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PST021 Making Deposits in myUFL. Introduction Housekeeping. Sign-in roster available later – get credit! Restrooms Cell phones, pagers, text messaging, IM Email – Wait until break to check Break Questions: The only bad one is the one not asked. HRS. HSC. W HAT’S T HIS?.

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Presentation Transcript
slide2

IntroductionHousekeeping

  • Sign-in roster available later – get credit!
  • Restrooms
  • Cell phones, pagers, text messaging, IM
  • Email – Wait until break to check
  • Break
  • Questions: The only bad one is the one not asked

HRS

HSC

slide3

WHAT’S THIS?

This icon on a presentation slide points you to the page number in your Study Guide where you can find the content you’re viewing in the PowerPoint presentation.

IntroductionCourse Materials

  • Handout: Study Guide
slide4

IntroductionOverview

  • What this class will cover:
  • The mission and responsibilities of Treasury Management (TM)
  • How money is received and flows through UF
  • Proper money handling procedures and other security concerns
  • Making deposits in myUFL
slide5

IntroductionOverview

  • What this class will cover:
  • Submitting a deposit to TM
  • Processing expense refunds
  • Making corrections to deposits
  • Other miscellaneous items
slide6

IntroductionOverview

  • What this class will NOT cover:
  • Basic ChartField information (http://hr.ufl.edu/training/myUFL/toolkits/chartfields.asp)
  • Sales between UF departments (done via E2R)
  • Billing module
slide7

Treasury Management

5

Who are they and

what do they do all day?

treasury management
Treasury Management

Mission of Treasury Management (TM)

“Treasury Management ensures that UF’s liquid assets are on hand when needed, invested well when not needed, and accounted for accurately in order to maintain UF’s financial stability and public integrity.”

treasury management units
Treasury Management Units

To effectively support its mission, the Office of Treasury Management is composed of five individual, yet collaborative, units each dedicated to managing specific financial processes.

slide15

Why Are You Depositing Money?

Money is owed to UF in exchange for:

  • Services (lab services, classes, fees)
  • Products (books, tickets, parking passes)
  • Cash expense refunds (reimbursements, refunds)
slide16

Tender Types

Money can be deposited in the following types:

Cash & Checks

Credit Cards

EFT/ACH/Wire

cash and checks flow of money

6

Cash and Checks – Flow of Money

Enter into myUFL

Customer

(endorsed)

UF Dept

Cashier

Customercopy

MerchantCopy

UF Dept

Fiscal Person

Supporting

Docs

MerchantCopy

Treasury Management (TM) Cashiers

Bank

cash and checks flow of money1
Cash and Checks – Flow of Money

Enter into myUFL

Customer

(endorsed)

UF Dept

Cashier

LOGS

copy

UF Dept

Fiscal Person

Supporting

Docs

copy

TM Cashiers

Bank

cash and checks handling
Cash and Checks – Handling

Customer pays department – in person

  • Payment must be receipted – Cash register or Uniform Cash Receipt (UCR)
  • Review the check for accuracy
  • Endorse checks

Customer

UF Dept

Cashier

cash and checks handling1
Cash and Checks – Handling

UCR = Uniform Cash Receipts

  • Must be used if cash or checks are received in person, unless a cash register or other validated receipting system is in place
cash and checks handling2
Cash and Checks – Handling

UCR = Uniform Cash Receipts (continued)

  • Three ply carbon copies:
    • Golden – goes to the customer
    • White – stays with the department
    • Blue – submitted with the deposit to TM
  • For voided receipts:
    • Golden and White – stays with department
    • Blue – submitted with next deposit
cash and checks handling3

UCRs

Cash and Checks – Handling
  • Contact Treasury Management to obtain new UCR books or return unused UCRs
  • Treasury Management Criser Hall, Room S112C
  • 392-9057
  • tmhelp@admin.ufl.edu
cash and checks handling4
Cash and Checks – Handling
  • Also contact Treasury Management (in advance) whenever a cash register is removed or installed so that proper disposition of locked-in totals and reset keys is made
cash and checks handling5
Cash and Checks – Handling
  • Checks should be payable to University of Florida (or the department name as indicated on endorsement stamp)
  • If check is made payable to an individual,
    • That person must endorse the back of the check with “Payable to UF”
    • Checks must be payable in US Dollars
cash and checks handling6
Cash and Checks – Handling
  • Ensure that the amount in long hand agrees to the amount in numbers (long hand amount is legal amount)
  • Ensure that the check is signed
cash and checks handling7

For Deposit OnlyWachovia BankUniversity of FloridaBoard of TrusteesDepartment NameDept BU Number (opt)

Cash and Checks – Handling
  • All checks must be restrictively endorsed immediately upon receipt
  • Departments must order their own stamps from office supplier:
cash and checks handling8
Cash and Checks – Handling

If checks are received through the mail:

Customer

  • A check log (mail log) should be prepared by the person opening the mail.

