Receipts-Processing

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Receipts-Processing

Scope

This procedure covers processing receipts for invoiced transactions.

This procedure does not cover applying receipts.

Refer to Receipts-Entering and Applying.

System References

Receipts-Using QuickCash

Receipts-Entering and Applying

Policy

Only the remote departments authorized to make deposits may use the QuickCash method to process receipts.

Responsibility

The Billing Specialist is responsible for:

creating deposit tickets
making the deposits
entering receipts into IS using QuickCash

The AR Receipts Specialist is responsible for running Post QuickCash and applying the receipts.

Distribution

AR Administrator^*

AR Billing Specialist-Remote^*

AR Manager^*

Ownership

The AR Manager is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Activity Preface

This activity is performed whenever a receipt is received by Accounts Receivable or in the departments.

The job title Receipts Processor refers to the following:

AR Administrator
AR Manager
AR Billing Specialist-Remote

Receipts Processor

1. Receive receipts from customers.

Receipts may be received through U.S. mail or hand delivered.

If you are Accounts Receivable staff, goto task #2. Otherwise, goto task #12.

2. Receive Cash Receipts Log and all cash receipts from the AR Mail Processor or from departments not authorized to make bank deposits.

3. Verify that all receipts are properly endorsed "for deposit only."

4. Complete a bank deposit slip from the cash receipts.

5. Compare the total on the bank deposit slip with the total on the Cash Receipts Log.

6. Resolve any discrepancies with the AR Mail Processor who processed the mail.

7. Deposit the cash receipts at the bank.

The cash receipts must be accompanied by the original deposit slip.

8. Prepare one copy of the deposit slip and one copy of the Cash Receipts Log.

9. Attach the stamped copy of the deposit slip to the Cash Receipts Log.

10. File the Cash Receipts Log and stamped deposit slip in the bank deposit file, sequenced by date.

11. Forward the copy of the deposit slip and the Cash Receipts Log to the AR Receipts Specialist responsible for receipt application.

End of activity.

Goto Receipts-Entering and Applying.

12. Certain departments have authorization to make bank deposits and to use QuickCash.

If you are authorized to make bank deposits and to use QuickCash, goto task #13. Otherwise, goto task #18.

13. Log receipts.

14. Create deposit ticket.

15. Make deposit.

16. Enter receipts into IS using QuickCash.

Refer to Receipts-Using Quick Cash.

Accounts Receivable will run the Post QuickCash program to apply the receipts.

17. Send a copy of the deposit ticket to Accounts Receivable.

Send the email the same day as the receipts are entered into QuickCash.

End of activity.

18. Log receipts in form.

19. File copy of form for reference.

20. Send receipts and original form to Accounts Receivable.

End of activity.

Effective: 08/13/04

Revision: 2