These guidelines are provided to assist departments with the receipting and depositing processes to meet their requirements, while complying with University and State policies and procedures.
Departments must use pre-numbered, official WCU receipt books when taking payments from customers/participants. The Cashier's Office maintains a log of all receipt books issued to each department. Departments must maintain the location of the receipt book at all times.
Instructions for Using Campus Receipt Books
- Receipt books are issued by the University Cashiers in the Controller's Office in 317 HFR Administration Building. Departmental employees are required to sign a form indicating that they have assumed full responsibility and/or accountability for the receipt book.
- Receipts for all funds must be written on the date they were received in the official three-part campus receipt book.
- The original receipt is given to the person from whom the money is received.
- If any funds are collected, at least one deposit must be made weekly. (See Deposit Process below.) More frequent deposits, daily if necessary, must be made at any time cumulative receipts exceed $10.00. Before removing file copies, record the date of the Daily Cash Report on the last pink and yellow receipt issued. Attach yellow receipt book copies intact to the back of the original Daily Cash Report with two copies of the adding machine tape which should total the amount of the deposit.
- When the three-part campus receipt book is filled, the project for which collecting receipts is over, or the responsibility for the receipts is transferred to another person, the receipt book should be turned in to the Controller's Office to release the departmental employee from the responsibility for the receipt book. Books are not to be held unless they are being used on a regular basis.
- Departmental employees should be prepared for an audit by an internal auditor at all times.
- Receipts should not be altered. If an error is made, all three copies of the receipt must be voided and the white copy stapled to the pink copy. The voided yellow receipt should be put in with the deposit to be kept on file in the Controller's Office. DO NOT DESTROY ANY PORTION OF A VOIDED RECEIPT.
- Complete the Daily Cash Report.
- Any checks received must be stamped with WCU's endorsement before submitting the deposit to the University Cashier (if an endorsement stamp has been purchased).
- Any checks received must also be scanned (front side only), saving the file to the H drive in the Reconstruction folder for your department. The completed deposit slip should be included in the scan.
- Put the depositor's name and phone number on the deposit slip.
- A second employee should recount and verify the deposit and initial the deposit slip verifying that the total of cash and checks in the deposit is equal to the total amount on the Daily Cash Report.
- A separate Daily Cash Report must be prepared for credit cards. Mastercard, VISA and Discover may be reported on one Daily Cash Report. American Express must be reported on a separate Daily Cash Report.
- Departments will take their deposits to the cashier counter in 317 HFR. They will complete a Deposit Log for cash deposits. Deposits will be processed between 1:00 p.m. and 5:00 p.m.
Reconciliation should be performed prior to depositing with the University Cashiers as follows:
|Total amount from receipt book transactions to deposit||$__________|
|Total amount from WCU Daily Cash Report||$__________|
|Total amount of cash/checks/credit cards counted for deposit|
|Cash $__________ Checks $__________ Credit Cards $__________||$__________|
|(A) (B) (C)||
The total of the receipt book transactions should be the same as the total on the WCU Daily Cash Report which should also match the amount of the deposit. When these amounts do not agree, they must be researched and corrected prior to depositing the funds. Missing payments must be reported to the Controller’s Office and University Police.
Daily Cash Report Instructions
Daily Cash Reports must be completed and turned in with the deposit at the Controller’s Office in 317 HFR Administration Building between 1:00 p.m. and 5:00 p.m.. Please contact Janet Cabe at 227-2736 if you have questions.