Bank Deposits and Cash Receipts

Monies may be received by a reporting unit for many reasons: sales revenue, miscellaneous income, payments for a workshop, conference fees or reimbursement of expenses, etc. All payments need to be receipted, prepared for bank deposit, and sent to the Controller's Office for validation and delivery to the bank.

Note: Monies received representing gifts should be delivered to University Advancement Office NOT the Controller's Office

  1. Deposits must be properly prepared by the reporting unit before they are brought to the Controller's Office for processing. Improperly prepared deposits will be returned, without exception. If you are unclear about how to prepare a deposit, please contact the Controller's Office at (206) 296-6292 prior to bringing the deposit.
  2. Cash Receipt forms must be filled out completely and accurately, and should include the following: fund number, reporting unit number, and account number (17-digit authorized general ledger account numbers). You must write a brief description of the payment (limit 25 characters)(e.g., "long distance") or the payee's name on the adjacent line in the "Source of Payment" section. Under "For Reporting Unit Use Only," please enter your reporting unit name, your name + phone extension and the date. Also, check the appropriate box for the type(s) of payment you are preparing - that is, "check, cash, or credit card." Be sure to indicate the total amount of your cash receipt. Please use ballpoint pens, not felt/soft tip pens, for all deposit paperwork.
  3. Deposits must be hand-delivered to a cashier at the Controller's Office. You must be present while your deposit is being processed, with the exception being credit card (MasterCard and/or Visa) deposits. Credit card deposits may be left with a cashier and picked up within a day or two. To ensure the security of your deposit, PLEASE DO NOT LEAVE DEPOSITS in the "IN BASKET" at the reception desk.
  4. Deposits are to be made on a DAILY (inside deposits) basis or, at the minimum, on a WEEKLY (outside deposits) basis to ensure the security of the deposit for which you are responsible. Checks dated 120 days past the deposit date and/or which are incompletely filled out, cannot be accepted for deposit.
  5. Deposits are to be presented to the Controller's Office between 9:30 a.m. and 11:30 a.m. or 1:30 p.m. and 3:30 p.m. After 3:30 p.m. staff will be unable to process your deposit. If you have not made your deposit at the Controller's Office by 3:30 p.m., it is extremely important that you have a secure place for the overnight holding of your deposit.
  6. The Controller's Office strongly recommends that a bondable Seattle University employee deliver the deposit. (Bondable is defined as a permanent, FT staff member). If a non-bondable employee delivers the deposit, then that reporting unit assumes all risks incurred, including non-delivery of funds.
  7. If an unusual situation requires a procedural exception, request prior approval from the Controller's Office by calling (206) 296-6292 or 5876

Procedures

These procedures were developed by the Controller's Office to ensure the timely processing of your deposit, as well as to protect the integrity of our accounting system. There are two types of procedures depending on the size of your deposit:

  1. Inside Deposits (credit card payments, less than ten pieces of coin, less than ten pieces of paper currency, and less than ten checks) should be brought to the Controller's Office on a daily basis. If the deposit is cash and/or checks, you must be present while it is being processed. Credit card deposits should list one individual customer per Cash Receipt.
  2. Outside Deposits (ten or more pieces of coin, ten or more pieces of paper currency, and ten or more checks) should be brought to the Controller's Office, at the minimum, on a weekly basis. You must be present while the deposit is being processed.

Review the monthly budget reports provided to you by the Controller's Office. In order to catch posting errors to any account (budget, restricted, etc.), each reporting unit must keep its own records and verify corrections against the monthly budget reports.

Inside Deposits for Cash and/or Checks

Less than 10 coins, 10 pieces of paper currency, 10 checks.

Materials needed to process: Seattle U. Cash Receipt form, cash and/or checks.
Prepare one (or more) Seattle University Cash Receipt forms. These deposits may combine cash and/or checks on one Cash Receipt. Fill out the form completely. List the 17-digit authorized general ledger account numbers. This number must be accurate by fund number, reporting unit number, and account number. Write the customer's name on the top line of the "Source of Payment" section of the form; a brief description of the payment may be listed below the customer's name (e.g., "John Doe" on top line, "long distance phone calls" on second line).

For cash and/or check deposits, you must witness the cashier processing the receipt(s). All checks must be endorsed with a Seattle University endorsement stamp which includes your reporting unit's name. If you do not have a stamp, contact your Finance Manager to order one at the Bookstore.

