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.100 General

This section provides guidelines for Local/Agency Funds. James Madison University is the custodian or fiscal agent for Local/Agency Funds held for students, faculty, staff members and other activities. The University includes the front-end budgeted Student Government Association organizations in this Fund Group. Local/Agency Funds may include organizations designed to ease administrative handling of special transactions. Department numbers are also set up for conferences and events that benefit or promote the University while not qualifying as official University activities. As per the Department of Accounts, Chart of Accounts structure, Local/Agency Funds are outside of the Commonwealth policy for funds deposited in and expended from the State Treasury. Responsibility for the proper business reason for expenditures rests with the individual or activity for which JMU is acting as the Fiscal Agent.

The University assigns Financial Information System (FIS) Department Numbers in the 8xxxxx series of numbers to Local/Agency Funds. All department numbers are available online numerically and alphabetically.

.200 Control Responsibilities

This subsection outlines the control responsibilities of the departments/activities involved in processing transactions using Local/Agency Funds.

.210 Local/Agency Funds Department/Activity

• Collects and deposits revenues according to University procedures.
• Comply with Virginia Retail Sales and Use Tax Collection requirements once authorized by the Associate Vice President for Finance to sell merchandise or rent university facilities.

  Contact the Cash & Investments Office for specific procedures prior to initiating any sales/rentals.

• All locations accepting payment cards must obtain written authorization from the Associate Vice President for Finance prior to implementing a payment card option.

  Complete the eMarket Request Form

• Upon approval of the Departmental Request to Process Payment Cards and after merchant numbers are received, any required processing equipment will be procured and programmed by University Business Office. (Equipment costs are charged to the department requesting authorization to process payment cards.)
• Department Head (Merchant) must review, complete and return the JMU Merchant Agreement (annual process) to University Business Office.
• Department requests training and access, from the University Business Office, for online transaction management sites.
• Department contacts the University Business Office to schedule mandatory Payment Card Acceptance Training for all individuals designated to handle any area of payment card processing.

  Department submits documentation for background checks on appropriate staff (including students)

• All payment card deposits must be processed daily regardless of the amount.
• Insures that an adequate cash balance is available in the account before processing expenditure transactions.
• Complies with procurement procedures for the purchase of goods and services.
• Complies with JMU Policy No. 4401 University Supported Travel. This policy applies to university-supported travel regardless of the source of funds. The Financial Procedures Manual, Section 4215, "Travel" provides detailed travel procedures.
• Complies with JMU Policy No. 4101 Contractual Agreements-Student Clubs & Organizations (3/1/99).
• Prepares appropriate documents for payments to vendors, students and employees. Forwards completed documents to the appropriate office for processing.
• Prepares written monthly reconciliation of transaction amounts shown on University FIS monthly reports (including Ledger 9xxxxx payroll accounts) to the department or activity internal records. Contacts Cash & Investments Office to resolve discrepancies or submit an online request for transaction research assistance.
• Maintains Signature Authorization forms to document current approved signatory authority. See Section 3020, Signature Authorization for additional information.
• Complies with University policies and procedures for awarding scholarships to students. (See Subsection .500 of this section "Classification of Payments to Students.")
• Complies with University policies and procedures for hiring employees and compensating for work performed. (See Subsection .500 of this section "Classification of Payments to Students," and Subsection .700 of this section "Processing Procedures - Employment and Payment for Work Performed.")
• Prepares "Action Request for Department ID" form to setup a new FIS Department Number, change or close an existing Department. (This form is available online.)

.220 Accounts Payable

• Reviews purchase documents for restricted items and purchases costing more than $10,000 for propriety (See Subsection .400 of this Section "Processing Procedures - Purchases and Payments,"). Approves and forwards complete documents to the Office of Procurement Services.
• Reviews JMU Accounting Voucher or Local Funds Transfer Request Form (with accompanying backup documents) for proper signature and back up documentation and processes/routes documents.
• Provides assistance to departments regarding proper expenditure of funds and form preparation.

.230 Accounting

Financial Reporting

• Assigns payroll account numbers for Local/Agency Funds payroll expenditures and advises departments or activities of their payroll department number.
• Processes "Action Request for Departments/Accounts," form.
• Prepares and processes JMU Accounting Voucher to transfer funds from the department or activity to the appropriate payroll department/account.
• Processes ATV's between Local/Agency Fund Departments/Activities. (NOTE: Each Department Number used must be in the 8xxxxx series.)

