For those departments that take their cash directly to the bank, the validated deposit slips must be reconciled to the supporting documentation upon deposit and to the statements of account monthly. Instructions Receipt, Deposit and Reconciliation of Cash Collected A. Cash received in person. The cash received must be entered on a cash register, if one is available, and a copy of the receipt given to the customer. If a cash register is not available then pre-numbered receipts must be utilized and a copy of the receipt given to the customer. All checks must be endorsed immediately with a restrictive endorsement payable to the University of Iowa.
All voided transactions are to be approved and initialed by the cash collection point supervisor.
Only one cashier should be allowed access to a cash register or cash drawer during a single shift. Cash must be stored in a safe or other secure place until it is deposited. The mail is opened and all checks received must be endorsed with a restrictive endorsement. The checks should be entered into an approved accounts receivable system or into a ticket ordering system if either system is available. If neither system is available then a listing of the checks should be prepared or the checks should be photo copied and the copies retained as supporting documentation.