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Departmental Deposit Instructions

1. Funds collected by departments are to be deposited at the Bursar's Office located in the Student Services Center. The deposit must be accompanied by a completed deposit slip. A receipt will be returned to you after the data has been entered into the accounting system. If you want a copy of the deposit slip returned for your records, send two copies to the Bursar's Office. Also keep a copy of the deposit slip in your office.

2. A calculator tape must be included with the deposit listing all checks. All currency must be grouped according to denomination and must be facing in the same direction.

3. All checks must be endorsed with a department or organization stamp. The stamp should include the name of the department or organization and bank information. The Bursar's Office will provide the information for the stamp. The stamp can be ordered through Purchasing in Old Main.

4. A DEPARTMENT NUMBER (old terminology: ACCOUNT NUMBER) and ACCOUNT CODE (old terminology: CLASS CODE)  must be listed on all deposits. If you do not know which Department Number or Account Code to use, contact the General Ledger Office.   Student Faculty Organization (SFO) accounts do not use a class code. If you do not know which SFO account to use, contact the General Ledger Office.

5. If funds are taxable, use the following formula to calculate the state and county taxes:
• Total taxable amount divided by 1.055 equals net taxable receipts
• Net taxable receipts multiplied by .05 equals state sales tax (class code 4995)
• Net taxable receipts multiplied by .005 equals county sales tax (class code 4993)

Net taxable receipts plus state sales tax plus county sales tax must equal total taxable amount. If the amount is off by one cent, the difference is due to rounding. Adjust the net taxable receipts so the totals equal the total taxable amount.

6. Complete the "DEPOSITED IN FORM OF:" line indicating the amounts deposited in coin, currency and checks. The total of all funds deposited must equal the total of all the items listed on the deposit slip.

7. Complete the "Prepared by:" line and include a telephone number where you can be reached if there are questions about your deposit.