UF Dept

Cashier

LOGS

NOTE

A UCR may be used in lieu of a check log

when checks are received infrequently.

cash and checks handling9
Cash and Checks – Handling
  • If a check log is used, it must be maintained as each check is received, and should provide:
cash and checks handling10
Cash and Checks – Handling
  • Check logs provide the most control when they are pre-numbered, handwritten, and signed off by the person who logged the check, and the person who made the deposit:
cash and checks handling11
Cash and Checks – Handling
  • Department cashier to fiscal person
    • Any time money changes hands, it should be “receipted” (initials on log, receipts, etc.)
    • Checks restrictively endorsed
    • Copy of log/UCR

(endorsed)

UF Dept

Cashier

copy

UF Dept

Fiscal Person

cash and checks handling12
Cash and Checks – Handling
  • Department Fiscal person to TM Cashiers
  • - Make deposits quickly
  • - Keep checks secure

copy

Supporting

Docs

UF Dept

Fiscal Person

TM Cashiers

cash and checks handling13
Cash and Checks – Handling
  • Deposit the cash and checks QUICKLY
    • If total deposit more than $500, must deposit next business day
    • No less than weekly, regardless of amount
  • Keep check information secure
    • Be careful with check copies
    • Never email copies of checks or store electronically
slide35

Cash and Checks – Entering Deposits

7

Within myUFL - Cash and Check Particulars:

  • Accounting Date – Will be the date received by TM and sent to the bank
  • Bank Account: UFV (or CONC for Jax)
  • Deposit Type: S=Cash or K=Checks
  • Make separate deposits for cash and checks
slide36

Cash and Checks – Entering Deposits

Within myUFL - Sequences

  • You can break out a deposit into separate sequences
  • Usually done to list checks individually or to break a deposit into different categories (books, t-shirts, fees)
  • Generally determined by department
slide37

Cash and Checks – Entering Deposits

Within myUFL - Lines

  • You can break a sequence into separate lines
  • Done when a deposit must be divided among more than one ChartField string (i.e., to record sales tax)
slide38

Scenario: Book Sales

  • You sell books and collect:
  • - Cash......... $1,000.00
  • - Check....... $100.00
  • - Check....... $300.00

Cash and Checks – Entering Deposits

slide39

Cash and Checks – Entering Deposits

After the UF Cashier receipts or logs as necessary, the cash/endorsed checks and UCR/log are given to the UF Fiscal Person who will enter the information into myUFL

UF Dept

Cashier

(endorsed)

copy

UF Dept

Fiscal Person

slide42

Cash and Checks – Entering Deposits

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Print Deposit Transmittal Form

slide43

Select Add a New Value to begin a new Deposit

Cash and Checks Record Deposit

26

Navigation: Accounts Receivable  Payments  Online Payments  Regular Deposit

You may use Find an Existing Value to see previous deposits if deposit does not have an accounting entry.

slide44

Enter the Deposit Unit

Deposit IDshould be NEXT – the ID will be assigned by PeopleSoft

Click: Add

Cash and Checks Record Deposit

slide45

Cash and Checks Record Deposit

The Totals tab contains basic information about the deposit – the date, tender type, amount, and number of sequences

slide46

Cash and Checks Record Deposit

Accounting Date defaults to the next business day

slide48

Bank Account

CC = Credit Card deposits

EFT = EFT/ACH and wire deposits

UFV = Cash and Check deposits

UFV (UF Vault) should be used for all cash and checks processed by Treasury Management.

Cash and Checks Record Deposit

slide49

Deposit Types are tender types.

