Procedures

Receipting and Banking - Procedures

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1. Purpose and Objectives

These procedures outline the treatment of all monies collected by the University.

2. Definitions, Terms, Acronyms

Central Cashier - the main University Cashier, located on level 3, JD Story Building, St Lucia campus.

Collections - monies received by the University in the forms of cash, cheques, money orders, electronic funds transfers, credit or debit card payments, EFTPOS, bank drafts and telegraphic transfers.

Bank Drafts – cheques from banks situated outside of Australia.

EFTPOS – Electronic Funds Transfer at Point of Sale

OSS - OneStopSecure, UQ's revenue receipting system.

PCI-DSS Payment Card Industry Data Security Standards

QAO - Queensland Audit Office

Telegraphic Transfers – electronic transfers made from a foreign bank to the University’s bank account. Also known as wire transfers.

3. Procedures Scope/Coverage

These procedures apply to any person who collects and receipts monies within or on behalf of the University.

4. Procedures Statement

Compliance with these procedures will ensure that audit requirements for the accounting of payments are adhered to and will provide protection to officers handling monies.

5. Safeguarding University Monies

It is the personal responsibility of every staff member involved with the collection, receipt and custody of University monies to safeguard those monies adequately whilst it is under their physical control. This includes:

  • Planning cash collection so as to minimise the potential for significant amounts of monies being retained on University premises overnight.
  • Where it is necessary to retain University monies on premises overnight, such as for Petty Cash, responsible officers are required to use a lockable cash box and the lockable cash box should be locked and placed in a safe, strong room, lockable drawer or other suitable storage unit, when not immediately required.
  • Where it is necessary to regularly retain larger cash amounts on premises – i.e. greater than $1,000.00 – a suitable safe should be used. The safe may be accompanied by other security measures such as CCTV or alarm systems.
  • The custodian of the safe and cash box should keep the key with them at all times. For absences, an appropriate handover should take place, ensuring the contents of the safe or cash box are accounted for.

5.1 Private funds

University staff shall not mix private monies with University funds under their control. Staff cannot cash cheques for any person out of University funds.

No University staff member shall keep, or permit to be housed, any private monies or documents in an official safe or strong room, or lodge or permit to be lodged, private monies in an official University bank account.

6. Monies Received in Person

Organisational units are not permitted to issue receipts unless they have access to the OneStopSecure (OSS) cashiering system. If no access exists, the monies are to be securely forwarded to the Central Cashier who will process the payment and issue the receipt.

All organisational units that have access to OSS must enter the receipt of funds into their OSS system.

6.1 Cash, cheques and money orders

6.1.1 Cash

The Accounts Receivable team within FBS will accept cash in the form of Australian currency notes and coins only. All foreign currencies are to be converted at a foreign exchange facility before being receipted in OSS.

For enquires as to the conversion and/or exchange of foreign currencies, contact the Accounts Receivable team within FBS.

Please note that cash should never be sent to a cashiering area via the internal mail as it is not a secure method of dispatch.

6.1.2 Cheques

Cheques (personal, bank and bank drafts) will be accepted provided they are payable at a bank operating under an Australian banking licence, or will be honoured by such a bank. Cheques are to be made payable to “The University of Queensland”.

Foreign currency cheques/drafts will be accepted provided they are issued in the currency of the drawer’s country, i.e.: US dollar cheques drawn on a US bank. Any enquiries as to the ability of the University to accept a foreign cheque/draft are to be referred to the Accounts Receivable team within FBS.

Foreign currency cheques cannot be receipted until converted to Australian dollars, therefore, all such cheques are to be forwarded to the Central Cashier with an Income Deposit Form who will instigate this process.

Change will not be given on a cheque, nor are cheques to be cashed.

6.1.3 Money orders

Only Australian dollar money orders are accepted, and are treated as cheques. Money orders from other countries cannot be banked or cashed in Australia so they are not an accepted method of payment.

