Departmental Deposits in Transit

[Business Affairs Office News]

Good afternoon,

The Business Affairs Office (BAO) Financial Services Department would like to remind University of Oregon (UO) personnel of the use of account code A0951 Cash-Department Deposit In Transit. For payments you have received but cannot deposit before the Cashiers' Office month and year end deadlines, please use the following procedures to record a deposit in transit.
To record the deposit in transit by JV in the month the payment was received:

Debit                      Department Index               A0951 Cash-Department Deposit In Transit

Credit                     Department Index               Revenue, Unearned Revenue, Accounts Receivable, etc.

To make the physical deposit with UO Cashiers using Banner form TWADEPO the next month:

Debit                      CASH, CHEK, or CARD depending on how the payment was received
Credit                     Department Index               A0951 Cash-Department Deposit In Transit

Please note that this account code and procedure should only be used to record payments that you have received but are unable to deposit with UO Cashiers by month end. Established cash handling procedures must be followed as indicated at http://ba.uoregon.edu/staff/cash-handling-and-departmental-deposits.


Thank you,

BAO Financial Services Department

Phil Davis, 6-3524, pdavis at uoregon.edu
Jill Ritz, 6-1256, jritz at uoregon.edu<mailto:jritz at uoregon.edu>
Robbin Howard, 6-1115, rchoward at uoregon.edu<mailto:rchoward at uoregon.edu>

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