Stanford Redwood City

The Office of the Treasurer (OOT) within Financial Management Services (FMS) is responsible for ensuring that funds for Stanford that are received through the banking system post accurately and as timely as possible to the General Ledger. To assist departments with efficient deposit practices, OOT is implementing improvements to how cash, checks, wires, and other incoming electronic receipts are processed and reported for better transparency across the university. This article provides an overview of one project that aims to enhance and streamline processes while maintaining sound financial practices for the university. (Originally published 2/2/24, revised 2/23/24)

While all individuals involved in financial transactions play an important role in stewarding university revenues, employees who oversee the depositing and accounting of incoming funds play a critical role in ensuring the university's revenues are steered appropriately within the internal control system and according to generally accepted accounting principles.

The Unidentified Receipts and Branch Deposits website, which currently is used to facilitate the recording of deposits which cannot be directly posted to the General Ledger, has presented difficulties for departments including the inability to allow claiming receipts to a “5XXXX” expenditure type, such as reimbursements for personal charges. This scenario requires additional efforts to claim a “4XXXX” revenue object code and then complete a journal transaction. Additionally, system access does not align to standard practices for financial systems, which includes reserving access to those individuals with the appropriate authority privileges in Authority Manager and who have completed required training.

What's changing?

Based on feedback from campus users, and as part of efforts to streamline processing activities, on February 26, 2024, OOT will implement the following enhancements:

  • New combined system Deposits and Receipts Manager which provides access to the Unidentified Receipts and Branch Deposits website and the Mobile Deposits Correction Tool all in one place within Oracle Financials. Deposits and Receipts Manager allows users to:
    • Claim branch deposits and unidentified university receipts directly to either a PFOO or PTAE
    • Correct J.P. Morgan (JPM) mobile app deposit accounting information
  • New ability to directly claim deposits and receipts to 5xxxx series expenditure types, eliminating the additional manual process of reclassing via iJournals and minimizing the need for OOT intervention.
  • New authority model allows department finance and budget managers to directly grant the authority privileges needed to access Deposit and Receipt Manager.

Before the change

On Monday, Feb. 26 at 8 a.m., OOT will release the new Deposits and Receipts Manager system in Oracle Financials. Prior to that, the following changes will occur:

  • Friday, February 23, 2024 at 5 p.m. PT:
    • If users have bookmarked either the Mobile Deposits Correction Tool or the link to the Unidentified Receipts and Branch Deposits website, they will see guidance on the landing pages on how to access the new system within Oracle Financials after this date.
    • Friday, February 23, 2024 after the 5 p.m. cutoff: Any claimed transaction in a pending status will be automatically posted to the GL. 
      • If the employee who would have approved it does not want it posted, they can submit a support request to OOT who can post a reversing transaction or reclass it to a different GL account.

Gaining access to the new system

How will current users gain access?

To support this change, FMS reviewed the history of transactions claimed or corrected through the tools. Those individuals will be notified by FMS that they will be automatically granted the SU CM Deposits and Receipts Manager authority privilege on February 26. Please note that to activate this privilege, employees must complete FIN-PROG-0020: Financial Stewardship Expectations or ensure current recertification status is complete within STARS.

How will new users gain access?

FMS has identified grantors of the new system privilege based on those individuals who approved historic transactions created using the current tools. Grantors will be notified by FMS that they will be automatically granted the SU CM Deposits and Receipts Manager authority privilege on February 26 along with the ability to access the system and grant the privilege to new employees and others within their school/department as they see fit.

Employees who have been granted the new SU CM Deposits and Receipts Manager authority privilege and who have completed FIN-PROG-0020 will be able to access the new Deposits and Receipts Manager system directly from the Oracle Financials home page, Navigator menu.

If the employee has not completed the FIN-PROG-0020 course or is not current with the annual recertification, the new authority privilege will show as “pending” in Authority Manager and they will not be able to access the system until the course is completed. Following completion of the certification program their access will be automatically reactivated within a few hours.

Related resources

To learn how cash, check, and electronic receipts are currently managed, see:

Additional guidance


Stay up to date

  • Impacted system users will receive targeted email communications.
  • Visit the #Stanford-FMS-News Slack channel for periodic updates.
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