PST021 Making Deposits in myUFL

1. PST021Making Deposits in myUFL

2. IntroductionHousekeeping • Sign-in roster available later – get credit! • Restrooms • Cell phones, pagers, text messaging, IM • Email – Wait until break to check • Break • Questions: The only bad one is the one not asked HRS HSC

3. WHAT’S THIS? This icon on a presentation slide points you to the page number in your Study Guide where you can find the content you’re viewing in the PowerPoint presentation. IntroductionCourse Materials • Handout: Study Guide

4. IntroductionOverview • What this class will cover: • The mission and responsibilities of Treasury Management (TM) • How money is received and flows through UF • Proper money handling procedures and other security concerns • Making deposits in myUFL

5. IntroductionOverview • What this class will cover: • Submitting a deposit to TM • Processing expense refunds • Making corrections to deposits • Other miscellaneous items

6. IntroductionOverview • What this class will NOT cover: • Basic ChartField information (http://hr.ufl.edu/training/myUFL/toolkits/chartfields.asp) • Sales between UF departments (done via E2R) • Billing module

7. Treasury Management 5 Who are they and what do they do all day?

8. Treasury Management Mission of Treasury Management (TM) “Treasury Management ensures that UF’s liquid assets are on hand when needed, invested well when not needed, and accounted for accurately in order to maintain UF’s financial stability and public integrity.”

9. Treasury Management Units To effectively support its mission, the Office of Treasury Management is composed of five individual, yet collaborative, units each dedicated to managing specific financial processes.

10. Cashiering

11. Deposit Control

12. Credit Cards

13. Investments & Cash Mgmt

14. Bank Reconcilers

15. Why Are You Depositing Money? Money is owed to UF in exchange for: • Services (lab services, classes, fees) • Products (books, tickets, parking passes) • Cash expense refunds (reimbursements, refunds)

16. Tender Types Money can be deposited in the following types: Cash & Checks Credit Cards EFT/ACH/Wire

17. Any Questions?

18. Making DepositsCash and Checks

19. 6 Cash and Checks – Flow of Money Enter into myUFL Customer (endorsed) UF Dept Cashier Customercopy MerchantCopy UF Dept Fiscal Person Supporting Docs MerchantCopy Treasury Management (TM) Cashiers Bank

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

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

22. 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

23. 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

24. UCRs Cash and Checks – Handling • Contact Treasury Management to obtain new UCR books or return unused UCRs • Treasury Management Criser Hall, Room S112C • 392-9057 • tmhelp@admin.ufl.edu

25. Cash and Checks – Handling • 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

26. Cash and Checks – Handling • 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

27. Cash and Checks – Handling • 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

28. For Deposit OnlyWachovia BankUniversity of FloridaBoard of TrusteesDepartment NameDept BU Number (opt) Cash and Checks – Handling • All checks must be restrictively endorsed immediately upon receipt • Departments must order their own stamps from office supplier:

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

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

31. Cash and Checks – Handling • 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:

32. Cash and Checks – Handling • Department cashier to fiscal person • Any time money changes hands, it should be “receipted” (initials on log, receipts, etc.) • Checks restrictively endorsed • Copy of log/UCR (endorsed) UF Dept Cashier copy UF Dept Fiscal Person

33. Cash and Checks – Handling • Department Fiscal person to TM Cashiers • - Make deposits quickly • - Keep checks secure copy Supporting Docs UF Dept Fiscal Person TM Cashiers

34. Cash and Checks – Handling • Deposit the cash and checks QUICKLY • If total deposit more than $500, must deposit next business day • No less than weekly, regardless of amount • Keep check information secure • Be careful with check copies • Never email copies of checks or store electronically

35. Cash and Checks – Entering Deposits 7 Within myUFL - Cash and Check Particulars: • Accounting Date – Will be the date received by TM and sent to the bank • Bank Account: UFV (or CONC for Jax) • Deposit Type: S=Cash or K=Checks • Make separate deposits for cash and checks

36. Cash and Checks – Entering Deposits Within myUFL - Sequences • You can break out a deposit into separate sequences • Usually done to list checks individually or to break a deposit into different categories (books, t-shirts, fees) • Generally determined by department

37. Cash and Checks – Entering Deposits Within myUFL - Lines • You can break a sequence into separate lines • Done when a deposit must be divided among more than one ChartField string (i.e., to record sales tax)

38. Scenario: Book Sales • You sell books and collect: • - Cash......... $1,000.00 • - Check....... $100.00 • - Check....... $300.00 Cash and Checks – Entering Deposits

39. Cash and Checks – Entering Deposits After the UF Cashier receipts or logs as necessary, the cash/endorsed checks and UCR/log are given to the UF Fiscal Person who will enter the information into myUFL UF Dept Cashier (endorsed) copy UF Dept Fiscal Person

40. Any Questions?

41. Cash & Checks:Record Deposit

42. Cash and Checks – Entering Deposits •  In myUFL, we must: 1. Record Deposit 2. Create Accounting Entry 3. Print Deposit Transmittal Form

43. Select Add a New Value to begin a new Deposit Cash and Checks Record Deposit 26 Navigation: Accounts Receivable  Payments  Online Payments  Regular Deposit You may use Find an Existing Value to see previous deposits if deposit does not have an accounting entry.

44. Enter the Deposit Unit Deposit IDshould be NEXT – the ID will be assigned by PeopleSoft Click: Add Cash and Checks Record Deposit

45. Cash and Checks Record Deposit The Totals tab contains basic information about the deposit – the date, tender type, amount, and number of sequences

46. Cash and Checks Record Deposit Accounting Date defaults to the next business day

47. Bank Code will always default to WACH (Wachovia) Cash and Checks Record Deposit

48. Bank Account CC = Credit Card deposits EFT = EFT/ACH and wire deposits UFV = Cash and Check deposits UFV (UF Vault) should be used for all cash and checks processed by Treasury Management. Cash and Checks Record Deposit

49. Deposit Types are tender types. Enter the Deposit Type Cash and Checks Record Deposit

50. Count is the number of sequences for the deposit Cash: usually 1 Checks: may be total number of checks Control Total Amount is the total amount of the deposit Cash and Checks Record Deposit