to complete the Miscellaneous Deposit Form

For submission of each MISC Deposit Forms in the subject line enter DEP MM/DD/YY Dept Name Bag #.  Example, DEP 12/7/17 Comptroller COMP1234567. 

Please complete all contact information for both department and SSC:

 

If the SSC only is initiating and submitting the deposit form, in the “Department:  Submitted by” fields enter the department name.  The department name represents the department receiving the revenue and/or reduction of expense. The department name should be spelled out (no abbreviations) and should not reflect SSC. The business date is the day the business activity was conducted.

 

In the “SSC:  Submitted by” fields, the name should reflect the first and last name (no initials) of the SSC staff submitting the deposit. The date field in this section indicates submission date.

 

For reduction of expense deposits, make sure that the original expenditure and transaction ID is referenced in the comment box and the reduction of expense field is marked “yes”.  If the deposit is not a reduction of expense, indicate “no”.

 

For the accounting data, all segment fields per line should be completed.  If there is not a value, enter the default values as shown below. 

 

Fund (3 digits)

Account (6 digits)

          Use correct account codes

          Revenue begins with 4

          Expenses begin with 5

Cost Center (7 digits)

CF1 (10 digits) = 0000000000

Program Code (4 digits) = 0000

Reimbursable (10 digits) = 0000000000

Project (10 digits) = 0000000000  

 

In the Bank Bag Number field enter the following: 

If your tender type is cash/check, enter the department acronym followed by the numeric bank bag number (do not use the alpha characters on the bank bag).

For any other tender type, enter the department acronym followed by the business date in MMDDYY format.

 

Each business day’s activity should be recorded on a single MISC Deposit Form for each tender type.  Each bank deposit bag information must be listed on its own MISC Deposit Form.

Tender types must be separated as follows:

Cash/Check (CCK report code)

Credit Card by batch includes Visa, M/C, DISC, and AMEX (CCD report code)

ACH/Wire (WRT report code)

eCheck (ECK report code)

 

Do not insert MISC Deposit Form in Bank Bag.

Related Policies and Links:

Departmental Deposit Policy  (Link to Policy Library)

Departmental Receipts Policy (Link to Policy Library)

Returned Checks Policy (Link to Policy Library)

Safety and Security of Funds (Link to Policy Library)

Sales Tax (Link to Policy Library)

 


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