6.2 Credit card payments

Only those organisational units that have been authorised by the Chief Financial Officer are able to accept payments made by way of an approved credit card. Credit card types that are accepted by the University consist of MasterCard, Visa Card and in some cases American Express. Organisational units wishing to offer this facility must submit a written request to the Chief Financial Officer. Prior to the submission of such requests, units are to discuss the intended purpose and operation of the card facility with the Manager, Financial Services within FBS. Once a card facility has been approved, the Manager, Financial Systems within FBS will make the necessary arrangements with the bank. A register of organisational units offering card facilities is maintained by the Accounts Receivable section and Central Registry.

The minimum amount for card transactions is $5.00 and no cash advances or cash out payments are to be made.

Each month the bank provides statements to the University detailing the service charges applicable to the card transactions processed during the period. Where applicable, the Accounts Receivable team will allocate these charges against a single bank charges chart string held centrally.

Any enquiries regarding the provision of card facilities are to be directed, in the first instance, to the Manager, Financial Services within FBS.

6.2.1 Payments by EFTPOS (Card Present)

Where an organisational unit has been authorised by the Chief Financial Officer to accept card payments, either via OSS or a standalone EFTPOS terminal, credit card payments must be processed immediately.

EFTPOS facilities are also available through the Cashiers on the main campuses.

6.2.2 Payments where Credit Card is Not Present

In circumstances where it is not possible for a customer to pay in person (i.e. the credit card is not present), use the following:

  1. Web Payments (preferred method) - Where permitted customer processes the payment directly via the UQ Web Payments page. For setup of Web payments complete an Online Payment Setup Request located at http://www.fbs.uq.edu.au/online-payments-system.
  2. Over the phone - payment processed immediately by UQ staff into OSS while the customer is on the phone (no card details are held or recorded).
  3. Paper forms - only to be used where UQ Web Payments are not available, and must be handled in the following manner:
    1. How to Collect - Contact FBS Cash Allocations (cash@uq.edu.au) for an approved paper based form template.
    2. How to Process - Collected credit card information must be processed immediately via OSS or standalone EFTPOS terminal and thereafter destroyed by cross cut shredding, incinerating, or pulping. If credit card details cannot be processed immediately they must be stored in a safe, lock box, or lockable draw and in a locked office, along with an Income Deposit Form until they can be processed.
    3. How to Transport - The only secure methods of delivery of credit card details to a Cashier/EFTPOS facility are:
      1. If your organisational unit doesn't have access to OSS or a standalone EFTPOS terminal, credit card information you obtain should be physically walked to a Cashier at your campus.
      2. If your campus does not have a Cashier then the details should be couriered to the Central Cashier at Level 3 of the JD Story Building, St Lucia campus. P&F offer a secure courier service between UQ's primary campuses in the South East.
      3. For areas where using P&F is not an option, please use a trustworthy courier company.

NOTE: Credit card information must not be stored in hardcopy or electronically on any University infrastructure. This includes databases, electronic files, or email. Destroy all credit card information once the transaction has been processed via one of the following methods: cross cut shredding, incinerating, or pulping.

7. Monies Received Through the Mail

Where practicable, all inward mail, whether received by post or hand-delivered, will be opened in the presence of two staff members assigned for the purpose (one from a different organisational unit), preferably in a secure location. If only one staff member is present, that person shall not be responsible for any duty relating to the receipting of monies received in the mail.

Every cheque or other negotiable instrument received and payable to The University of Queensland or its organisational units must be specially crossed immediately upon the opening of the mail. If a cheque is not already marked “Not Negotiable”, the staff member must stamp the cheque as such.

7.1 Recording of monies

Where an organisational unit has access to the University’s receipting system (OSS) it must issue an official University receipt immediately.

Where an organisational unit does not have access to OSS and is unable to issue a receipt, an Income Deposit Form is to be completed, and along with the payment, have both forwarded to one of the Cashiers on the relevant University campus.

Where the payment is for a UniFi invoice, the chart string section of the Income Deposit Form is not to be completed. The total of the Income Deposit Form must equal the total amount received. Where a customer requests a copy of the receipt, input the customer email address into the section provided on the Income Deposit Form and a copy of the receipt will be forwarded once the payment is processed.

