cash: Year End Departmental Deposits in Transit

[Campus Cash Handlers]

Good morning,

The Business Affairs 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., Friday June 28th, 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 FY24 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 FY25 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/cashiering/cash-handling-and-departmental-deposits.

Thank you,

Business Affairs Financial Services Department

Phil Davis, 6-3524, pdavis at uoregon.edu<mailto: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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