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Administrative Procedure 8.701 Administrative Procedure 8.701



Title

Receipting and Depositing of Funds Received by the University

Header

Administrative Procedure Chapter 8, Business and Finance
Administrative Procedure AP 8.701, Receipting and Depositing of Funds Received by the University
Effective Date:  May 2019
Prior Dates Amended:  March 2016    
Responsible Office: Office of the Vice President for Budget and Finance/Chief Financial Officer
Governing Board and/or Executive Policy: EP 8.201, Cash Management and Short-Term Investment of Operating Funds
Review Date:  May 2021

I. Purpose

To establish and document the flow of University funds and to provide guidelines and procedures to effectively and efficiently manage the safeguarding, receipting, depositing, recording, and reconciling of these funds.

This policy governs the receipt of all University funds.

This procedure applies to all University personnel who handle University funds.

II. Definitions

A.    Bank Deposit Slip – a pre-numbered form used to deposit cash and checks to the University’s bank account.  Campus and departments should contact the Treasury Office to request bank deposit slips.

B.    Campus Business Office – The central business office on each campus.  The Campus Business Office may be the Business Office or the Cashier’s Office, as designated by the internal procedures of the campus. On the Manoa Campus, it is the University of Hawai‘i Cashier’s Office. 

C.    Checks – There are several categories of checks.  All of the following are handled as checks and referred to as checks in this document.

        1.  Cashier’s check – A check purchased at a bank for any amount; the bank completes all information on the face of the check and a bank officer signs as the maker.
        2.  Certified check – A personal check that is written by the account holder and then stamped and signed by a bank officer on the front of the check.
        3.  Money order – An item purchased at a bank, post office, or other business establishment for any amount up to $1,000. 
        4.  Traveler’s check – A special check supplied by banks or other companies for the use of travelers; these checks already bear the purchaser’s signature and must be countersigned and dated in the cashier’s presence.
        5.  Personal check – A written order payable on demand, drawn on a bank by a depositor; a personal check is written against an individual’s checking account as opposed to a cashier’s check, certified check, money order or traveler’s check, all of which are written against bank funds.

D.    Department Heads – Includes Administrative Services Managers, Deans, Directors, Associate Vice Chancellors, Vice Chancellors, Associate Vice Presidents and Vice Presidents.

E.    Electronic Funds Transfer (EFT) – Transfer of funds by electronic means via Automated Clearing House (ACH) or wire transfer directly to the University’s bank account.

F.    Foreign checks – Any check not drawn on a U.S. bank, or which does not  have a U.S. clearing bank listed on it, even if the check is payable in U.S. dollars.

G.    Kuali Financial System (KFS) – The University’s financial system.  All transactions related to University funds must be recorded in KFS.

H.    University funds – All money in any form, including cash (coins and bills), checks, foreign checks, wire transfers, ACH direct deposits, and credit/debit cards received by the University.

I.    University Funds Handler – All University personnel that are assigned duties related to safeguarding, receipting, depositing, recording or reconciling of University funds.

J.    University of Hawai‘i General Account (UHGA) – The University’s checking account where all University funds, regardless of source of funds, are deposited unless authorized by the Vice President for Budget and Finance/Chief Financial Officer.

III. Administrative Procedure

A.    Roles and Responsibilities

        1.  Vice President of Budget and Finance/Chief Financial Officer

              a.  Authorizes establishing federally-insured bank and savings and loan depositories which he/she considers necessary (refer to Regents Policy 8.202, Designation of Depositories, Checks, and Vouchers)

        2.  Treasury Office

              a.  Responsible for setting policies and procedures related to the handling of University funds
              b.  Responsible for general oversight of the University’s bank account; oversees the banking
                    services contracts and serves as primary contact with bank personnel
              c.  Responsible for UHGA deposit reconciliation (verification of bank transactions with KFS
                    transactions recorded)
              d.  Responsible for overseeing the University’s credit card program
              e.  Routes EFT notices to campus/departments for recording
              f.  Notifies the departments of bank corrections and adjustments, as applicable
              g.  Coordinates ordering and distributing of banking supplies such as bank deposit slips and
                    disposable bank bags