Cash & Investment 

• Completes online transfer of funds per A/P approved form via online banking module to pay other JMU state funded departments for goods or services purchased.
• Assists in resolving problems encountered in monthly reconciliation process.
• Provides assistance to departments/activities regarding financial reports, University policies, procedures, etc.
• Reconciles University's FIS records to the University's Commercial Bank and Investment Statements.

.240 University Business Office

• Provides Payment Card Acceptance Training to university employees (including students).
• Facilitates approved requests for payment card merchant numbers.
• Assists in acquiring appropriate payment card processing equipment or implementing approved online payment sites.
• Processes deposits and recoveries according to University deposit procedures.
• Authorizes exception to daily depositing requirements, with approval from the Associate Vice President for Finance.
• Prepares UBO Check Request Form for scholarship payments.
• Applies scholarships to student's records.

.250 Financial Aid and Scholarships

• Processes memos requesting student scholarships.
• Notifies University Business Office of scholarships awarded.
• Cancels payment of scholarships that students refuse, or the University reduces or stops.

.260 Payroll Services

• Processes contracts for hiring student employees.
• Enters student employee data into the Payroll System
• Administers proper taxing of scholarships awarded to non-resident aliens.

.270 Faculty Advisor for Student Activity

• Directs and advises student officers concerning University policies and procedures published in this JMU Financial Procedures Manual and the JMU Manual of Policies and Procedures (Faculty Advisors should contact the Director of the University Center if they do not have access to these manuals.)
• Approves the JMU Accounting Voucher/Invoice.
• Authorizes scholarships to students in leadership positions.
• Approves PAR forms for permanent and temporary employees.
• Approves student and temporary employee Time Authorization forms to certify correctness of hours worked and availability of funds in the Department Number shown.

.280 Associate Vice President for Finance

• Authorizes departments to sell goods and services and to implement payment card acceptance.

.300 Processing Procedures - Revenues

The Commonwealth of Virginia requires the University to deposit revenues collected, daily. The Associate Vice President for Finance may approve exceptions to this requirement if amounts collected daily are typically less than $200. Payment card deposits must be processed daily regardless of the amount. In those cases where exceptions are granted, the University must make deposits whenever accumulated receipts exceed $200, but NEVER less than weekly (unless an exception is given by the Associate Vice President for Finance).  All checks collected are to be made payable to "JMU" or "James Madison University".  The Local/Agency Funds department/activity must keep all monies in the most secure location available, until deposited. When making deposits, the Local/Agency Funds Departments/Activities should secure all monies in a locked deposit bag. Departments/Activities should contact the University Cashier in the University Business Office to obtain a deposit bag.

Local/Agency Funds Departments/Activities may make deposits directly to the University Bank, if authorized by the Associate Vice President for Finance, or the University Cashier. The Associate Vice President for Finance must approve requests to make deposits directly to the University Bank.

.310 Revenues Deposited with the University Cashier

.311 Local/Agency Funds Department/Activity

• Collects revenues.  All checks collected are to be made payable to "JMU" or "James Madison University".
• Prepares Financial Information System Deposit Transmittal form.
• Forwards completed form and monies by the most secure means possible to the University Cashier.
• Reconciles monthly, revenue recorded on University FIS monthly reports to internal records.

.312 University Business Office

• Receives deposit information from Departments/Activities, receipts deposit, and forwards a copy of the receipt to the originating department or organization.
• Makes deposits to the University Bank.

.313 Financial Reporting

• Receives deposit information from University Cashier and records in the FIS records.
• Reviews FIS reports for accuracy.

.320 Revenues Deposited Directly With the University Bank

.321 Local/Agency Funds Department/Activity

• Requests authority from the Associate Vice President for Finance to deposit revenue collected directly to the University Bank.
• Completes Deposit Ticket according to instructions provided in Section 4105, "Deposits" Subsection .420 "Deposit Ticket (University Bank Deposit Ticket)."
• Deposits funds with the University Bank.
• Completes Financial Information System Deposit Transmittal Form.
• Forwards one copy of the Deposit Ticket (Verified by Bank) and a completed Financial Information System Deposit Transmittal Form to Financial Reporting.

.322 Financial Reporting

• Receives deposit information from Local/Agency Funds Department/Activity and records in the FIS.
• Reviews FIS reports for accuracy.