The statutory period of retention for all records relating to the receipting of monies is seven years, as per the Queensland State Archives (General Retention and Disposal Schedule for Administrative Records dated 23/03/14).

8. Issuing University Receipts

8.1 General

Only official University receipts from an approved cash register or computerised accounting system are to be used for the receipting of monies paid to the University.

The issue of unofficial receipts is NOT permitted.

Official receipts are not to be issued for any purpose other than the original acknowledgement of the acceptance of monies.

Organisational units are not to issue receipts for donations.

All donations in response to an appeal are managed by the Advancement Office. Any funds received for donations are to be forwarded to the Advancement Office for processing. For more information on the accounting procedures and taxation matters regarding donations, gifts and bequests to the University, please refer to PPL 9.30.05 Donations and Bequests.

8.2 Cash registers and cash floats

Any proposal for organisational units to acquire or replace separate cash registers must be referred to the Chief Financial Officer for approval.

Requests for new cash floats or to amend the existing float amount are also to be forwarded to the Chief Financial Officer for approval.

8.2.1 OneStopSecure (OSS) revenue receipting system

OSS is a revenue receipting system, also known as a Point of Sale (POS) system, and is the University’s official receipting system.

The purpose of the OSS receipting system is to provide a standard approach to the collection of revenue at the University.  The system also provides a user-friendly cashiering front end and enables payment receipting via the Internet.  The system can exchange information with UniFi and eliminates double entry of payment information.

8.2.2 Cash register control procedures

Control procedures for cash registers are as follows:

1. Receipts must be issued to customers immediately;

2. Organisational units are to advise customers that cheques are to be made payable to “The University of Queensland”;

3. Only cheques drawn on Australian banks (not Australia Post money orders) are to be specially crossed "not negotiable" as soon as received. The receipt number must be written on the reverse side of the cheque and money orders. Change will not be given on a cheque nor will cheques be cashed. All bank drafts are to be forwarded to the Central Cashier for processing;

4. Cash payments from the till in settlement of official accounts are not permitted under any circumstances;

5. If payment is received as a result of a UniFi invoice being issued, the invoice number is to be recorded on the front of the receipt and all copies;

6. Foreign currency monies will NOT be processed on a cash register. These monies must be converted to AUD before receipting;

7. The custodian of collections is required to keep cash and negotiable instruments in a locked cash box overnight, which in turn will be kept in a secure place, preferably a strongroom or steel safe, access to which is controlled. Staff who have custody of money are to retain the keys to the cash box securely in their personal possession;

8. A POS Cash Register Take-Off Sheet is to be maintained to record the daily OSS totals and is to be signed by the senior operator;

9. Receipts issued by the Central Cashier or deposit slips issued by the bank, covering monies lodged by the organisational unit, are to be stapled to the relevant page of the POS Cash Register Take-Off Sheet;

10. Where practicable, an independent senior officer (checking officer) is required to check the entries in the deposit book against both the machine totals and the duplicate of the Central Cashier’s receipt. Where monies are lodged direct with a bank the check will be against the machine totals and the receipted bank deposit slip. The checking officer is required to countersign the POS Cash Register Take-Off Sheet to certify its correctness;

11. Certain cash registers have a sequential control number (known as a "Deposit Number") which prints following the totalling of the register on the end of day report (EOD Report). The cashier and the checking officer must ensure that the “Deposit Number” is sequential to the previous day’s number;

12. All cancelled receipts are to be noted on the POS Cash Register Take-Off Sheet together with the reason for the cancellation and reference to the replacement receipt, if any, that was issued. Checking staff members will satisfy themselves as to the reasons for the cancellations prior to signing the POS Cash Register Take-Off Sheet for the day;

13. All voided or cancelled receipts and POS Cash Register Take-Off Sheet are to be retained for inspection by both internal and external audit staff. The statutory period of retention for these records is three years;

14. Variations in cash register readings arising from the mechanical adjustment of any register are to be certified on the POS Cash Register Take-Off Sheet by the maintenance firm responsible;

15. Should there be a change of custodian, the outgoing officer is required to reconcile the money on hand with the details recorded in the POS Cash Register Take-Off Sheet. Upon acceptance of custodianship, the incoming officer is required to check the reconciliation and both officers are to sign and date the POS Cash Register Take-Off Sheet to confirm the amount handed over.