        3.  Financial Administrator (FA)

              a.  Reviews the legal authority (i.e. Hawai‘i Revised Statutes section) that permits the
                    campus/department to collect and deposit State or University receipts
              b.  Complies with minimum policies and procedures outlined below
              c.  Develops and implements any additional campus/department procedures and trains assigned
                    staff
              d.  Approves and finalizes all KFS eDocuments in timely manner; assigns delegates in KFS as
                    deemed appropriate
              e.  Obtains approval from Treasury Office for any deviation from established policies and
                    procedures

        4.  University Funds Handler

              a.  Complies with applicable policies and procedures as directed by the FA or their supervisor
              b.  Submits timely and accurate eDocuments in KFS to record receipt of University funds

        5.  Department Heads

              a.  Assist in resolving any issues of non-compliance by department staff with procedures outlined
                    below

B.    General Guidelines

        1.  Internal Controls

              a.  Segregation of duties is a crucial internal control to safeguard assets.  No one person should be
                    responsible for the entire cash receipt process.  The responsibilities for receipt, custody,
                    recording, and reconciling should reside with different individuals whenever possible.
              b.  The following responsibilities should be distributed to at least two persons so no one person is
                    responsible for all aspects.  At a minimum, the reconciliation process should be performed by
                    someone independent of the receipt and deposit function.
                    -  Opening mail
                    -  Endorsing checks
                    -  Cashier operations (i.e. receiving cash)
                    -  Preparing deposits
                    -  Recording
                    -  Reconciling
              c.  Campus departments shall periodically remind all personnel to keep the business office
                    informed of any new cash collection points to ensure internal control requirements are met.
              d.  The legal authority that permits the campus/department to collect funds should be reviewed
                    before undertaking any new cash receipt activity.
              e.  Restrict access to safes, locked cabinets, credit card terminals and cash registers to authorized
                    personnel.  Authorized individuals allowed access should be documented internally by
                    department management.  Documentation should include the effective date of any changes

        2.    Foreign Receipts

              a.  The University shall not transact business with certain foreign countries.  The Office of Foreign
                    Asset Control (OFAC) under the U.S. Department of Treasury publishes a list of foreign
                    countries, government entities, companies, and individuals that are prohibited from doing
                    business with the U.S.  The link to this website is: http://www.treasury.gov/resource-center
                    /sanctions/Pages/default.aspx.
              b.  Foreign checks require special handling and may require the bank’s international banking
                    division for exchange and collection.  Since fees are assessed to collect on a foreign check,
                    acceptance of foreign checks are discouraged.  Contact the Treasury Office for any banking
                    restrictions that may apply.
              c.  The University does not accept foreign personal checks.
              d.  Contact the Treasury Office for assistance on alternatives that may be available for foreign
                      receipts.

        3.    Restrictions

              a.  University funds shall not be commingled with personal or private funds.
              b.  All University checks and legal tender  (e.g. money orders, bank drafts, cashier’s checks,
                    traveler’s checks) must be made payable to the University of Hawaii or applicable University
                    campus and not  to any of it departments, offices, or individual University employees.  The
                    funds collected shall be deposited into University of Hawaii General Account (UHGA).
              c.  All electronic payments shall be processed via the University’s eCommerce management system.
                    An exception may be granted by the Treasury Office if the eCommerce system cannot meet the
                    department’s business needs.  Refer to Administrative Procedure 8.710, Credit Card Program.
              d.  Funds collected on behalf of the State (i.e. service fee on dishonored checks) shall be deposited
                      to their respective KFS account and object code unless some other account is specified by the
                      Vice President for Budget & Finance/Chief Financial Officer.
              e.  Reimbursement of expenditures (REX) shall be deposited to the original account using the same
                      object code.  REX to general funds shall be recorded in the same fiscal year that funds were
                      spent.  REX received after the published fiscal year-end deadline shall be deposited to the State
                      general fund, sub-fund group code AG000, object code 082X.