.330 Payment Card Acceptance Processing

• Requests authority from the Associate Vice President for Finance to accept payment cards.
• All payment card refunds MUST be placed back on the same payment card as used in the original sale.  Only in cases that the original card has since closed, the department should contact the University Business Office at x87908 for further instruction in how to proceed with the refund process
• Ensures appropriate security controls are in place related to payment card transactions:

  All individuals given access to payment card information have completed training. No customer payment card or personal information is stored on JMU servers, workstation hard drives, or in hard copy/paper form in departmental offices. All customer receipts show only truncated card numbers — the last four digits.

• Receives payments from customers.
• Prepares and retains documentation supporting receipts and deposits
• Prepares a completed FIS Deposit Transmittal Form using Deposit Certificate numbers assigned to the department by the University Business Office. The payment card version of the Deposit Transmittal Form will be provided by the University Business Office. The original payment card version of the Deposit Transmittal Form is sent to the Financial Reporting Office at MSC 5715. The department must keep a copy for departmental files. Complete instructions for completing the Deposit Transmittal Form can be found in subsection .810.

.400 Processing Procedures - Purchases and Payments

.410 Purchases

All purchases, including those funded by Local/Agency Funds, must comply with Procurement requirements. The University outlines these requirements in Section 7005, "Procurement". Departments/Activities procuring goods, supplies and services with a value of $10,000 or less, charged to Local/Agency funds, must use the JMU Accounting Voucher. The use of the Departmental Purchase Order (DPO) referenced in Section 7005 "Procurement," Subsection .810 does apply to Local/Agency Funds department/activity.

.411 Purchases - Restricted Items

Departments/Activities must complete a James Madison University Purchase Requisition, regardless of the dollar value, to procure the following items:

Unapproved printing; Payments to students or state employees; Alcoholic beverages; Cellular phones; Firearms and ammunition; Furniture; Lease purchases; Narcotics and dangerous drugs; Office equipment maintenance agreements; Radioactive chemicals and materials; All services provided by professionals, nonprofessional and consultants. These services require a signed contract before delivery of service.

.412 Purchases

Complete the "JMU Accounting Voucher," form (Refer to Section 4205, Subsection .610, "Expenditures, Accounting Voucher" for preparation instructions).

.413 Contract Purchases

Refer to Policy 4201 Procurement of Goods, Supplies & Services Contract (6/1/97) in the James Madison University Manual of Policies and Procedures.

.414 Travel/Travel Related Expenses

State Travel regulations require the use of the Travel Reimbursement Voucher to itemize travel expenses for all individuals traveling on official business of the University. Local/Agency Funds department/activity may obtain travel guidelines, in Section 4215, "Travel".

.415 Purchases from JMU Departments

Local/Agency Funds departments/activities may purchase services and items from various on-campus offices and departments. Follow the procedures listed below for purchases from the following areas:

Bookstore

The department/activity is expected to use the SPCC when making charges at the university bookstore.

Facilities Management

The department/activity must complete a Work Request (via the Facility Focus System). Facilities Management will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Postal Services

The department/activity may send mail, with the Ledger "8" Department number printed in the lower left-hand corner of the envelope or item being mailed. Postal Services will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Catering and Special Events

The department/activity may contact the Office of Catering and Special Events to request services. The faculty advisor for the activity must sign a contract form confirming that sufficient funds are available to pay for the goods and services. Catering and Special Events will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

P.C. Services

The department/activity may contact the Office of P.C. Services to request an Annual Service Agreement for equipment that is included in the JMU Fixed Asset System. P.C. Services will complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Media Production Center

The department/activity must complete a memo detailing the services requested and the Local/Agency Fund Organization Number to the Media Production Center. The Media Production Center will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Events and conferences

The department/activity may request use of vehicles and use of Wilson Hall Auditorium by contacting the Office of Events and Conferences. The Office of Events and Conferences will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Athletics

The department/activity may request services by contacting the Office of Intercollegiate Athletics. The Athletics Office will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Public Safety

The department/activity may request services by contacting the Public Safety office. The Public Safety Office will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

Publications

The department/activity may request services by completing the JMU Printing Request Worksheet available on the Office of Communications & Marketing web site. The Publications Office will accumulate charges and complete the necessary forms to charge the department/activity and receive revenue/expenditure recovery for services provided.