8.2.3 Minimum requirements for cash registers

(a) Cash register - The cash register is required to have adequate accumulating capacity.

(b) Printing - The cash register must print automatically on a receipt form with respect to each amount of money received:

  •  the amount received;
  •  a consecutive receipt number;
  •  the date of receipt; and
  •  where practicable, an identification of both the operator and the cash register.

The capacity of the printer will not be less than the accumulating capacity of the cash register.

(c) Audit total and other accumulations - The cash register will feature an audit total into which every amount for which a receipt is issued by that cash register is to be accumulated continuously.

The cash register is required to be capable of accumulating separate totals for the mode of payment, (i.e. “cash”, “credit (or debit) cards” and “cheques and other negotiable instruments”) and providing those totals for more than one operator.

9. Lodging Monies 

9.1 Lodging monies with the Central Cashier

Unless otherwise approved by the Chief Financial Officer, the custodian of collections will lodge all monies with the Central Cashier. Due to their remoteness from the Central Cashier, organisational units may obtain the approval of the Chief Financial Officer to deposit funds directly to the main University bank account.

Monies are to be lodged with the Central Cashier on the day of receipt where the amount held (including monies held from the previous day) exceeds:

  • $100.00 in cash; or
  • $1,000.00 in cheques and other negotiable instruments.

Notwithstanding the amount held, no collections are to remain unpaid to the Central Cashier for a period in excess of one week.

The monies to be lodged are to include all sums received up to the latest possible time which will still allow the balancing and lodgement with the Central Cashier on that day. All collections received after that time are to be lodged with the Central Cashier on the subsequent day.

THE TRANSFER OF CASH THROUGH INTERNAL MAIL IS STRICTLY PROHIBITED.

All cash collections are to be hand delivered to the Central Cashier. Appropriate security is to be arranged for persons carrying large sums of money. Organisational units situated off the St Lucia campus who do not directly deposit funds to the main University bank account should contact the Accounts Receivable team for advice.

On lodgement of monies with the Central Cashier:

(a) A University Income Deposit Form is to be completed and handed to the Central Cashier:

  • for the total lodged amount of cash/money orders/cheques receipted by the organisational unit;
  • for each cheque received in a foreign currency and/or drawn on a foreign bank; and
  • for the total lodged amount received by an organisational unit in the form of credit (or debit) card payments. 

The organisational unit officer must record a valid general ledger chart string, distribution amount and the GST status of the monies on the Income Deposit Form. Details of how to complete an Income Deposit Slip for the Central Cashier may be found in Section 11 of these procedures.

(b) Monies are to be lodged with the Central Cashier in the same form (for example, cash, cheque) as they were collected or received.

9.2 Depositing monies to a University bank account

Where approval has been granted by the Chief Financial Officer, organisational units (mainly off the St Lucia campus) may bank collections directly into the main University bank account.

All monies collected are to be transferred to the main University account at least weekly and on the last working day prior to 31 December each year. Any large sums collected should be cleared to the main bank account on the day.

Monies are to be lodged with the bank in the same form (for example, cash, cheque) as they were collected or received.

Monies deposited to bank accounts are restricted to monies collected for purposes of the University. Private monies are not to be banked to a University bank account.

Monetary limits applying to the balancing and banking of all collections are to be in accordance with the procedures detailed in the previous section relating to lodgement of collections with the Central Cashier.

All particulars of deposits are to be recorded in a bank deposit book. The staff member will ensure that the bank's stamp is affixed by the receiving teller to the stub of the deposit slip. The deposit book stubs are to be retained by the staff member.

The deposit slip is to be referenced with the receipts or summary thereof. The final receipt duplicate or summary thereof is to be similarly referenced with the total amount and date of the deposit.

Upon completion of banking, a senior officer is required to check the record of receipts against the deposit slip, and is to initial the last receipt relevant to the banking to record this check.