C.    Cash and Checks

        1.    Safeguards

              a.  Cash and checks should never be unattended.  This applies to cash registers, desk tops, and
                    cash drawers.  If an employee leaves his or her work station for any reason, regardless of how
                    briefly, cash must be appropriately secured in a locked place.
              b.  Unauthorized persons should not be allowed in areas where cash is handled.
              c.  Large sums of cash should be counted and handled out of sight of the general public.
              d.  Departments that hold cash and checks overnight must secure the funds in some form of
                    locking device, such as a safe or locking file cabinet.
              e.  Do not send cash or unendorsed checks through interdepartmental mail.
              f.  Under no circumstance, should an individual keep University cash with their own personal
                    funds, deposit funds in a personal bank account or take University funds to one’s home for
                    safekeeping.

        2.  Receipting

              a.  Cash

                    i.  Pre-numbered receipt shall be issued for all cash receipts.  The receipts book shall be
                          maintained for supporting documentation of all cash received.  A system that generates a
                          receipt (i.e. Banner or cash register system) is deemed to meet this requirement.
                    ii.  Cash should be counted in the presence of the person presenting it for payment.
                    iii.  No foreign currency shall be accepted.
                    iv.  Cash payments greater than $10,000, from a single or two or more related transactions in
                          any 12-month period, must be reported on IRS Form 8300.  Refer to AP 8.760, IRS
                          Compliance for Reporting Cash Payments Over $10,000.
                    v.  Counterfeit Currency
                          1)  All University personnel authorized to handle cash are responsible for screening cash
                                  transactions for counterfeit currency.  It is recommended that at least all $50’s and
                                  $100’s and other denominations at random, be verified with a security pen by the
                                  cashier at the time it is received.
                          2)  If a questionable bill is received, the department shall retain possession of the bill and
                                  contact campus security immediately.  Delay the customer if possible, but if the
                                  customer decides to leave, do not try to stop him/her.  Do not return the bill to the
                                  customer.  Limit handling of the bill.  However, if the customer becomes aggressive and
                                  demands the bill back, give it back.  Maintaining personal safety is more important.
                          3)  Place the currency in an envelope and notify the U.S. Secret Service immediately at
                                  808-541-1912.  Complete the U.S. Secret Service Counterfeit Note Report before
                                  surrendering the counterfeit bill to them.  The counterfeit note report can be
                                  downloaded from https://www.secretservice.gov/investigation/ssf1604.pdf.
                            4)  Currency identified as counterfeit by the bank will be confiscated by the bank and the
                                  deposit reduced.  The department shall make an offsetting deposit with funds from the
                                  change fund.  The department shall process a Disbursement Voucher (DV) in KFS to
                                  replenish the change fund.  Detailed instructions and forms for reporting a change fund
                                  shortage can be found in A8.750, Establishment and Maintenance of Change Funds.