Enter the Deposit Type

Cash and Checks Record Deposit

slide50

Count is the number of sequences for the deposit

Cash: usually 1

Checks: may be total number of checks

Control Total Amount is the total amount of the deposit

Cash and Checks Record Deposit

slide51

Cash and Checks Record Deposit

Currency and Control Data information are entered automatically by the system

slide52

Cash and Checks Record Deposit

Click on the “Payments” tab

slide53

Cash and Checks Record Deposit

The Payments tab contains descriptive information about your deposit

slide54

Cash and Checks Record Deposit

Only the Payment Information section is used for Direct Journal Deposits

The Customer Information and Reference Information are used for the Billing Module

slide55

Cash and Checks Record Deposit

Payment ID is required but determined by department

Pymt Ref is optional

Amount for this sequence. Total for all sequences must equal Control Total Amount on Totals tab

To add a sequence, click on the + box

Select the Journal Directly box

slide56

Cash and Checks Record Deposit

The screen now shows that we are on sequence 2 of 2. The arrow keys to either side navigate you to each sequence

To delete a sequence, click the minus box

slide57

Cash and Checks Record Deposit

Deposit is balanced when the Amount for all sequences equals the Amount on the Totals tab, and the number of sequences equals the Count.

Then click Save

slide58

Deposit ID has been assigned

Cash and Checks Record Deposit

If the Journal Directly box is not checked, the deposit will save, but you will not be able to add the ChartField information in the next step

slide61

Cash and Checks – Entering Deposits

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Print Deposit Transmittal Form

slide62

Click: Search

Cash and Checks

Create Accounting Entry

29

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

Use Create Accounting Entries to find any deposit that has not been completed

Deposit Unit is required, but can use any of the other fields to search for a deposit

slide63

Cash and Checks

Create Accounting Entry

10

Enter ChartField information here

Click the Customize button to tailor the order of the ChartField information

The primary purpose of the ChartField string is to tell myUFL where to record the money

slide64

Screen Tip!

Click the Customize button to tailor the order of the ChartField information

To reorder ChartField string items, select the field and click the up or down arrows until it is in the desired order

To remove fields, select the field and click the hidden box

Click OK

slide65

Cash and Checks

Create Accounting Entry

Enter ChartFieldvalues

Remember…

Enter the Line Amount as a credit (negative number)

slide66

Click thelightning bolt tocreate the accounting entry

Cash and Checks

Create Accounting Entry

slide67

myUFL will create the debit line automatically

Cash and Checks

Create Accounting Entry

myUFL knows the cash account by the bank account you entered previously.

slide68

Click Save

Cash and Checks

Create Accounting Entry

Click the Complete checkbox

slide69

UPKIt’s Your Turn

Exercise #1Standard Cash Direct Journal Deposit

Exercise #2

Check deposit with more than one sequence

slide72

Cash and Checks Deposit Transmittal Form

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Print Deposit Transmittal Form

slide73

Cash and Checks Deposit Transmittal Form

31

  • Deposit Transmittal Form (DTF)
    • Based on Deposit ID
    • At least one signature required
  • Put DTF into the bag together with appropriate backup documentation for Treasury Management
  • DTF is only required for cash or check deposits
slide74

Cash and Checks Deposit Transmittal Form

Navigation: Accounts Receivable  Payments  Reports  Deposit Transmittal

A Run Control ID is required to run a report in PeopleSoft. All users create their own Run Control IDs which can be used any time they are running this report.

Use Find an Existing Value if you have created a Run Control ID before

slide75

Cash and Checks Deposit Transmittal Form

Use Add a New Value if you have never created a Run Control ID before

Enter a Run Control ID

Click Add

slide76

Enter your Deposit Unit

Enter a Deposit ID

Cash and Checks Deposit Transmittal Form

Click Run

slide77

Click: OK

Cash and Checks Deposit Transmittal Form

slide78

Click on Process Monitor to see the status of the process

Cash and Checks Deposit Transmittal Form

slide79

Cash and Checks Deposit Transmittal Form

If not, click Refresh until Run Status and Distribution Status read Success and Posted

Run Status and Distribution Status should read Success and Posted

slide80

Click the Details link to see Process Details

Cash and Checks Deposit Transmittal Form

slide81

Click View Log/Trace to see the log files

Cash and Checks Deposit Transmittal Form

slide82

Click the PDF file link to open the DTF

Cash and Checks Deposit Transmittal Form

slide83

Cash and Checks Deposit Transmittal Form

Header information from Control data

 Verify the DTF data Print the form  At least 1 signature Make necessary copies  Put it in the bag.

slide85

Your Turn

Exercise #3The Deposit Transmittal Form

preparing your deposit for tm

11

Preparing your deposit for TM

Deposit Pieces – please submit in this order

  • Cash/Checks
  • Adding Machine Tape
  • Deposit Transmittal Form
  • Support Documentation Form
  • Receipt – cash register or UCR
slide88

Preparing DepositAdding Machine Tape

  • Add checks or cash
  • Ensures accuracy of deposit and helps to identify amount discrepancies
slide89