Inside Deposits for Credit Card Payments

(MasterCard and Visa only). Materials needed to process: Seattle U. Cash Receipt form, MasterCard or Visa credit card number, expiration date (month/year).
Prepare a separate Seattle University Cash Receipt form for each individual customer. Fill out the form completely and accurately. List the appropriate fund number, reporting unit number, and account number. Write the customer's name on the top line of "Source of Payment" section; list the entire credit card number and expiration date (month/year) under the customer's name. Credit card deposits may be left at the Controller's Office window and picked up within one or two days.

Outside Deposits for Cash or Checks

10 or more checks, 10 or more coins*, or 10 or more pieces of paper currency.

Materials needed to process: Seattle U. Cash Receipt form, bank deposit slip, plastic bank deposit bag, (and adding machine tape for check deposits).

Outside deposits may consist of coin, cash or checks. *Coin deposits in plastic bags must not exceed five pounds. All checks must be endorsed with a Seattle University endorsement stamp, which includes your reporting unit name. If you do not have a stamp, contact your Finance Manager to order one.

On the outside of the plastic bank deposit bag (both on the top strip of the bag, and also on the main body of the bag) include the following information; disregard the instructions printed on the bag:

  • The date the deposit was prepared.
  • The name of the reporting unit making the deposit.
  • The amount of the deposit and whether it's cash or checks.
  • The name of the person preparing the deposit.

Prepare a bank deposit slip. The deposit slip should include the amount of the deposit, the date, your reporting unit name, your name, and say "cash" or "checks". If the deposit is currency mixed with coin, list the total amounts of the currency and coin separately on the corresponding lines at the top of the bank deposit slip. Put the white copy into the bank deposit bag. The yellow copy will be given to the cashier. Cash deposits do not require adding machine tapes.

If your deposit consists of checks, you must run two adding machine tapes: one to be included in the bank deposit bag with the checks and the white copy of the bank deposit slip; the other adding machine tape should be stapled to the yellow copy of the bank deposit slip. If you do not have an adding machine, contact your Finance Manager to order one. Remove the plastic strip at the top of the bank deposit bag and staple it to the yellow copy of the bank deposit slip. Remove all paper clips and small rubber bands from currency prior to bagging.

Prepare a Cash Receipt form listing the 17-digit authorized general ledger account number. Be sure that this number is accurate by fund number, reporting unit number, and account number. You should also include a brief description on the Cash Receipt (e.g., "Ecumenical Retreat"). Under "For Reporting Unit Use Only," please enter your reporting unit name, your name + phone extension, and the date of the deposit. Also, check the appropriate box(es) for the type(s) of payments you are depositing, that is "checks and/or cash."

You may use one Cash Receipt form to list a deposit which includes two bags: one bag of checks and one bag of cash. The total of the Cash Receipt must equal the totals of the bags. Do not fill the deposit bag to the extent that it is in danger of breaking. If the deposit bags are not filled safely, you will be asked to re-bag them.

Outside Deposits for Large Amounts of Coin

Materials needed to process: Seattle U. Cash Receipt form, Bank deposit slip, Controller's Cash count sheet and plastic bag(s) .

Bagged deposits prepared to "Fed Standards" are listed as follows:

  • Quarters $500.00
  • Dimes $250.00
  • Nickels $100.00
  • Pennies $25.00

Prepare a Seattle U. Cash Receipt form, listing the 17-digit authorized general ledger account number. Be sure that this number is accurate for fund number, reporting unit number, and account number. Include a brief description of the deposit in the "Source of Payment" section of the Cash Receipt. Take the deposit to a Cashier at the Controller's Office. Witness the cashier verifies the amount of the Bank Deposit slip against the Cash Receipt.

Prepare a Bank Deposit slip(s) with date, amount of the coin deposit and your reporting unit name (below the $ total of your deposit). The white copy (original) of the deposit slip should remain inside the bag. The yellow copy of the slip will be given to the Cashier. Before sealing the bag(s), make sure that the white copy of the Bank Deposit slip and the cash count sheet are in the plastic deposit bag(s). Attach the plastic strip of the deposit bag to the yellow copy of the bank deposit slip.

How to Order Supplies

  • Adding machine and tape
    Contact your Finance Manager.
  • Bank deposit books (slips)
    Provided by the Controller's Office
  • Controller's Cash Count Sheet
    Available at the Controller's Office
  • Credit card sales slips
    Provided by the Controller's Office
  • Endorsement stamp
    Contact your Finance Manager to order one at the Bookstore.
  • Plastic bags
    Provided by the Controller's Office
  • Seattle U. Cash Receipt forms
    Provided by the Controller's Office (distributed in blocks of 100)

If you need a quantity greater than five of any of the supply items provided by the Controller's Office, please call extension #6292 three to four days ahead.