Preparing Deposit for Bank

Preparing Deposit for Bank

Who Completes This Task: Bursar or Business Office

Process

Deposits should be prepared on at least a weekly basis.

Criteria

• Money in any form has been received by the program or school

Steps

1. Open a secure deposit bag received from teachers or schools
2. Count the funds in the bag and compare to the enclosed Receipts to Deposit form
   1. When possible, this should be done by two people
   2. Notify the submitter of any differences
3. Complete the Receipts to Deposit form
   1. Scan and email form to the submitter
4. Repeat steps 2 and 3 until all security deposit bags have been opened and counted
5. Combine all of the like items together (checks, currency and coin)
6. In many cases, checks go to 360  Colborne
   1. Endorse all checks
   2. Complete the deposit slip provided by the Business Office
      • Run an adding machine tape if checks are not individually listed
7. Scan the checks, deposit slip and the Receipts to Deposit forms as a pdf
   1. File name format should be the school number followed by the date (mmddyy) of the deposit (eg: 410 081216.pdf)
8. Place the deposit slip and funds in a security deposit bag
   1. Completing the required information on the bag and seal the bag
   2. It is advised that the bag be initialed by both people who counted the funds
9. Bring the deposit bag with cash and coin to the Nutrition Services employee responsible for securing deposits
10. Proceed to Recording Revenue in Activity Tracker process

Documentation Required

• PDF of scanned checks, deposit slip and Receipts to Deposit forms