Preparing DepositSupport Documentation

  • Support Documentation for Deposit Transmittal Form must be attached
  • Department is responsible for full disclosure of pertinent information concerning the deposit
  • Disclose any other data necessary for proper identification relative to the department’s records
slide90

Maxine Word

352-392-9057

02/04/2010

Treasury Management

6400

1234

G 123459

G 123456

02/01/2010

02/04/2010

1,000,000,000.00

NONE

slide91

13-29

778

02/01/2010

02/04/2010

movement of funds
Movement of Funds
  • Each department is responsible for the conveyance of their collections to Treasury Management
slide94

Movement of FundsSecurity

  • Departments must provide adequate protection whenever cash is moved between buildings.
  • Money must be carried IN PERSON (NO campus mail!)
  • Locked bags must be used to transport paper and coin currency
  • Armored courier service available (for a fee)
movement of funds special situations
Movement of FundsSpecial Situations
  • Large concerts and other productions should make security arrangements directly with:
    • University Police, 392-1111 and
    • University Cashier, 392-0185
slide96

NOTE

All deposits received in the drop box after 8:00 am will be processed the next business day.

Movement of FundsTo Treasury Management

Take the money to TM/Cashiering

  • Located at S-113 Criser Hall
    • Drop box Emptied at 8:00 a.m.
    • Over the counter No later than 10:30 a.m.
    • Monday - Friday
slide97

Movement of FundsTo Treasury Management

Over the counter deposits

  • Between 8:30 and 10:30 Monday-Friday
  • Must complete a Consignment Sheet (receipt to evidence transfer from department to Treasury Management)
  • Sample Consignment Sheet can be found at fa.ufl.edu/forms or two-ply Consignment Sheets can be purchased
slide98

Movement of FundsTo Treasury Management

Complete the form and bring TWO copies to Treasury Management

Both copies are signed by the department and Treasury Management

One is for department and one is for Treasury Management

cash deposit summary

Support Documentation Form

• UCR and/or•Cash Register Tape

Deposit Transmittal Form

Cash Deposit Summary

Adding Machine Tape

cash deposit summary1
Cash Deposit Summary

Ready for Deposit

credit cards flow of money

12

Credit Cards – Flow of Money

Enter into myUFL

Customer

TM queries for info

UF Dept

Cashier or Fiscal

Person

Customer Copy

Reconciles with Bank

MerchantCopy

At end of shift, Dept files away Settlement Statement and/or Merchant Receipt

MC/Visa (next day) 

Amex (two days later) 

Treasury Mgmt

Bank

slide104

Credit Card

About Credit Card Deposits...

  • Deposits must be made the next business day
  • Visa & MasterCard payments must be combined into one amount to be deposited for each terminal
  • American Express deposits must be made separately from Visa & MasterCard and must be deposited per terminal
slide105

Credit Card

About Credit Card Deposits...

  • For example...

The department will make these

4 credit card deposits in myUFL:

 1 Deposit for Terminal ‘A’

$100 Visa/MasterCard

 1 Deposit for Terminal ‘B’

$500 Visa/MasterCard

 1 Deposit for Terminal “A”

$500 AMEX

 1 Deposit for Terminal “B”

$500 AMEX

  • Terminal ‘A’ processed:
    • $100 Visa transactions
    • $500 American Express
  • Terminal ‘B’ processed:
    • $200 Visa transactions
    • $300 MasterCard transactions
    • $500 American Express transactions
slide106

Credit Card

  • Keep Credit Card Information Secure!
  • Never email, scan, fax image or store electronically credit card information
  • “Credit Card Information” = anything more than the last four digits of the card number
  • Use masked receipts (do not show CC#)
  • Contact Renato Squindo (392-9057) with any questions on Credit Card security or PCI/PADSS Compliance
slide107

Credit Card

Entering Credit Card Deposits

Accounting Date

Bank Account

Merchant Number(from Settlement Statement)

Settlement Date

CC

C

Payment ID

Deposit Type

slide108

Credit Card

Entering Credit Card Deposits

Deposit Transmittal Form

Credit Cards

Notnecessary

Do not bring to TM

slide109

Scenario: Credit Card Payment

You receive a credit card payment for $3,500.00:

Revenue = 3,290.00

Taxes = 210.00

Credit Card

slide110

Credit Card

After the UF Dept Cashier/Fiscal Person receipts as necessary, the UF Dept Cashier/Fiscal Person will enter the information into myUFL.