              b.  Checks

                      i.  A log by date of receipt shall be maintained for checks that are received and not deposited
                          by the next business day.  Information that should be included is payer name, check
                          number, check date and amount.  This log should be monitored to ensure that checks on
                          hand are safeguarded and to document that checks are deposited or returned to the maker
                          in a timely manner as identified in procedures below.
                    ii.  Conditions for acceptance of checks
                          1)  All checks shall be made payable to the “University of Hawai‘i” or applicable University
                                campus (i.e. Kaua‘i Community College) and not to any of its departments, offices or
                                individual University employee.
                          2)  Verify that the account holder’s name, address, and phone number are included on the
                                check.
                          3)  Verify that the check has a U.S. bank name listed, and that the routing number,
                                  customer’s bank account number and check number are encoded on the bottom edge of
                                  the check.
                          4)  Note the date.  Do not accept post-dated (a check with a future date) or agree to hold the
                                  check for future deposit.
                          5)  Verify that the amount written in numbers matches amount written in words.
                          6)  Endorse all checks immediately upon receipt, utilizing the standard University of Hawai‘i
                                  check endorsement stamp.
                                                                      Pay to the Order of
                                                                      University of Hawai‘i, FO ###
                                                                      0001-055569
                                                                      For Deposit Only
                      iii.  If check payment for goods and services is made in person, require some form of
                            photographic identification, such as University identification or driver’s license.  Initial the
                            face of the check to show compliance with all requirements for information and
                            identification.
                            1)  The University shall protect itself against possible loss by bad debt.  The following
                                    information should be included on all checks:
                                    -  Individual’s name
                                    -  University Identification number/Driver’s license number
                                    -  Local address and telephone number

              3.    Depositing

                      a.  All cash and check receipts shall be deposited by the next business day following receipt.
                            Exceptions are as follows:
                            i.    If it cannot be immediately determined whether a check received is a proper receipt of
                                  the University, the campus or department shall make timely efforts to contact the maker
                                  to identify the nature of the payment.  Action on unidentified checks shall be completed
                                  within 10 business days of receipt.  If it is determined that the payment is not due to the
                                  University, the check shall be promptly returned to the maker.
                            ii.  Cash and check deposits less than $500 may be deposited weekly, provided that the
                                  department has a safe or locked cabinet to safeguard the cash/checks until deposit.
                                  However, regardless of amount of cash and check deposits, all collections shall be
                                  deposited by the last working day of the week or the last working day of the month,
                                  whichever is earlier.
                            iii.  Any other exception requires approval by the Treasury Office.
                      b.  Procedures for depositing cash/check collections
                            i.    Count and total all cash and checks received.  Reconcile deposit to cash receipts book
                                  and check log.
                            ii.  Prepare bank deposit slip. 
                            iii.  Place cash and checks and bank deposit slip in a sealed disposable bank deposit bag.
                                  Request disposable bank deposit bags from the Treasury Office.
                            iv.  Departments located on the main campus shall forward the sealed bank deposit bag to
                                  the campus business office for armored car service pick-up and delivery to the bank,
                                  unless the department has secured direct armored car pick-up service.
                                  1)  It is recommended that cash deposits greater than $1,000 shall be transmitted to the
                                        campus business office via University Security Officer or that University Security
                                        Officer escort staff. Department Heads of campus/departments should determine
                                        applicable procedures, taking into account the safety of University personnel.
                                  2)  The “Transmittal Receipt” form should be prepared in triplicate and used when
                                          transmitting sealed bank deposit bags to the campus business office via University
                                          Security Officer. 
                            v.    If submission of daily deposits to the campus business office is not feasible,
                                    departments may establish an armored car service agreement for deposit pick up at
                                    their department.  If a separate armored car service agreement is not practical, satellite
                                    offices not located on the main campus authorized to deposit directly to the bank shall
                                    transmit the sealed bank deposit bag to the bank.  Written authority to make deposits
                                    directly to the bank shall be obtained from the Treasury Office.
                            vi.  Foreign checks
                                    1)  Separate foreign checks from other deposits.
                                    2)  Contact the Treasury Office for instructions to deposit any foreign check received.
                                          The procedure may vary depending on the county of origin and/or amount of check.
                                    3)  Foreign personal checks shall not be accepted.

