Quick Steps: Process Department Receipts via University Cashier's Office (with Cashier’s Office Department Transmittal Form)

Instructions for depositing department checks and cash via the University Cashier's Office


Who does this?  Staff, Faculty

When?  On the day checks are received, or as soon as possible thereafter

How?  Preparing Cashier’s Office Department Transmittal Form funds and delivering them to the University Cashier's Office

Note 1:  Departments which receive cash / checks on a regular basis should arrange with Cash Management the most efficient method for handling receipts.

Note 2:  Departments that make frequent deposits may elect to use CASHNet.com for on-line preparation of department deposits, streamlining the preparation and processing time. See Overview: Online Preparation of Department Deposits Using CASHNet.com.

 

Process Department Receipts via University Cashier's Office (5 steps)

step 1

Complete the Departmental Transmittal Form per instructions on the form:

  1. If depositing Department Income, the PFO entered on the transmittal form should include a designated income fund (award range BAAAA-FZZZZ) and use a proper code(s).
  2. If depositing Reimbursement Payment to Stanford, the credit must be recorded against the account PTA which was originally charged for the expenditure, and if at all possible, should be credited against the original expenditure type as well.


    3. Note 1:  For expenditure credit receipts related to transactions that originated in iProcurement or iOU, the reimbursement check should be delivered to Disbursements via U.S. mail to 3145 Porter Drive Palo Alto, CA 94304 or via ID Mail to MC 8440, with a reference to the original transaction number, not to the University Cashier's Office.

    Note 2:  Salary-related reimbursements are handled through Payroll. See Quick Steps: Adjust for Employee Overpayment.
step 2

Have an appropriate financial approver sign the form, verifying that:

  1. all departmental accounts and any object codes / expenditure types noted are correct.
  2. the amount of funds going for deposit equals the amount noted on the form.
  3. checks are properly endorsed on the back with "For Deposit Only to Stanford University" and the appropriate PFO or PTAE information is noted on the front.
step 3

Hand deliver the transmittal form and accompanying funds to the University Cashier's Office.

Note:  Any cash deposit in excess of $10,000 must be reported to the University’s Tax Department using IRS Form 8300.
step 4

Obtain a deposit receipt from the University Cashier's Office.

step 5

Reconcile the data on the transmittal form and the deposit receipt with financial statements to ensure the correct amounts are credited to the correct accounts.

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What Happens Next?

  • Designated income transactions should appear as "receipts" on fund reports and as "revenue" on operating reports, typically on Tuesday of the week following the deposit. They will not automatically show on expenditure reports unless someone from the school or department processes an iBudget transaction to add the amount to an appropriate budget. For further detail, see Appendix C of Cash and Check Receipts Guidelines.
  • Credits (reimbursements) against non-salary expenditures will appear on expenditure reports as negative amounts under the appropriate expenditure type and on fund reports as positive amounts under the appropriate expense category. The earliest these deposits will appear on any financial reports is Tuesday of the week following the deposit for fund reports and "daily" expenditure reports, and Monday of the week following that for "non-daily" expenditure reports (i.e., those based on the STAR data tables). For further detail, see Appendix C of Cash and Check Receipts Guidelines.
  • Departments should retain financial records as instructed in Administrative Guide Memo 34.4: Retention of Financial Records.

Questions?

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