Depositing Directly at a Bank

Use this guide when depositing directly at bank.

Direct Deposit Guidelines

 Deposit Slip Instructions:

 Enter the date on the receipt (the actual date of bank deposit)

  1. Enter the total amount of bills and coins.
  2. List the amount of each domestic check. Do not include foreign checks. They should be attached to a separate credit voucher and send to Cash Receipts for processing.
  3. Sum the total of currency, coins and checks in the total. 

The total of the deposit slip must equal the total of your credit voucher.

  1. Enter the Total Number of Checks

 Note: Please refer to Bank of America’s Quick Reference Guides to avoid deposit condition fees

 Credit Voucher Instructions:

  1. Complete credit voucher, attach validated deposit ticket to the back of it and submit it to the Cash Receipts Office (CRO) immediately after you make deposit. In accordance with University policy, all income should be recognized within the same month that it was incurred.
  2. Each credit voucher should be accompanied by ONLY one deposit slip (credit vouchers containing more than one deposit slip will be returned to the department).
  3. Prior to going to the bank, verify that all checks have been properly endorsed and dated by the maker(s). 
  4. Validated deposit total must equal the deposit slip and credit voucher total. Please note that Cash Receipts will use the actual deposit amount recorded by the bank should the credit voucher and bank deposit total be differ. 
  5. If CRO receives a deposit correction notice from the bank, the Cash Receipts Office will make the necessary adjustment to the GL against the original line of coding used on the credit voucher.

The deposit ticket is a 3 part document. The pink copy should be kept for the department records.  The validated yellow copy must be stapled to the back side of the credit voucher when submitted to the Cash Receipts Office.

Additional Instructions:

In the event that a check is returned from the bank unpaid, the amount of the check will be charged to the coding that your department supplied when they were initially set up to use this process.  If you did not supply a coding for CRO to use for returned checks, the coding listed on the original credit voucher will be used.  After the return has been processed, you will receive a note from Cash Receipts advising you of the return and an imaged copy (legal document) of the check.

  1. In the event that the distribution code fails validation in Oracle, the preparer of the credit voucher will be notified by a member of the Cash Receipts team requesting the correction.  Due to the daily deadline the Cash Receipt teams will need an immediate response.

a) If an immediate correction cannot be made, the Cash Receipts Office will use the Tub’s default coding to replace the invalid distribution string. The preparer will then have until the end of business day to notify Cash Receipts of the correction.

b) If Cash Receipts does not receive a response by the end of day, then the funds in question will remain in the default distribution code and the preparer must process a journal to move the funds to the appropriate account.

  1. When the last book of deposit slips is in use, please fill out the Deposit Slip Order form and email it to immediately to have new ones delivered.

If you need to make a deposit before you receive your deposit slips, please indicate your department name and Org on the deposit slip when preparing the deposit. Attach the validated deposit ticket to the back of the credit voucher and submit to CRO.  Please Note: *If the department name(s) and org are not indicated on the deposit slip and/or the corresponding credit voucher is not submitted to CRO,  we may be unable to able post income to GL.

Note:  Please contact Cash Receipts 6-8332 or with any questions or concerns regarding this process.

See also: Cash Receipts