                      c.    Procedures for deposits received after normal business hours
                              i.    Campuses and departments may utilize their own safes or locked cabinets that are
                                    accessible to secure after normal business hour receipts.  Campuses and departments
                                    should ensure that policies and procedures are documented and personnel are
                                    properly trained. 
                              ii.  If the campus/department does not have safes or locked cabinets to secure after hours
                                    receipts:
                                    1)  Mānoa campus
                                          -  One week prior to event, contact the Cashier’s Office to make arrangements to use
                                              the night depository
                                          -  At the end of the event, count and reconcile receipts, place receipts and bank
                                              deposit slip in the disposable money bag.
                                          -  Contact Department of Public Safety for escort to the night depository.
                                          -  Cashier’s Office will forward the money bag to the bank via armored car.
                                    2)  Other campuses
                                          -  Two weeks prior to the event, establish a night depository agreement with the
                                              nearest bank branch.  Contact the Treasury Office for assistance as needed.
                                          -  At the end of the event, count and reconcile receipts, place receipts and bank
                                            deposit slip in the disposable money bag.
                                          -  Deposit money bag in the night depository.
              4.  Recording

                    a.  Cash and check deposits recorded in Banner and Destiny are recorded to KFS via a daily
                          feed. No manual entries to KFS are required.
                          1)  Banner sessions should be closed and finalized at the end of each business day in order
                                  to be included in the daily feed to KFS.
                    b.  All other cash and check deposits must be recorded in KFS.  The following KFS eDocuments
                          are used to record cash and check receipts:
                          1)  Cash Control (CTRL) and Payment Application (APP) – To record accounts receivable
                                  payments
                          2)  Advance Deposit (AD) – To record non-accounts receivable payments
                    c.  The reference number on the eDocuments is the bank deposit slip number.
                    d.  Supporting documentation required to be attached to the eDocument is a copy of the bank
                          deposit slip.
                    e.  The CTRL/APP or AD eDocument are preferably entered in KFS on the same day of the
                          deposit, however, no later than three (3) working days from the date of deposit.
                    f.  The FA (or delegate) shall approve and finalize the eDocument as soon as possible, however,
                          no later than three (3) working days from the date of the eDocument submission.
                    g.  Efforts should be made to record and finalize all eDocuments for the month’s deposits by
                            month-end.
                    h.  If it cannot be immediately determined as to which account funds should be credited, the
                          KFS eDocument should be posted to a department designated account pending a final
                          determination.  The transfer to the appropriate account should be made as soon as possible
                          upon final determination and no later than ten (10) business days from the date of deposit.

              5.  Reconciling

                    a.  Reconcile deposits posted in the month with the KFS general ledger.  The review of deposit
                          variances to expected receipts should be performed to identify any receipt issues that may
                          need further investigation. 
                    b.  Financial reports should be reviewed on a monthly basis to ensure that all receipts are
                          properly credited to the correct accounts. 
                    c.  Back-up documentation such as cash receipt book and check log should be kept by the
                          department as support for their verification for reconciliation of reports with amounts
                          deposited.
                    d.  Follow up on any discrepancies and correct posting errors.  If an adjustment to the amount
                          recorded is necessary, record the positive or negative adjustment using the original
                          eDocument type.  For corrections related to account or object code, use a KFS General Error
                          Correction (GEC) eDocument or Distribution of Income and Expense (DI) eDocument.  Refer
                          to Appendix A – Processing Adjustments for KFS Deposit eDocuments.

D.    EFT

              1.  Refer to AP 8.702, Establishment of Electronic Funds Transfer Agreements and Receipt of Funds
                    for procedures to establish agreements to process EFTs with government agencies and
                    businesses.
              2.  Receipting/Depositing
                    a.  EFT payments are sent directly and posted to the University’s bank account.
                    b.  Once EFT agreements are established, campuses and departments shall notify the Treasury
                          Office of the expected EFT to ensure that the payment notifications can be identified and
                          processed without delay.
                    c.  The incoming EFT should include an invoice number, department name or contact name to
                          facilitate identification.
                    d.  The Treasury Office will fax or email the remittance notification to the receiving department. 
                          1)  For ACH transactions, the remittance notification is sent on the next business day after
                                  the transfer. 
                          2)  For wire transfers, the remittance notification is sent when the notification is received
                                  from the bank, which is generally on the day it is posted to the University’s account.
                    e.  If the remittance notification received is not for your campus or department, promptly notify
                          the Treasury Office.
                    f.  If the receiving department cannot be identified within ten (10) working days of receipt of the
                          notification, the Treasury Office may instruct the bank to return the funds to the remitter.