University Copy Centers

The department/activity may request services at the various JMU Copy Centers. The Copy Centers requires the department/activity to use their Duke Card for payment of charges.

.420 Payments

This section outlines the requirements for processing payments for goods, supplies and services provided by vendors.

.421 Local/Agency Funds Department/Activity

• Verifies that an adequate cash balance is available in the department before processing expenditure transactions.
• Completes an accounting voucher to initiate payment to vendors for prepayments and other payments upon receipt of an invoice.
• Completes a receiving report upon receipt and acceptance of goods, supplies and services greater than $10,000.
• Forwards payment documents to the Office of Accounts Payable. (Payment documents could include invoices, payment receipts, or contracts.)
• Prepares ATV's to transfer funds between 8xxxxx Activities. If each department/activity Department Number does not begin with an "8", refer to subsection .415, "Purchases from JMU Departments," for examples of how to initiate these payments.
• Requests meal and travel reimbursements using the Chrome River Application. Travel guidelines, Meal and Lodging Rates and Personal Vehicle Mileage Rates are available in Section 4215, "M&IE Rate Table" and "Personal Vehicle Mileage Rates" respectively.
• Uses the "information only" copy of charges from JMU Departments to verify amounts posted to FIS Records.
• Resolves billing discrepancies with JMU Departments. (See Subsection .423 "JMU Departments Providing Services" for required methods to resolve discrepancies that results in a refund.)

.422 Accounts Payable

• Reviews JMU Accounting Voucher/Invoice for propriety, approves and processes documents. Returns incomplete documents to the originator.

.423 JMU Departments Providing Services

• Send each Local/Agency Funds department/activity a copy of their current month charges once a month. Stamps the copy "INFORMATION ONLY - DO NOT PAY."
• All JMU Departments providing Local/Agency Fund departments/activities with goods and services will submit a Local Funds Transfer Request Form charging the organization number and account provided, along with a completed State Funds Transfer Request Form to be used to deposit the payment into the appropriate JMU department's budget.
• Resolves billing discrepancies with Local/Agency Funds department/activity. Uses one of the following two methods to resolve discrepancies that result in a refund to the local department/activity:

  Issues a credit to the Local Agency Funds department/activity on the following month's billing When no charges occur during the next billing cycle, requests a refund check for the amount charged.(Complete accounting voucher for refund check and deposit transmittal form) Deposits the refund check to the appropriate Local Agency department/activity and Account Code.

.500 Classification of Payments to Students

Effective November 11, 1992 University Administrators approved the following position paper for classification of payments to students from University Local Funds (Ledger 8).

CLASSIFICATION OF PAYMENTS TO STUDENTS - FROM UNIVERSITY LOCAL FUNDS (LEDGER 8)

Payments to students from University maintained local funds are made in the following ways:

Compensation - for work performed. In these cases, payment is contingent upon the recipient's performance of expected, assigned job duties. Accordingly, compensation payments are not made until fulfillment of the assigned job duties. Compensation is treated as payroll (i.e., wages, salaries) and the individuals are viewed as employees of the Activity, not officers or leaders of the Activities. Subsequently, the student employees must be selected through the appropriate University hiring procedures related to student employment, must complete appropriate tax and immigration documentation related to employment, and must follow appropriate state guidelines concerning documentation of hours worked.

 

.700 Processing Procedures - Employment and Payment for Work Performed

.710 Employment

All Activities must follow university employment requirements when employing students, temporary employees and current University employees.

.711 Student Employees

Contact the Human Resources and Student Employment Office to obtain procedures for hiring student employees and to get a copy of the University Student Employment Handbook. The University will make semi-monthly payment for hours worked through the University Payroll System. Payroll Procedures are available in this Manual, Section 5005,"Payroll".

.712 Temporary Employees

Requests to hire temporary employees must be processed through the Office of Human Resources and Student Employment. Contact this office to obtain procedures. The Local/Agency Funds department/activity may not hire full-time degree seeking students as temporary employees.

.713 Current University Employees

Requests to hire current University employees must be processed through the Office of Human Resources. Departments should contact this office to obtain procedures.

.720 Payment for Work Performed

Payment to individuals as compensation for work performed is contingent upon the recipient's performance of expected, assigned job duties. Accordingly, the Office of Payroll Services does not make these payments until assigned job duties have been satisfactorily completed. Individuals performing specific job duties for a department/activity are considered an employee of the department/activity.

