COLLECTION OF CASH
1. Maintain a written record of all cash collected by mail or over-the-counter by using a receipt book obtained from the Business
Office.Prior to collecting any money, contact the Controller to establish an appropriate method for recording all monies collected.
2. Make entries into the collection records (receipt books) immediately as monies are received by mail or over-the-counter.
3. As money is collected over-the-counter, give each customer a receipt.
4. When accepting checks as payment over-the-counter or by mail, be sure to endorse the checks with the University’s “For Deposit
Only” stamp immediately upon receipt.
5. When accepting checks over-the-counter, be sure to examine appropriate identification of the maker of the check and record the
necessary information on the check in accordance with the Business Office directives.(See Check Handling Procedures).
6. When using receipt books to record collection of money, be sure to follow these additional procedures:
a. Provide a complete receipt for each customer from whom money has been received over-the-counter or by mail.
b. Use the receipts in sequence.
c. Line out any errors and initial the correction made.
d. If voiding a receipt is necessary, keep all copies of the voided receipt in the receipt book.
e. Limit access to the receipt books to those persons authorized to issue receipts.