Enter into myUFL

UF Dept

Cashier or Fiscal

Person

slide112

26

Credit Card

  •  In myUFL, we must

1. Record Deposit

2. Create Accounting Entry

slide113

Click Add a New Value to begin a new Deposit

Credit CardRecord Deposit

Navigation: Accounts Receivable  Payments  Online Payments  Regular Deposit

slide114

 Deposit Unit = “0500”

 Deposit ID will be assigned by myUFL

Click: Add

Credit CardRecord Deposit

slide115

Acctg Date – is the Settlement date

 Bank Code = “WACH” (default)

 Bank Account = “CC” Deposit Type = “C”

Control Total Amt = 3,500.00

Enter: Count (= “1”)

Credit CardRecord Deposit

Totals tab

Click:“Payments”

slide116

Payment ID = Merchant #

Example of: Merchant #

Credit CardRecord Deposit

Payments tab

slide117

Enter: Amount

[Optional]

Enter:Pymt Ref

Select:Journal Directly

Credit CardRecord Deposit

slide118

Click: Save

Credit CardRecord Deposit

slide122

29

Credit Card

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

slide123

Click: Search

Credit CardCreate Accounting Entry

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

Deposit Unit and

Deposit ID

slide124

Enter ChartField

information for revenue

Click the Add New Line icon

Credit CardCreate Accounting Entry

slide125

Click the lightning bolt to create accounting entry

Enter ChartField

information for taxes

Credit CardCreate Accounting Entry

slide126

Click the Complete checkbox

Click Save

Credit CardCreate Accounting Entry

slide128

Your Turn

Exercise #4Credit Card Deposit with Taxes

eft ach wire flow of money

14

EFT/ACH/Wire – Flow of Money

Customer

UF Dept

or C&G

Enters deposit into myUFL

Addendum

(download)

Treasury

Management

Deposit Control

Pull info and BK

Notifies TM of expecting payment

UF Dept

or C&G

Treasury

Management

Bank

slide131

EFT/ACH/Wire

  • Notify Treasury Management if you are expecting a deposit!
  • Contact Treasury Management if you have a company that wishes to pay UF via electronic transfer or wire
  • Check out the “EFT/Cashier Daily Log” or list of “Unapplied Wire/EFT Transfers” to help identify your money (www.fa.ufl.edu/treasury)

UF Dept

or C&G

Treasury

Management

slide132

EFT/ACH/Wire

  • When TM receives a payment, the receiving department is notified and sent an addendum
  • The addendum will indicate the amount of the deposit, the accounting date of the deposit, and the payment ID
  • The department uses this information to make the deposit

UF Dept

or C&G

Addendum

Enters deposit into myUFL

Treasury

Management

slide133

Payment ID

(right 8 digits)

Accounting Date

Amount

EFT/ACH/Wire

07/26/2011

07- 26 -11

07 /26 /2011

Date and Payment ID will be hand-written on the addendum by TM

slide134

EFT/ACH/Wire

Entering EFT/ACH and Wire deposits

Accounting Date

Bank Account

Deposit Type

Payment ID

Date of the addendum, UNLESS the Date of Addendum is in the prior month; then use first business day of the current month

EFT

Wachovia Reference Number(will be handwritten on addendum)

E

slide135

EFT/ACH/Wire

  • Entering EFT/ACH and Wire deposits
  • Make one EFT deposit per accounting date
  • Can group EFTs with same accounting date, as long as separate sequences are used
  • Do not bring the deposit to TM
  • No DTF necessary
  • Fax Imaging encouraged

Treasury

Management

slide136

Scenario: ACH Payment

  • You receive an ACH payment for:
  • $3,000.00
  • from sales of Gator T-Shirts

EFT/ACH/Wire

slide137

EFT/ACH/Wire

After the UF Dept Cashier/Fiscal Person has notified Treasury Management of the pending transfer and has received the addendum, the UF Dept Cashier/Fiscal Person will enter the information into myUFL.