Often, nominal payments are made to elected and appointed leadership positions, typically in the Front-End Budgeted Activities.  This practice is in consonance with the university’s philosophy of encouraging participatory student leadership.  Activities of this nature are conducted primarily for the benefit of the student.  As such, these payments are excluded from the Fair Labor Standards Act (FLSA) and are not subject to Federal minimum wage requirements [see U.S. DOL Wage and Hour Division’s Field Operations Handbook, Section 10b03(e)].

.721 Department/Activity

• Requests payroll department number from Financial Reporting.
• Includes the payroll department number on all Local/Agency Funds payroll documents.
• Follow payroll procedures documented in Section 5005, "Payroll." of this Manual.
• Verifies that an adequate cash balance is available in the department/activity Department Number before processing payroll transactions.

.722 Financial Reporting

• Assigns FIS Department Number 9xxxxx for processing Local/Agency Funds payroll payments.
• Informs department/activity of assigned Department ID Number.
• Prepares DTF Forms for bank transfer charging the 8xxxxx activity and depository to the 9xxxxx Department ID.

.800 Forms Preparation and Submission

.810 FIS Deposit Transmittal Form

.811 Required

The University requires this form to transmit deposit information and payment card refund information for input to the Financial Information System.

.812 Where to Obtain Blank Forms

Blank Deposit Transmittal Form for CASH
Blank Deposit Transmittal Form for CHECKS
Blank Deposit Transmittal Form for ELECTRONIC PAYMENTS

The blank Payment Card version of the Deposit Transmittal Form is only available from the University Business Office and is not available online.

.813 Number of Copies

The original Deposit Transmittal Form is sent to the Financial Reporting Office at MSC 5715. The department must keep a copy for departmental files.

.814 FIS Deposit Transmittal Form Preparation for Cash and Check Deposits

Note: * DTF revised June 2012 to show error messages when Bank Code, Bank Acct and/or DEPTID not completely entered or coordinated as required. Be sure to look for error messages when completing form.

Following are detailed instructions for the preparation of the Financial Information System Deposit Transmittal Form. Enter information in the following categories only; leave all other areas blank.

	DC # :	(For direct bank deposits only.) Enter the deposit number from the University bank deposit ticket. Attach the University bank deposit slip to the back of the form. (Please see Section 4105, Subsection .425 for preparation instructions for bank deposit tickets.)
	Prepared By:	Name of the person completing the form, initial beside typed name.
	Dep. Date:	Enter the date the deposit is made.
	Date:	Enter the date the form is prepared.
	Phone/E-Mail:	Phone number and/or e-mail address of the preparer.
	* Bank Code:	Enter BOA for JMU local deposits.
	MSC:	Enter the MSC of the preparer.
	* Bank Acct:	Enter BDEP, BPAY, BSRT, BPRK, BSCN, or BFRS for JMU local deposits. Ensure you are using the account as specified by the University Business Office.
	Amount:	Enter and verify the total amount of the deposit, if completed electronically this total is automatically calculated.
	Line Count:	This field will automatically populate.
	Explanation:	Indicate any additional facts related to the origin and/or the nature of the deposit. The batch settlement confirmation number may be listed here.
	Cash or Checks:	Use the DTF for the tender type you are depositing.  Do not combine cash and checks on the same deposit.
	* Dept. ID#:	The Local/Agency Funds six(6) digit Activity or Department number. Refer to the "Department Organization Numbers - Numerical Listing" for a list of codes and definitions. Account #: Enter the six(6) digit revenue source code. Refer to Section 2020, "Revenue Account Codes and Definitions" for a list of codes and definitions.
	Account #	Enter the six (6) digit revenue source code. Refer to Section 2020, "Revenue Account Codes and Definitions for a list of codes and definitions.
	Description of Deposit:	Indicate the origin and/or nature of the deposit.
	Amount:	Summarize the receipts by deptID and revenue account codes and enter the amount for each code. For unidentified items, list each amount collected separately.
	D/C:	Enter a "C" if the deposit is a credit to Dept. ID # ; enter a "D" if the deposit is a Debit to the Dept. ID.
	Total:	Enter and verify the total amount of the deposit, if completed electronically this total is automatically calculated.

