... FMS Tips

Additional tips for FMS cash receipt processing...

1. FMS comes with a Fund-Area-Org Crosswalk that translates your old TUFIMS account numbers into FMS account numbers. Create a cheat sheet for your office that everyone can reference with the new account numbers you use most. FMS also has Revenue, Expense, and Balance Sheet Crosswalks.

2. New accounts created in FMS can be easily looked up via "trees" in FMS.

3. You can delete any deposit you are entering by going to the "Action" tab and selecting "Delete" in the Express Deposit and Worksheet. You can select "Delete Deposit" in the Regular and Direct Journal Deposits. Remember that deposits can only be deleted if they have not been posted by the Bursar’s office.

4. If the payment received is for a sponsored project it must be forwarded to PAF for processing with supporting documentation of the deposit. DO NOT process payments for sponsored projects with your department’s regular deposit.

5. You must include a check log detailing the date, amount, check number, and name on the check with your deposit. A check log register can be printed from FMS. The check log must match the amount of your deposit.

6. You must include copies of your checks and supporting documentation with your deposit. Supporting documentation include copies of RIs for expense reimbursements, copies of letters and statements for miscellaneous cash, copies of doc IDs, etc.

7. If copies and supporting documentation are not provided, or the deposit is not properly entered in FMS (i.e. individual checks are not entered, account numbers are not provided, etc.), the deposit will be returned to the department for processing. The department will be held accountable for violating the 24 hour deposit policy required by HOOP up to and including potential monetary damages and audit findings.

8. You should check the outstanding invoices for a customer prior to applying payments to assure that:

• the payment was/was not for an invoice,
• the payment is being made for the full amount, and
• the payment is applied to the correct customer.

REMEMBER: If the payment is for an item NOT invoiced, the payment should be recorded as a Direct Journal transaction.

9. Receivable Update processes overnight. Payments applied to customer accounts will not be reflected in the system until the following business day.

10. Each department must assure that there is a segregation of duties between the persons generating the invoices, receiving the cash, preparing the deposit and entering the receipt transaction in FMS.

11. Please feel free to contact the Bursar’s Office at 713-500-3088 if you have any questions or need additional clarification. You can also reference the Bursar’s Office website for additional guidance and HOOP policies regarding cash receipts.

 

The University of Texas Health Science Center at Houston
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Last updated January 30, 2009