Year End Department Deposits in Transit

[Business Affairs Office News]

Good morning,

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 year-end deadline of 3:00 p.m., Wednesday June 30th, please use the following procedures to record a deposit in transit.

Record the deposit in transit by JV with a June transaction date:

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

If deposits are made with the Cashiers’ Office in July that were received by your department in June, and the above procedures were not utilized, accrue the deposit with the following JV’s.

To correct the FY21 activity, record the deposit in transit by JV with a June transaction date:

Debit                     Department Index           A0951 Cash-Department Deposit In Transit
Credit                    Department Index           Revenue, Unearned Revenue, Accounts Receivable, etc.

To correct the FY22 activity, reverse the entry with a July transaction date:

Debit                     Department Index           Revenue, Unearned Revenue, Accounts Receivable, etc.
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 https://ba.uoregon.edu/content/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>



________________________________
From: bao-news-bounces at lists.uoregon.edu <bao-news-bounces at lists.uoregon.edu> on behalf of Business Affairs Office News <bao-news at lists.uoregon.edu>
Sent: Thursday, June 24, 2021 1:24 PM
To: bao-news at lists.uoregon.edu <bao-news at lists.uoregon.edu>
Subject: Year End Deposit Reminder


Wednesday June 30 is the deadline for Departmental Deposits that need to be recorded in the current fiscal year. In order to ensure that all deposits are posted to this fiscal year, the drop box open hours in the lobby of Thompson University Center are being temporarily extended.  As usual, please do not wait until the last day to drop off your deposits.




Thompson University Center Drop Box Hours for next week:



Tuesday June 29: 8AM to 1PM

Wednesday June 30: 8AM to 3PM

Friday July 2: 8AM to 1PM




The following week of July 5-9, the TUC drop box open hours will revert back 8AM-1PM Tuesdays and Fridays only.


Thank you,


Mike Syljuberget

Cashiers Manager - Business Affairs Office

University of Oregon

(541) 346-3164
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