Policies & Procedures Manual - Elizabeth City State University

400.3.1.19Adopted: 06/14/05ELIZABETH CITY STATE UNIVERSITYReceipting and Depositing Funds1. When funds are received, notification is sent from Accounting indicating the appropriateaccounts in which the funds should he deposited.2. All personal checks from students must be approved by the Controller or his designee. Papertransactions (i.e. wire transfers) are accompanied by a general ledger activity number fromthe Accounting Office.NOTE: If the receipts are checks, the cashier endorses the check with a stamp.3. The cashier prepares a handwritten receipt for each transaction. The original is given to thecustomer and the copy is held in the cashier's office.4. The information from the receipt is entered into the Accounts Receivable Module.5. At day's end, the cashier tallies the receipts and initiates the daily cash analysis program in theaccounts receivable module. This program gives the cashier a grand total of daily receipts.6. If the total of hand receipts does not equal the system generated total, the hand-writtenreceipts are retallied. Daily entries may also need to be verified at this time.7. All necessary corrections are entered into the accounts receivable module.8. The cashier then prepares a deposit slip for each bank as needed. Funds are deposited bycampus security during the morning of the following business day.NOTE: If the receipts are checks, the cashier endorses the check with a stamp.