              3.  Recording

                    a.  EFT deposits recorded in Banner and Destiny are recorded to KFS via a daily feed.  No
                          manual entries to KFS are required.
                          1)  Banner sessions should be closed and finalized at the end of each business day in order
                                  to be included the daily feed to KFS
                    b.  All other EFT must be recorded in KFS.  The following KFS eDocuments are used to record
                          EFT receipts:
                          1)  CTRL and APP – To record accounts receivable payments
                          2)  AD – To record non-accounts receivable payments
                    c.  The reference number on the eDocument is a six-digit number provided by the Treasury
                            Office on the EFT remittance notification.
                    d.  Supporting documentation required to be attached to the eDocument is a copy of the EFT
                            remittance notification. 
                    e.  The CTRL/APP or AD eDocument are preferably entered in KFS on the same day of the
                          notification from the Treasury Office, however, no later than three (3) working days from the
                          notification date.
                    f.  The FA (or delegate) shall approve and finalize the eDocument as soon as possible, however,
                          no later than three (3) working days from the date of the eDocument submission.
                    g.  Efforts should be made to record and finalize all eDocuments for the month’s deposits by
                          month-end.
                    h.  If it cannot be immediately determined as to which account monies should be credited, the
                          KFS eDocument should be posted to a department designated account pending a final
                          determination.  The transfer to the appropriate account should be made as soon as possible
                          under final determination and no later than ten (10) business days from the date of deposit.

              4.  Reconciling

                    a.  Reconcile deposits posted in the month with the KFS general ledger.  The review of deposit
                          variances to expected receipts should be performed to identify receipt issues that may need
                          further investigation.  Financial reports should be reviewed on a monthly basis to ensure
                          that all receipts are properly credited to the correct accounts. 
                    b.  Back-up documentation such as EFT remittance notification should be kept by the
                          department as support for their verification for reconciliation of reports with amounts
                          deposited.
                    c.  Follow up on any discrepancies and correct posting errors.  If an adjustment to the amount
                          recorded is necessary, record the positive or negative adjustment using the original
                          eDocument type.  For corrections related to account or object code, use a KFS GEC or DI
                          eDocument. Refer to Appendix A – Processing Adjustments for KFS Deposit eDocuments.


E.    Credit and Debit Card Transactions

        1.  Refer to AP 8.710, Credit Card Program, for procedures related to accepting and processing of credit
              and debit card transactions.
        2.  Receipting/Deposits
              a.  Credit and debit card payments shall not be processed for more than the amount of purchase
                    and the amount entered into the payment terminal shall agree with the purchase amount.
              b.  The credit and debit card receipt shall not include the card expiration date and only has the last
                    4 digits of the card number printed on the receipt to the customer.
              c.  All in-person sales drafts shall be signed by the cardholder at the time of sale, unless exception
                    is granted by the Treasury Office.
              d.  Refunds
                    1)  Designated merchant department personnel shall review and approve applicable refunds.  A
                          second individual should approve or review the refund processed.
                    2)  Refunds for eCommerce sales must be processed through the eCommerce software
                            application
                    3)  The refund amount shall not exceed the amount of the original transaction as reflected on
                            the sales draft.
              e.  Credit and debit card payments are completed when a batch settlement is transmitted.
              f.  All credit card terminals shall be settled daily to receive credit for transactions processed.
                    Specific settlement instructions are included in the user manual provided by the Contractor.
              g.  For eCommerce sites, daily batch settlements should be scheduled to receive credit for
                      transactions processed, settled and transmitted.
              h.  All credit and debit card settlements are transmitted and posted directly to the University’s
                      bank account.  The Credit Card contractor shall credit the University’s checking account no later
                      than the next business day following the transmission.