.815 FIS Deposit Transmittal Form Preparation for Payment Card Deposits

Following are detailed instructions for the preparation of the Financial Information System Deposit Transmittal Form for payment cards. Enter information in the following categories only; leave all other areas blank.

	DC #	Enter the Deposit Certificate number on the Deposit Transmittal Form using a sequence of numbers provided by the University Business Office. The department should maintain an Excel spreadsheet of these numbers to keep track of the DC # used, deposit date, amount, and card type deposit. The department must only use the numbers within their sequence and restart the sequence each July 1. If a department runs out of numbers within their designated sequence within the Fiscal Year, contact the University Business Office for another set of numbers—do not go past your designated numbers!
	Prepared By:	Name of the person completing the form, initial beside typed name.
	Dep. Date:	Enter the date the deposit is made.
	Date:	Enter the date the form is prepared.
	Phone/E-Mail:	Phone number and/or e-mail address of the preparer.
	Bank Code:	Enter BOA for JMU local deposits.
	MSC:	Enter the MSC of the preparer.
	Bank Acct:	Enter BDEP for JMU local deposits. Amount: Enter and verify the total amount of the deposit, if completed electronically this total is automatically calculated. Line Count: This field will automatically populate.
	Amount:	Enter and verify the total amount of the deposit; if completed electronically this total is automatically calculated.
	Line Count:	This field will automatically populate.
	Explanation:	Indicate any additional facts related to the origin and/or the nature of the deposit. The batch settlement confirmation number may be listed here.
	Payment Cards:	Only option available.
	Discover/MasterCard/Visa:	Select if the deposit is for Discover/MasterCard/Visa transactions.
	American Express:	Select if the deposit is for American Express. The deposit will arrive from American Express.
	Dept. ID #:	The Local/Agency Funds six-digit Activity or Department number. Refer to the "Department Organization Numbers - Numerical Listing" for a list of codes and definitions.
	Account #:	Enter the six-digit revenue source code. Refer to Section 2020, "Revenue Account Codes and Definitions" for a list of codes and definitions.
	Description of Deposit:	Indicate the origin and/or nature of the deposit.
	Amount:	Summarize the receipts by DeptID and revenue account codes and enter the amount for each code. For unidentified items, list each amount collected separately. Payment Card amounts must be recorded, by day, on a separate Deposit Transmittal form. These amounts should not be included with cash and check receipts.
	D/C:	Enter a "C" if the deposit is a credit to Dept. ID # ; enter a "D" if the deposit is a Debit to the DeptID.
	Total:	Enter and verify the total amount of the deposit, if completed electronically this total is automatically calculated.

Notes for payment card processing:

Payment card terminal sales are normally batched once a day at the end of the day for every payment card machine within an authorized location. If more than one batch is settled in one day or there is more than one machine, all batches must be added together and combined in one transmittal form for each card type.

All refunds must be made by payment card only — no refund checks. If the deposit you are making has refunds included in the total, list the sales on the deposit transmittal as a "C" credit and the refunds as a "D" debit to get a "net" total.

.820 Accounting Voucher

       Prepare an Accounting Voucher for the charge as follows:

Vendor Name: James Madison University Vendor Address: JMU EDI Vendor PeopleSoft Vendor Number: 0000002610 Hightlight the address and Vendor # to alert A/P that this is an EDI payment. Additionally, prepare a credit Deposit Transmittal Form for Electronic Payment for the "8" department for the amount of the charge, using Bank of America as the Bank Code and BDEP as the Bank Account. Be sure to include in the Description on the DTF the Invoice Number from the Accounting Voucher. Send the Accounting Voucher, backup documentation, and the original & one copy of the DTF to Accounts Payable. When the funds are received, UBO personnel will receipt the DTF copy and return to you for your records.

 

    Refer to Section 4205, subsection .610   Expenditures, "Accounting Voucher" for additional                       information.

.900 Deposit Reconciliation

.910 Required

A written reconciliation is required comparing revenue deposited to University monthly FIS reports.

NOTE:     Payment card chargebacks (when the bank retrieves funds from the university's local bank account due to a customer disputed payment card charge) must be reimbursed by the department immediately regardless of resolution issues. The University Business Office will prepare a deposit transmittal form to record the debit transaction to the local bank account. An accounting voucher will be prepared charging the department that the chargeback belongs to and forwarded to the department for coding completion and authorizing signature. The department must then forward these forms to Accounts Payable at MSC 5712 for payment processing.