Enter into myUFL

UF Dept Cashier or Fiscal Person

slide138

Find DATE

Find AMOUNT

EFT/ACH/Wire

37

07/26/2011

07 /26 /11

07 - 26 - 11

07 /26 /2011

slide139

Find WB ACH REF #

Scenario: ACH Payment

Rightmost 8 digits

= Payment ID

=“51149147”

EFT/ACH/Wire

07/26/2011

07 - 26 - 11

07 / 26 / 2011

slide142

EFT/ACH/Wire

26

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Fax Image (optional)

slide143

Select Add a New Value to begin a new Deposit

EFT / ACH / WireRecord Deposit

Navigation: Accounts Receivable  Payments  Online Payments  Regular Deposit

slide144

 Deposit Unit = “0500”

 Deposit ID will be assigned by myUFL

Click: Add

EFT / ACH / WireRecord Deposit

slide145

EFT / ACH / WireRecord Deposit

Totals tab

Acctg Date - For EFT, change to the date on the addendum

Enter the Bank Account code as “EFT” (Default = UFV)

Enter “E” as the Deposit Type

slide146

Enter the Count

Enter the Control Total Amt

EFT / ACH / WireRecord Deposit

Totals tab

Click:“Payments”

slide147

Enter: Payment ID

Enter: Amount

Select:Journal Directly

[Optional]

Enter:Pymt Ref

Click: Save

EFT / ACH / WireRecord Deposit

Payments tab

slide148

Deposit ID has been assigned

Deposit is “Balanced”

EFT / ACH / WireRecord Deposit

Payments tab

slide150

EFT/ACH/Wire

29

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Fax Image (optional)

slide151

Click: Search

EFT / ACH / WireCreate Accounting Entry

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

May default to the current deposit information

slide152

EFT / ACH / WireCreate Accounting Entry

Enter ChartFieldinformation

slide153

Click the lightning bolt tocreate accounting entry

EFT / ACH / WireCreate Accounting Entry

slide154

myUFL creates the debit line automatically

EFT / ACH / WireCreate Accounting Entry

Click the Complete checkbox

Click Save

slide156

EFT/ACH/Wire

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Fax Image (optional)

slide157

EFT / ACH / WireFax Imaging for Deposits

36

  • Fax Imaging
    • Works similar to AP module
    • Recommended for EFT/ACH/Wire deposits
    • Departments may use fax imaging for support if desired
    • Do not fax image checks – account and routing information!
slide159

Print and fax to 846-1020 with EFT addendum

EFT / ACH / WireFax Imaging for Deposits

slide161

EFT / ACH / WireYour Turn

Exercise #5EFT Deposit

slide163

Cash Expense Refunds

15

  • Cash Expense Refunds are:
slide164

Cash Expense Refunds

  • Cash expense refunds ALWAYS relate to an expense paid for by UF
  • Expense refunds must be returned to the ChartField of origin
  • Use the original ChartField string info from the expense as the ChartField string of the deposit
  • Expenses with a prior year accounting date are an exception
slide165

Cash Expense Refunds

  • Prior year refunds depend on the fund of the original expense:
slide166

Cash Expense Refunds

Example 1:

Example 2:

Example 3:

slide167

Cash Expense Refunds

  • All cash expense refunds must be accompanied by a cash expense refund form(http://fa.ufl.edu/forms/pdf/fa-pds-cer.pdf)
  • The cash expense refund form must be fax imaged to the original voucher, expense report, or journal ID
  • If the expense refund relates to a travel expenditure or a grant fund, forward the check and the cash expense refund form to travel or grants to complete the deposit
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Cash Expense Refunds

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  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Print Deposit Transmittal Form

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Select Add a New Value to begin a new Deposit

Cash Expense RefundsRecord Deposit

Navigation: Accounts Receivable  Payments  Online Payments  Regular Deposit

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 Deposit Unit = “0500”

 Deposit ID will be assigned by myUFL

Click: Add

Cash Expense RefundsRecord Deposit

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 Accounting Date

Bank Code = “WACH” (default)

Bank Account = “UFV”

Deposit Type = “K” (Check)

Cash Expense RefundsRecord Deposit

Totals tab

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Enter the Count

Enter the Control Total Amt

Cash Expense RefundsRecord Deposit

Totals tab

Click:“Payments”

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Click: Save

Cash Expense RefundsRecord Deposit

Payments tab

 Enter: Payment ID

Enter: Pymt Ref (Optional)

Enter: Amount

Check: Journal Directly

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Cash Expense Refunds

29

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Print Deposit Transmittal Form

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Click: Search

Cash Expense RefundsCreate Accounting Entry

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

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Cash Expense RefundsCreate Accounting Entry

  • NOTE
  • An expense refund decreases the original expense. It is NOT REVENUE. It should be deposited to the ChartField of the original expense
    • Since it is an Expense Refund, “Account” begins with a “7”
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Cash Expense RefundsCreate Accounting Entry

You MUST put the Journal ID, Expense Refund number, or Voucher number in the Reference (“Ref”) field!

Reference field may be located on a different tab. You can use “Customize” to move the Reference field to the ChartField Tab.