        3.  Recording

              a.  Credit/debit card deposits recorded in Banner or in Destiny are recorded to KFS via a daily feed.
                    No manual entries to KFS are required. 
                    1)  Banner sessions should be closed and finalized at the end of each business day in order to
                          be included the daily feed to KFS
              b.  All other credit/debit card settlements must be recorded in KFS.  The following KFS eDocuments
                    are used to record cash and check receipts:
                    1)  CTRL and APP – To record accounts receivable payments
                    2)  Credit Card Receipt (CCR) – To record non-accounts receivable payments
              c.  A separate KFS eDocument should be entered and posted for each batch settled.  For
                    eCommerce transactions, this may mean that separate KFS eDocuments will be required for
                    settlements on the weekends.  Settlements on non-business days are posted to the University’s
                    account on the next business day.
              d.  If refunds exceed sales, the CCR eDocument should be prepared with a negative amount in the
                    accounting line to reflect the negative deposit amount.
              e.  The reference number on the eDocuments is the four digit KFS Merchant Location Code.  The
                    reference number on the CCR will be populated once the Credit Card Vendor Number is
                    entered.  The Vendor Number is the last eight digits of the merchant identification number.
              f.  Supporting documentation required to be attached to the eDocument is the batch settlement
                    report. 
              g.  The CTRL/APP or CCR eDocument are preferably entered in KFS on the day after the batch
                    settlement, however, no later than three (3) working days from the batch settlement date.
              h.  The FA (or delegate) shall approve and finalize the eDocument as soon as possible, however, no
                      later than three (3) working days from the date of the eDocument submission.
                i.  Efforts should be made to record and finalize all eDocuments for the month’s deposits by
                    month-end.
                j.  If it cannot be immediately determined as to which account monies should be credited, the KFS
                    eDocument should be posted to a department designated account pending a final
                    determination.
                    The transfer to the appropriate account should be made as soon as possible under fina
                  l determination and no later than ten (10) business days from the date of deposit.

        4.  Reconciling

              a.  On a monthly basis, a merchant statement will be provided by the Credit Card Contractor.
                    Campus and departments shall reconcile the daily batch settlement reports to the monthly
                    merchant statement to ensure that the merchant is properly credited.  Reconciliation should
                    also be performed to ensure that merchant fees are properly assessed.
              b.  Reconcile deposits posted in the month with the KFS general ledger. The review of deposit
                      variances to expected receipts should be performed to identify receipt issues that may need
                    further investigation. 
              c.  Financial reports should be reviewed on a monthly basis to ensure that all receipts are properly
                    credited to the correct accounts. 
              d.  Back-up documentation such as batch settlement reports should be kept by the department as
                    support for their verification for reconciliation of reports with amounts deposited.
              e.  Follow up on any discrepancies and correct posting errors.  If an adjustment to the amount
                    recorded is necessary, record the positive or negative adjustment using the original eDocument
                    type.  For corrections related to account or object code, use a KFS GEC or DI eDocument. .  Refer
                    to Appendix A – Processing Adjustments for KFS Deposit eDocuments.

IV. Delegation of Authority

There is no specific administrative delegation of authority.

V. Contact Information

    
Treasury Office, 956-8527 or uh-treasury@lists.hawaii.edu
Website:   http://www.fmo.hawaii.edu/cash_handling/index.html#tab7

VI. References

A. Link to superseded Executive Policies in old format https://www.hawaii.edu/policy/archives/ep/B. Link to Administrative Procedures in old format https://www.hawaii.edu/policy/archives/apm/sysap.php

VII. Exhibits and Appendices

Appendix A –Processing Adjustments for KFS Deposit eDocuments

Approved

    Signed    
    Kalbert Young    
    June 12, 2019    
    Date    
    Vice President for Budget and Finance/Chief Financial Officer

Topics

receipt; deposit; electronic funds transfer

Attachments