Departmental Deposits
Departments should check and confirm that deposits being submitted include the following:
A Departmental Deposit Slip (pads can be picked up at the Bursar's Office), complete with date, proper breakdown, deposit discription, complete account number (required) and signature of deopsitor. If a receipt is required by your office, please make a copy of your deposit slip, which will be stamped by the Bursar's Office after deposit amount is confirmed.
Completed deposits, along with cash, checks and credit card batches, should be forwarded to the Bursar's Office. Departments should not accept or forward any foreign currency.
Important: Cash should never be sent via Campus Mail!
Tip on handling cash:
the first person counting cash should group bills together by denomination and should ensure that all bills are right-side up and facing the same way.
Following are the specific procedures for handling incoming cash, checks, and credit card transactions. These procedures apply to all Bryant departments.
If a department receives checks via the US mail, it is important that the Bryant Post Office know where to deliver the checks. This means that the check makers must use proper and complete addresses. At present, many incoming checks are addressed only to: Bryant University, 1150 Douglas Pike, Smithfield , RI 02917. Although all checks must be payable to Bryant University , the second line of the address can indicate a department or an individual where the check should be delivered. The memo portion of the check should also indicate the department, or a description of the transaction. This information must be supplied to the payer from the department receiving the check in order to ensure proper routing once it arrives. On a personal check, the memo portion is the lower left corner of the check; on business checks, the memo portion is usually a separate sheet, often attached to the check. The more information provided, the faster the check is routed to the appropriate department.
When checks are received and are not payable to Bryant University , an authorized department designee must endorse the check(s) over to the University by hand. This is done by endorsing the check on the back , for example:
RISBC
Pay to the order of Bryant University
Please note: Endorsing should be done at the very top of the check, in order to leave sufficient room for the Bursar's Office to endorse the check.
This is a sufficient endorsement for the Bursar's Office to proceed with the deposit. Never, under any circumstances, should any additions or alterations be made to the front of a check.
All checks should be carefully examined when received by a department.
Look for the following problem areas:
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Current date (check is less than 90 days old)
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Text amount on the check agrees with numeric amount
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Check is payable to Bryant University (see above)
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Check is payable in US dollars
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Check is signed by maker
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Check amount is in compliance with any restrictions on the face of the check, e.g. amounts over $10,000 require two signature or not valid for more than $5,000.00
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Check is written on a US bank, or, if a foreign bank, that the face of the check shows that it is payable at a bank with a US address.
Credit Card Transactions
The following information is required by the Cashier's Office:
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A completed deposit slip for each credit card batch
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An attached credit card Detail Report and Settlement Report
Important: American Express should never be processed in the same batch as Visa and MasterCard!
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