Cash receipts

Process narrative

Mail received in the mailroom is delivered to UCOP departments by Mail Services. Mail that cannot be recognized as belonging to a specific UCOP department is delivered to and opened by Financial Management. Any checks are delivered to Doris Wildeman, UCOP General Accounting, for investigation and handling.

  1. Staff in departments that receive checks complete a Miscellaneous Receipts (MRF) deposit form, listing the checks, amounts, and the account/fund to be credited. The MRF form also shows the total amount to be deposited.

    The Office of Technology Transfer (OTT), Agriculture and Natural Resources (ANR), and the Office of Loan Programs (OLP) have their own bank accounts. Staff in the department endorses the check which indicates (1) deposit only to an account of The Regents of the University of California and (2) the specific bank account number. All other checks are deposited in the University’s main depository account.

  2. Checks received in UCOP departments are generally hand-delivered to the main cashier in the Business Resource Center (BRC) for deposit to the bank. The main cashier:

    • receives the MRF form prepared by the department,
    • verifies the checks received,
    • runs a total of the checks to ensure the total agrees to the total on the MRF form,
    • signs the MRF form to acknowledge the hand-off of responsibilities,
    • obtains the deliverer’s signature on a Cash Received log and counter-signs,
    • stamps the back of any unendorsed checks for deposit to the University’s main depository account, and
    • keeps the checks organized by the bank account to which they are to be deposited in a locked secure location.
  3. Deposits are made mid-afternoon using a Remote Deposit System (RDS) installed on the main cashier’s computer. The system allows the main cashier to make deposits directly to the bank by scanning the checks from the workstation. The checks are read electronically and posted as deposits to the designated account.

    Using the RDS, the main cashier:

    • selects the number of the bank account to which the deposit is to be made,
    • enters a control total which represents the total on the MRF form (there will be a one to one correspondence between a MRF form and a deposit amount), then
    • puts the checks through the RDS scanner.
  4. If all checks are read accurately by RDS, the control total and the deposit total should agree. If not, the main cashier may need to manually enter the amount of one or more checks. The deposit cannot be processed unless the control total agrees to the total of the scanned checks. Checks denominated in foreign currency amounts are given special handling. These checks cannot be deposited through RDS and must be sent via Federal Express to Terry Peach at the Bank of America for currency conversion and deposit.

  5. After the deposit has been made, the main cashier prints two copies of the RDS deposit report that includes images of each check scanned and deposited.

  6. One copy of the RDS deposit report is used by a second cashier to verify that each of the day’s receipts has been deposited (agrees the RDS deposit report to the Cash Received Log) and initials each line of the Cash Received log.

  7. The other copy of the RDS deposit reports and MRF forms for the separate accounts deposited to by OTT, ANR, and OLP are sent to the respective departments. The RDS deposit report, along with the MRF forms, for the deposits made to the University’s main depository account is sent to Jennifer Ha in Endowments. Jennifer is responsible for preparing journals to credit the appropriate account/funds as reflected on the MRF forms.

  8. One copy of the RDS deposit report, along with the MRF forms, and the original checks are secured in a safe and retained by the main cashier for 21 days. The checks are retained in case there is an issue with the deposit or the bank needs the original check for some other purpose. After 21 days, a second cashier shreds the original checks and initials each of the corresponding lines of the Cash Received log. All activity associated with the reconciliation of the bank accounts is done outside of the BRC.