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1 1 C ASH H ANDLING T UTORIAL Treasury Management Finance and Accounting.

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Presentation on theme: "1 1 C ASH H ANDLING T UTORIAL Treasury Management Finance and Accounting."— Presentation transcript:

1 1 1 C ASH H ANDLING T UTORIAL Treasury Management Finance and Accounting

2 2 2 Overview Receiving Cash and Checks Preparing the Deposit Movement of Funds

3 3 Receiving Cash and Checks

4 4 Flow of Cash and Checks – in person Customer UF Dept Cashier UF Dept Fiscal Person Enter into myUFL Treasury Management (TM) Cashiers Bank (endorsed) Merchant Copy Supporting Docs Merchant Copy Customer copy

5 5 Flow of Cash and Checks – by mail UF Dept Cashier UF Dept Fiscal Person Enter into myUFL TM Cashiers Bank (endorsed) copy Supporting Docs copy Customer LOGS

6 6 Cash and Checks – Handling Payment must be receipted – Cash register or Uniform Cash Receipt (UCR) Review the check for accuracy Endorse checks Customer UF Dept Cashier Customer pays department – in person

7 7 Cash and Checks – Handling UCR = Uniform Cash Receipts Must be used if cash or checks are received in person, unless a cash register or other validated receipting system is in place

8 8 Cash and Checks – Handling UCR = Uniform Cash Receipts (continued) Three ply carbon copies: –Golden – goes to the customer –White – stays with the department –Blue – submitted with the deposit to TM For voided receipts: –Golden and White – stays with department –Blue – submitted with next deposit

9 9 Contact Treasury Management to obtain new UCR books or return unused UCRs Treasury Management Criser Hall, Room S112C 392-9057 UCR s Cash and Checks – Handling

10 10 Also contact Treasury Management (in advance) whenever a cash register is removed or installed so that proper disposition of locked-in totals and reset keys is made Cash and Checks – Handling

11 11 Checks should be payable to University of Florida (or the department name as indicated on endorsement stamp) If check is made payable to an individual, –That person must endorse the back of the check with “Payable to UF” Checks must be payable in US Dollars Cash and Checks – Handling

12 12 Ensure that the amount in long hand agrees to the amount in numbers (long hand amount is legal amount) Ensure that the check is signed Cash and Checks – Handling

13 13 For Deposit Only Wachovia Bank University of Florida Board of Trustees Department Name Dept BU Number (opt) All checks must be restrictively endorsed immediately upon receipt Departments must order their own stamps from office supplier: Cash and Checks – Handling Wachovia transition to Wells Fargo Departments can continue to use existing Wachovia stamps indefinitely – new stamps should state Wells Fargo Bank, N.A.

14 14 Cash and Checks – Handling –A check log (mail log) should be prepared by the person opening the mail. NOTE A UCR may be used in lieu of a check log when checks are received infrequently. UF Dept Cashier Customer LOGS If checks are received through the mail:

15 15 If a check log is used, it must be maintained as each check is received, and should provide: Cash and Checks – Handling

16 16 Check logs provide the most control when they are pre-numbered, handwritten, and signed off by the person who logged the check, and the person who made the deposit: Cash and Checks – Handling

17 17 Cash & Checks: Preparing the Deposit

18 18 Preparing your deposit for TM Deposit Pieces – please submit in this order Cash/Checks Adding Machine Tape Deposit Transmittal Form Support Documentation Form Receipt – cash register or UCR

19 19 Adding Machine Tape Preparing Deposit Adding Machine Tape Add checks or cash Ensures accuracy of deposit and helps to identify amount discrepancies

20 20 Deposit Transmittal Form

21 21 Support Documentation Preparing Deposit Support Documentation Support Documentation for Deposit Transmittal Form must be attached Department is responsible for full disclosure of pertinent information concerning the deposit Disclose any other data necessary for proper identification relative to the department’s records

22 22 Maxine Word 02/04/2010 352-392-9057 Treasury Management 6400 1234 G 123456 G 123459 02/01/2010 02/04/2010 1,000,000,000.00 NONE

23 23 778 13-29 02/01/201002/04/2010

24 24 Cash Register Tape/UCR Preparing Deposit Cash Register Tape/UCR

25 25 Cash & Checks: Movement of Funds

26 26 Movement of Funds Each department is responsible for the conveyance of their collections to Treasury Management

27 27 Departments must provide adequate protection whenever cash is moved between buildings. Money must be carried IN PERSON (NO campus mail!) Locked bags must be used to transport paper and coin currency Armored courier service available (for a fee) Security Movement of Funds Security

28 28 Special Situations Movement of Funds Special Situations Large concerts and other productions should make security arrangements directly with: –University Police, 392-1111 and –University Cashier, 392-0185

29 29 Take the money to TM/Cashiering Located at S-113 Criser Hall –Drop box Emptied at 8:00 a.m. –Over the counter No later than 10:30 a.m. –Monday - Friday To Treasury Management Movement of Funds To Treasury Management All deposits received in the drop box after 8:00 am will be processed the next business day. N OTE

30 30 Over the counter deposits Between 8:30 and 10:30 Monday-Friday Must complete a Consignment Sheet (receipt to evidence transfer from department to Treasury Management) Sample Consignment Sheet can be found at or two-ply Consignment Sheets can be purchased To Treasury Management Movement of Funds To Treasury Management

31 31 To Treasury Management Movement of Funds To Treasury Management Complete the form and bring TWO copies to Treasury Management Both copies are signed by the department and Treasury Management One is for department and one is for Treasury Management

32 32 UCR and/or Cash Register Tape Support Documentation Form Deposit Transmittal Form Cash Deposit Summary Adding Machine Tape

33 33 Ready for Deposit Cash Deposit Summary

34 34 C ASH H ANDLING T UTORIAL Treasury Management Finance and Accounting Thank you for viewing this

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