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Click thelightning bolt to create accounting entry

Cash Expense RefundsCreate Accounting Entry

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Click the Complete checkbox

Click Save

Cash Expense RefundsCreate Accounting Entry

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Cash Expense Refunds

31

  •  In myUFL, we must:

1. Record Deposit

2. Create Accounting Entry

3. Print Deposit Transmittal Form

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Cash Expense Refunds Deposit Transmittal Form

Navigation: Accounts Receivable  Payments  Reports  Deposit Transmittal

Use Find an Existing Value if you have created a Run Control ID before

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Cash Expense Refunds Deposit Transmittal Form

Use Add a New Value if you have never created a Run Control ID before

Enter a Run Control ID

Click Add

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Enter your Deposit Unit

Enter a Deposit ID

Cash Expense Refunds Deposit Transmittal Form

Click Run

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Click: OK

Cash Expense Refunds Deposit Transmittal Form

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Click on Process Monitor to see the status of the process

Cash Expense Refunds Deposit Transmittal Form

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Cash Expense Refunds Deposit Transmittal Form

Click Refresh until Run Status and Distribution Status read Success and Posted

Run Status and Distribution Status should read Success and Posted

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Click the Details link to see Process Details

Cash Expense Refunds Deposit Transmittal Form

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Click View Log/Trace to see the log files

Cash Expense Refunds Deposit Transmittal Form

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Click the PDF file link to open the DTF

Cash Expense Refunds Deposit Transmittal Form

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Cash Expense Refunds Deposit Transmittal Form

Header information from Control data

 Verify the DTF data Print the form  At least 1 signature Make necessary copies  Put it in the bag.

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Cash Expense Refunds

Your Turn

Exercise #6Cash Expense Refund

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Editing/Correcting Deposits

18

  • If a deposit has not been budget checked (posted) it can be changed in the AR module
    • In general, must go back to where the error was made to make the correction
    • There is a shortcut for changing the accounting date
  • Deposits that have been posted must be corrected with a DPC journal entry
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Editing - Scenario 1

  • Scenario 1: Change Accounting Date
  • You have received an error notice from Treasury Management...
  • A deposit entry was made with an incorrect date
    • - Deposit Unit = 0500
    • - Deposit ID = 24221
  • Request: Change Accounting Dateto 5/1/2011
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Once the complete box is checked, you must navigate to Modify Accounting Entries to view or edit the deposit

EditingScenario 1

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Modify Accounting Entries

Find the Accounting Entry to be corrected

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Deselect: Complete

Click: OK

Click Save

EditingScenario 1

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Now that the complete box is no longer checked, you must navigate to Create Accounting Entries to view and edit the deposit.

EditingScenario 1

Back to Create Accounting Entries...

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

Click: Deposit Control tab

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EditingScenario 1

Go back to Accounting Entries tab

Change the date

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Select: Complete

Click: Save

EditingScenario 1

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EditingScenario 1

  • Complete and submitnew DTF
  • At least 1 signature

Navigation:

Accounts Receivable  Payments 

Reports 

Deposit Transmittal Form

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Editing - Scenario 2

  • Scenario 2: Change Deposit Amount
  • You have received an error notice from Treasury Management
  • A deposit entry that was made with an incorrect deposit amount of $3,500.00
  • - Deposit Unit = 0500
  • - Deposit ID = 24226
  • Request: Change amount to $3,000.00
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Deposit is completed, so navigate to Modify Accounting Entries

Click: Search

EditingScenario 2

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Modify Accounting Entries

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Deselect: Complete

Click: OK

Click Save

EditingScenario 2

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Complete box is no longer checked, so navigate to Create Accounting Entries

Click theDelete Entryicon

EditingScenario 2

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

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EditingScenario 2

Note that the system generated lines have been deleted

Click bar to scroll over

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Click the Delete Row icon

Click: OK

Click Save

EditingScenario 2

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Deposit no longer has ChartFields associated with it, so you must navigate to regular deposit to edit/view the deposit

EditingScenario 2

Navigation: Accounts Receivable  Payments 

Online Payments  Regular Deposit

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Change: Control Total Amt to 3,000.00

EditingScenario 2

Click:“Payments”

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Change: Amount to 3,000.00

Click Save

EditingScenario 2

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Click: Search

EditingScenario 2

Navigation: Accounts Receivable  Payments 

Direct Journal Payments  Create Accounting Entries

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EditingScenario 2

Enter ChartFieldinformation

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Click Save

EditingScenario 2

Click the Complete checkbox

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EditingScenario 2

  • Complete and submitnew DTF
  • At least 1 signature

Navigation:

