... Cash Receipts

Cash Receipts are departmentally used to record all monies (cash, checks, credit cards, wire transfers, and LOCs) collected and/or received by the University. This includes money credited to expenditure objects and vendor refunds.

The Bursar's office performs a daily money run to collect cash receipts prepared by departments throughout the University. To schedule a cash receipt pick up please call 713-500-3088 before 9:00 am. on the day of pickup in order for your location to be included in the money run route.

Departments can also personally deliver their cash receipts to the Bursar's Office. Cash receipts must be received in our office by 12:00 p.m. Monday through Friday in order to be included in that day's deposit. Cash receipts received after 12:00 p.m. will be processed the next business day and should be recorded by the departments as the next business day's transaction.

New cash receipt processors must complete FMS training in "Accounts Receivable for End Users" or "Accounts Receivable for Processors" prior to departments allowing them to submit cash receipts. In addition, a Processor Acknowledgment Form must be completed and returned to the Bursar's office prior to us accepting the department's cash receipts. Department Managers are ultimately responsible for the processing of cash receipts for their departments and should become familiar with the policies and procedures in place. For further guidance on cash receipts, please refer to the following HOOP sections:

HOOP Section 11.10 -- Receipt of Cash
HOOP Section 9.04 -- Fiduciary Responsibilities of Organization Managers
HOOP Section 10.09 -- Gift Funds

November 10, 2006">FMS Cash Receipt Procedures and additional tips for departments to reference. Additional clarification of FMS design and cash receipt processing is available in Chapter 5, Accounts Receivable for Processors Training Participant Guide for FMS.

 

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Last updated February 7, 2007