Pol-Cash Receipt/Deposit Handling

policy cash receipt deposit handling modified Mon Oct 03 2022 13:55:18 GMT-0400 (Eastern Daylight Time)

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University of Louisville



Cash Receipt/Deposit Handling


November 1, 2014


This policy applies to all University employees (administrators, faculty, and staff).


For all departments outside of the Bursar’s Office as central depository, an electronic Cash Receipt/Deposit Handling Log will be maintained by all departments to ensure University cash and check (to include any negotiable instrument) receipts are accounted for in providing an audit trail to timely cash posting to the enterprise system. All departmental Cash Receipt/Deposit logs are to be maintained in the format as provided and approved by the Controller’s Office/Bursar’s Office. Any inquiries can be directed to (502) 852-8253 or at the service account, treasmgt@louisville.edu.


All checks or cash must be entered on the department’s Cash Receipt/Deposit Handling Log immediately upon receipt. The recipient becomes the ‘point of entry’ of funds into the University. Checks or other negotiable instruments must be endorsed when received for intended departmental deposit. A receipt book should be utilized for instances involving coin/currency acceptance or as intra-department transfer and acts as cross reference the log or functions as customer confirmation of cash transaction. A primary individual (Preparer) will be authorized by the department to be responsible for compiling the Cash Receipt/Deposit Log. A second individual (Reviewer) will be authorized by the department to review and approve Cash Receipt/Deposit Log entries on a per instance basis while independent individual (reviewer) verifies enterprise system entries on monthly basis in conjunction with the Account Reconciliation process. Substitution in the use of the standard Cash Receipts/Deposit Log with an alternate logging method requires prior Controller’s Office approval. Cash must be deposited timely within one business day from receipt. Controller’s Office will randomly audit department’s Receipt/Deposit Log. Failure to maintain such log will be subject to punitive action.


The Preparer must record the cash or negotiable instrument immediately on the Cash Receipt/Deposit Handling Log to include the following information for each line entry:

  1. Payer Name (optional):  Entered at department’s discretion.
  2. Date of Receipt:  Date monies were received.
  3. Dollar Amount:  Total amount of cash or check received.
  4. Receipt Type:  Description of monies type received, e.g., cash or check.
  5. References: a) Check number or cash denominations and b) Speed type.
  6. Total Deposit Amount:  List total of deposit on last receipt entry.
  7. Date of Deposit:  Date deposit was processed or transmitted to the Bursar.
  8. Method of Deposit: Type of deposit - B = Bursar, RD = Remote Deposit, BD = Branch Deposit, or AC = Armored Car Pickup.
  9. Preparer Initials: Initials of the individual entering receipt.
  10. Reviewer Initials: Initials of the individual reviewing entries and preparing of each bank deposit using location coded deposit slip and secured in a Tamper Evident Bag, if applicable.

A highlighted copy of the Cash Receipt/Deposit Handling Log will function as a transmittal in lieu of a specific departmental form when transferring to other depositing destinations, such as the Development Office, Sponsored Programs, Financial Aid, etc.

A Reviewer, independent resource* from the bank depositor individual, will perform a reconciliation of the Cash Receipt/Deposit Handling Log on a monthly basis in conjunction with the Account Reconciliation process to include:

  1. Ensuring primary and backup support employees assigned to complete the Receipt/Deposit Log have reviewed and acknowledged UofL Code of Conduct at: (http://louisville.edu/compliance/ico/code). See “Protect and Preserve University Resources”.
  2. Review the Receipt/Deposit Log ensuring required information has been entered timely and accurately.
  3. Verify monies received were deposited within the one (1) business (banking) day criteria as stated in the above policy by comparing receipt log entry(ies) to actual deposit date; Instances of disparity between check date, receipt date and/or bank deposit date are to be questioned and documented.
  4. Verify deposits with program cash entries in the enterprise system: Bursar transmittal deposits (CRB) are reconciled against the speedtype/account code; Location Coded deposits (CR) via bank branch or remote deposit are reconciled against the program cash account 110101 with discrepancies addressed to the Bursar or University Accounting, respectively

*Situations involving limited staff resources, the preparer must validate system cash entries.


Cash Receipt/Deposit Handling Log (located at the bottom of the Departmental Cash Controls Policy)


Vice President for Finance and Chief Financial Officer


Controller’s Office
Treasury Management
Service Complex, Louisville, KY 40292


Revision Date(s): August 6, 2016; April 20, 2020
Reviewed Date(s): August 6, 2016; April 20, 2020

The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.