Receipts and Deposits
Revised August 25, 2016
Table of Contents
.020 Official Receipts
.030 Depositing Funds
.050 Credit Card Policy
This chapter provides guidance concerning the receipting and depositing of University funds to ensure receipts are deposited in accordance with State of Kansas laws and statutes and to ensure an accurate accounting of those receipts.
In accordance with Kansas Statutes Annotated 75-4215 all fees, tuition, and charges of any and whatsoever nature collected by any state agency shall be remitted daily to the state treasurer. This includes payment for sales of goods and services or reimbursement for specific expenditures made by the University. In summary, whenever KSU agrees orally or in writing to provide goods or services financed by University funds, reimbursement must be deposited into the appropriate account using standard receipt procedures. Funds given to support specific sponsored activities or other sponsored projects for which the donor anticipates receiving specific outcomes must be deposited into the state treasury. To comply, all university departments are to deposit funds in designated University accounts through the Division of Financial Services.
A numbered official receipt is to be prepared in duplicate for each monetary receipt or gift received in person by the department or offices, unless an alternate procedure is approved by the Assistant Vice President of Division of Financial Services. Official receipt books are available at the Division of Financial Services, Cashiers and Student Accounts in 212 Anderson Hall. One copy of the receipt is to be maintained in the receipt book and the other copy is for the payer. It may be advantageous to use a cash register, validating machine or some other specialized method for issuing receipts. Whenever some other method is used other than an official receipt, approval is to be obtained from the Assistant Vice President of Division of Financial Servicesin writing.
The University employee who first receives the cash, check, credit card payment or other type of receipt is to fully complete an official receipt form applicable to the transaction. Supporting documentation for the receipt is to be retained. The original (department copy) is to be retained by the department or office receiving the money in a numerical sequence and the duplicate copy is to be given to the payer. If an official receipt needs to be voided, both copies are to be retained and kept in numerical sequence with the other receipts.
All receipts are to be deposited to the Division of Financial Services, Cashiers and Student Accounts by the next business day following receipt of the funds. Adequate information is to be shown with each deposit to identify the funds being deposited. Daily receipts less than $25 may be accumulated, but all receipts regardless of amount are to be deposited as of the last business day of each month. If a large amount of money is collected after the Cashiers and Student Accounts office closes and the department does not have an adequate place for the proper safekeeping of money, the receipts are to be delivered prior to 5:00 P.M. to room 212 Anderson Hall in a locked container or a sealed envelope for safekeeping and then picked up the next business day for processing and depositing.
Deposit information is to be completed through the University's cashiering software, CASHNet. Once entered in CASHNet, the cash, checks and/or credit batch reports must be delivered to the Cashiers and Student Accounts, 212 Anderson Hall.
All checks are to be endorsed in a uniform manner by using the following words in the arrangement and size of type shown. The endorsement is to be placed within 1 1/2" of the trailing edge of the check. The "Type of Funds" refers to either State, Local Agency or Organizational Safekeeping.
For Deposit Through
KSU Cashiers and Student Accounts
(Insert Department Name Here)
(Type of Funds)
Collections are to be deposited to the specific University account established for that type of receipt. See PPM 6030.410 for a list of the source codes (subcodes) for receipts. When a reimbursement is received because of a refund or an allowance from a previous expenditure, the reimbursement is to be deposited back into the same account and subcode from which the expenditure was made.
When authorization has been given to dispose of property, the receipts from such sales are to be deposited to the account from which the item was purchased, if known; otherwise, to the account financing the program for which the items were used, if appropriate. Items received as a gift become University (and State) property and the receipts from the sale of gift items are to be deposited to an appropriate KSU account related to the program for which the item was received or used.
The CASHNet system provides a method for KSU departments to electronically enter their deposit information for Cashiers and Student Accounts to process. This ensures that work done by the department is in balance and is allocated to the correct FRS account. Once the deposit is entered, a CASHNet deposit is created for Cashiers and Student Accounts. When the departmental representative brings the money, checks, and tapes to Cashiers and Student Accounts, the cashier will retrieve the electronic deposit, post it, and provide a receipt to the department.
The procedures currently in place regarding deposits apply to electronic deposits:
Make deposits the next business day following receipt of the money. However, small amounts of collections may be accumulated up to $25 but in all cases all receipts must be deposited as of the last business day of each month.
- Include two check tapes.
- Include one cash tape.
- Attach a CASHNet deposit summary if the deposit does not contain credit cards. Include the following information:
- your department user ID
- the deposit #
- total $ amount of deposit
- type of funds: state, local agency, safekeeping
- Attach a CASHNet deposit of credit cards summary if the deposit contain credit cards. Include the following information:
- your department user ID
- the deposit #
- $ amount of MC/Visa
- $ amount of Discover
- $ amount of American Express
- $ amount of Wildcat Card
- total $ amount of deposit
- Bank (07 for state funds, 14 for local agency, 27 for safekeeping funds)
- Include credit cards and Wildcat cards in the same deposit. Do not included more than one day's business in each deposit.
- Enter the official receipt number in the "Purpose of Deposit" field.
Correct a previous deposit (Red/Black deposit.) Prepare a separate deposit for the "red deposit" and a separate deposit for the "black deposit." The net of the two deposits should equal "zero." In the "Purpose of Deposit" field, enter the transaction # and date of the original deposit being corrected and include the word "correction."
- Enter a reimbursement deposit: enter "reimbursement" in the "Purpose of Deposit" field.
- Make a separate deposit for each uncollectible check (red deposit.) Enter "Uncoll Ck" and the individual's name in the "Purpose of Deposit" field.
The approval to accept credit card payments is obtained by making a written request to the Division of Financial Services. If approved, the department will be responsible for installing a telephone line for the credit card reader while the Division of Financial Services will assist the department with ordering all credit card readers, imprinters, and supplies and work with the department on getting it operable and defining detailed procedures. The cost of equipment will be paid by the department.
The cost of processing credit cards (Discount Fee) will be paid from departmental funds and the expenditure document will be prepared by Cashiers and Student Accounts for all campus departments.
All questions regarding receipts and deposits are to be referred to the Division of Financial Services, Cashiers and Student Accounts, at (785)532-6317.