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 Department Deposits

 

  • All monies received must be recorded accurately and on a timely basis.
  • Maintain appropriate receipt records.
  • All monies received must be deposited in full, on a daily basis to Customer Account Services.
    • Exception: departments with incidental amounts of cash or checks (less than $500) must be deposited at least weekly.

NDSU's complete university policy on receipting department monies.

There are specific guidelines when receipting monies perceived as "gifts" to the University. Please refer to Deposits of Incoming Monies by NDSU Departments for information on determining how to deposit these funds.

Departmental Controls

Departments should ensure that appropriate controls are in place to protect against fraud or the perception of fraud.

  • Receipting duties should be segregated so that no one employee has complete control of the process.
    • This includes initiating the charge, accepting and receipting the funds, preparing the deposit and reconciling the deposit.
  • A strong control method is to have one employee process the receipting and deposit preparation for cash and checks and another employee perform the reconciliation of the deposit.
  • Please contact Customer Account Services to discuss options for creating control procedures.
Deposit Procedures
  • Example of Department Deposit and Reconciliation Procedures.
  • For deposits of cash and/or checks use the Department Deposit Form.
  • Credit card transactions should not be placed on the same department deposit form as cash or checks.
    • More information on accepting credit cards
  • Ensure that proper contact information is provided on the deposit form in case questions pertaining to the deposit arise.
  • Customer Account Services endeavors to process all deposits on the day they are received, however depending on volume some deposits may not be processed until the following business day. To help to ensure processing on the same day please submit deposits prior to 2:00 p.m.
  • All deposits require a six-digit account number, a four-digit department number and a five-digit fund number.
    • They may also include program numbers.
    • All department numbers in the 7000 range require a program number.
    • Departments are NOT allowed to deposit into appropriated, 30000 level funds.
    • Our office does NOT deposit into 40000 level funds. These are Grants & Contracts controlled funds and require special permission as well as additional chartfield information.
  • Contact Customer Account Services if you have any questions regarding department deposits.

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North Dakota State University
Phone: +1 (701) 231-8782 / Fax: (701) 231-9541
Campus address: Ceres Hall 302
Physical/delivery address: 1301 Administration Ave., Fargo, ND 58102
Mailing address: NDSU Dept. 3110 / PO Box 6050 / Fargo, ND 58108-6050
Page manager: Customer Account Services

Last Updated: Tuesday, May 13, 2014 3:21:56 PM