Financial Services Division
Information Bulletin 2005-02
Topic:
Date:
Distribution:
Cash Receipting
November 25, 2005
To FSD Clients
Content:
1.
2.
3.
4.
5.
General
Cash Receipting System Controls
Data Limitations
Use of 7xxxx Account Codes for receipt of payments
Departmental Billings
With the implementation of UniFi and a new cashiering system, we have received a number of questions
about the process for depositing monies. University policies (including Policy 4.24 Managing and
Controlling Monies) continue to guide the recording of deposits and the handling of monies at the
University. This bulletin reviews the procedures and the appropriate coding for recording the receipt of
monies.
1. General
• All deposits should be coded to a revenue account code (5xxxx) or an accounts receivable
(1100x) account code.
Cashiers review the account code portion of the CFOAPAL for
appropriateness and may request additional information for any entries that aren’t coded to either
a revenue or an accounts receivable account code.
• Grants & Contracts - any deposit coded to a grant revenue account code (50xxx to 53xxx) should
be submitted separately and will be entered into UniFi with the name of the payee in the
description.
• Donations - revenue account codes beginning with 55xxx are donations and must be routed
through University Advancement (UA). The exception is charitable events authorized by UA
where only a portion of the amount received is considered charitable. In these cases, departments
submit the cash report to Treasury and forward a list of the donors (separating the donation
portion from the general receipt portion) to University Advancement so that charitable receipts
can be issued.
2. Cash Receipting System Controls
The cashiering system has controls configured to ensure that correct CFOAPAL’s are being used:
• The system verifies each portion of the accounting string to UniFi tables to ensure that each
portion of the CFOAPAL is valid.
• NOTE: The cashiering system does not return the name associated with the CFOAPAL, so there
is no online prompt for the cashiers to review. Treasury does not do a manual verification on
Fund or Org to ensure that the department submitting the cash report is using correct Fund or Org
codes. Departments are responsible for ensuring that they are using the correct Fund and
Org codes.
3. Data Limitations
The cashiering system limits the amount of data that can be included in any one deposit transaction.
• Departments – a maximum of 50 cheques can be included in one deposit transaction. Please
use a separate cash report if there are more than 50 cheques being submitted for deposit.
• Cashiers – a maximum of 15 CFOAPALS can be entered for each deposit. Departments can
submit a cash report that has more than 15 lines of data, but Cashiers will split the report to
ensure that no more than 15 lines are posted on one receipt. In these cases, departments will
receive more than one receipt for a particular cash report.
Financial Services Division Information Bulletin 2005-1
Preparing Journal Vouchers
November 25, 2005
Page 2
4. Use of 7xxxx Account Codes for receipt of payments
ƒ
Refunds & Rebates – represent amounts that are University incurred expenses being
refunded to the University by vendors. These payments should be credited to the CFOAPAL
where the original transaction occurred (including 7xxxx account codes). The cash report
should include a reference to the original transaction. Examples are: partial refund of a
subscription/membership fee; rebate related to computer purchase.
ƒ
Employee Reimbursements
Expenses originally charged to a University CFOAPAL (including 7xxxx account codes) that
are being reimbursed by employees should be credited back to the CFOAPAL where the
original transaction occurred. The cash report should include a reference to the original
transaction. Copies are forwarded to Audit Services for review under University Policy 4.02
– Use of University Property and Services.
•
Personal Expenses
Personal expenses originally charged to a University account code (including 7xxxx
account codes) that are being reimbursed by employees, Examples are:
o personal telephone/courier costs etc charged to the department
o amounts charged to the University in error – example: PCARD used by
mistake/ portion of PCARD is personal
ƒ
Non-University functions
Using University Funds for non university functions - example: retirement parties.
These expenses are not allowed under University Policy, however, if the expense has
already been processed, the payment will be credited back to the CFOAPAL where
the original transaction occurred.
5. Departmental billings that have not been set up as an accounts receivable
Generally all amounts received from an external company, other than refunds or rebates, should
be coded as revenue. For example:
•
Departments may invoice a sponsor of Research Funds (4xxxxx Funds) for reimbursement of
expenses incurred – for example travel costs. This reimbursement should normally be treated
as grant revenue and coded to account codes 50xxx to 53xxx. This applies even if the
amount received is equal to the original expense.
•
Departments that have invoiced an external company for sale of goods or services should
code these to 56001 (sale of goods) or 56002 (sale of services).
•
Departments that have invoiced another University department and are being reimbursed by a
cheque, instead of a JV, should code these to 78001 (sale of goods) or 78002 (sale of
services). Departments are advised to revise their processes and use a JV for internal
charges.
For questions related to this Bulletin please contact:
Subject Cash reports
Contact: Treasury
966-4605 (Cashiers) or 966-4648 (Julia Ukrainetz)
Subject Donations
Contact University Advancement