Accounts Receivable  Payments 

Reports 

Deposit Transmittal Form

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DPC Journal Entries

  • DPC Journal Entries done to correct deposits already posted
  • PST956 covers how to do journal entries (required for the UF_AR_CASHIER role)
  • “Long Description” MUST include:
    • Original Unit and Deposit ID
    • Sequence and Line numbers to be corrected
    • Department Name
    • Reason for the correction
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DPC Journal Entries

Click on Lines tab

Be sure to include all the information in the long description

Source code = DPC

Reference number = UFID

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DPC Journal Entries

Click Process button next to Edit Journal

First line(s) should back out the original deposit, while the subsequent line(s) should reflect the correct ChartFields.

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DPC Journal Entries

Journal and Budget Status should be V / V

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It’s Your Turn

Exercise #7Change Acctg Date

Exercise #8

Change the Deposit Amount

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22

If There is an Error...

  • Department will be contacted, and...
    • Treasury Management will not process your deposit until you have a correct date and/or data
    • The funds will not be posted
    • The budget will not update
  • Remember: All Mistakes can be fixed
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Deleting a Deposit

  • Sometimes it is necessary to delete a deposit (generally when it’s a duplicate)
  • Only possible if it has not been posted
  • Email TM (tmhelp@admin.ufl.edu) if you want to delete a deposit and we will do it for you
  • Please include the deposit unit and number and the reason for the deletion
  • Please DO NOT delete the deposit yourself!!
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Record Retention

  • All receipt/revenue records must be retained a minimum of 5 fiscal years
  • This information includes, but is not limited to, check logs, credit card settlement statements, cash register tapes, etc.
  • When ready for destruction, submit a Records Disposition Request to University Records Management Office
  • www.aa.ufl.edu/aa/records
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Outgoing wires

  • Treasury Management processes all outgoing wires, both foreign and domestic
  • When voucher is created, notify disbursements that the payment should be done by wire and send outgoing wire form to Treasury Management
  • Outgoing wire form is on the TM website (www.fa.ufl.edu/forms)
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Change, petty cash and research stipend funds

  • All cash funds are approved and managed through TM and the Controller’s Office
    • Change funds: used to make change for customers (i.e. cash register balance)
    • Petty cash funds: Used to make small-dollar non-routine purchases with cash
    • Research Stipend Funds: Used to pay research participants
  • See www.fa.ufl.edu/treasury for more information
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Roles & Responsibilities

Today’s training was from the perspective of the “Cashier” role

  • UF_AR_Cashier
    • DEPOSITOR - Makes deposits
  • UF_AR_Collector
    • Allows access to certain reports and customer information – NOT able to do deposits
  • Note that you must also complete PST956 – Online Journal Entry 9.1 to receive the UF_AR_CASHIER role
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Roles & Responsibilities

  • Keep GatorLink username/password secure
    • Only you should use your username and password
  • Sign off if you leave your work area
  • Know the policies that govern deposits and their handling
  • Ask if you don’t know
  • Best Practice: Clear cache regularly
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UF Foundation Deposits

  • UFF Monies are transferred to UF PeopleSoft via EFT to be spent from UF PeopleSoft
  • Treasury Management processes the deposit based on UFF-U forms received by the foundation
  • Foundation deposits will use Deposit Unit UFF (i.e. UFF-1294)
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Contacts

  • For Technical Questions: UF Help Desk
      • Phone: 392-HELP
      • Email: helpdesk@ufl.edu
  • For Policy and Procedures Questions Treasury Management
      • Phone: 392-9057
      • Email: lbling@ufl.edu (Laura Ling Donovan)mvword@ufl.edu (Maxine Word)
      • squindo@ufl.edu (Renato Squindo)
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Deposits

Policy

  • Finance & Accounting website

http://fa.ufl.edu/

  • Finance & Accounting Directives and Procedureshttp://fa.ufl.edu/uco/handbook/handbook.asp?doc=1.4
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myUFL Toolkits

  • Located at:

http://hr.ufl.edu/training/myUFL/Toolkits/

  • myUFL Toolkits
    • Web Simulations
    • Instruction Guides
    • Security Roles
    • Training
    • Contact Information
    • Other Helpful Information

Click to See Toolkits

NOTE

Your Study Guide includes lists of simulations and instruction guides contained in the Deposits Toolkit.

workshop evaluation
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Thank you for attending

PST021: Making Deposits in myUFL