Where monies are deposited directly to the main University bank account without a deposit slip or agent number, a University Income Deposit Form is to be completed and forwarded by email (cash@uq.edu.au) to the Accounts Receivable team the same day. 

The Income Deposit Slip will facilitate the allocation of funds to the specified University general ledger accounts and account for GST

The bank deposit slip is to be retained in accordance with the relevant procedures contained in Section 8 “Issuing University receipts”.

10. University Bank Accounts

10.1 Opening bank accounts

The University's main bank accounts are controlled by the FBS Division. In a limited number of cases additional University accounts are conducted to satisfy special needs arising from the remote location of certain operations, for example the Dayboro Veterinary Surgery.

Generally, separate bank accounts will not be opened to accommodate special activities within an organisational unit. Depositing and expending of funds in respect of a University-related activity is to be through the main University account. These transactions are recorded through a special organisational unit general ledger account opened specifically for this purpose.

Private bank accounts may only be opened by a staff member or a group of staff members for activities that are for strictly non-University purposes, for example, staff social clubs or external associations. These accounts are personal bank accounts and as such, the title of the account must not make reference to the University or the organisational unit's name.

Requests to open new University bank accounts are to be forwarded to the Chief Financial Officer. Prior to the submission of a written request, organisational units should discuss the intended purpose and operation of the accounts with the Treasury Accountant, FBS Division. Once a new account has been approved, the Chief Financial Officer will arrange for staff in FBS Division to open the account with the respective bank.

10.2 Operational arrangements

Banking arrangements will be made or varied only under the authority of the Vice-Chancellor, on the advice of the Chief Financial Officer.

Correspondence between the University and the banks concerning:

  • opening and closing of bank accounts;
  • alteration to the designation of an account;
  • linking of a credit/debit card facility to an account;
  • appointment of cheque signing officers; and
  • cancellation of appointments as signing officers,

Will be attended to by the Chief Financial Officer.

A bank account will not be closed until all transactions with respect to that account between the University and the bank have been completed and every cheque drawn on that account has been paid by the bank and debited to that account or the value thereof cleared from that account.

No bank account, other than the main University account, is to be overdrawn.

10.3 Bank reconciliations

A reconciliation between the balance indicated by the bank statement and the balance indicated by the general ledger account for the bank account is to be performed as at, and as soon as practicable after, the end of each month.

Where practicable, an independent senior staff member who is not the Cashier or an authorised cheque signatory, and is responsible for the bank account, will ensure that each bank reconciliation statement is promptly and correctly performed and that the necessary action is taken in respect to any error, irregularity or abnormal item disclosed by that reconciliation. The staff member will sign and date the statement to indicate the performance of this duty.

Copies of the reconciliation statement and the bank statement are to be forwarded to the relevant sections in FBS Division.

11. Completing an Income Deposit Slip

11.1 Completing an income deposit slip for deposits lodged with the Central Cashier

An Income Deposit Form is NOT TO BE COMPLETED where income is received in relation to:

  • a UniFi invoice and the remittance advice has been received with the payment;
  • a parking permit and the permit application has been returned with the payment;
  • any other income received that is accompanied by a University remittance advice.

In the above instances the payments are to be lodged directly with the University Cashier.

An Income Deposit Form is to be completed and lodged with the University Cashier:

  • for each cheque payment not for a UniFi invoice;
  • for each bank draft received in a foreign currency; and
  • for the total lodged amount of cash/money orders/cheques receipted by an organisational unit.

A brief explanation of the information to be completed on the Income Deposit Form appears below:

Item

Description

Name of Payer

The person or organisation from which the income has been received (Note this is NOT the name of the University organisational unit receiving the remittance nor that of the staff member completing the form).

Address for receipt if required by mail (optional)

This is an optional field to be completed when the payer requests a receipt and the organisational unit is not able to issue a receipt directly. A separate Income Deposit Form is to be completed for each individual payer who requests a receipt. The Cashier will forward the receipt to the payer as per the details entered on the form.

Description of Income

A detailed description of the nature of the income received is to be entered (this is particularly important where supporting documentation is not available). For example photocopying charges, conference registration fees, veterinary clinic fees, testing services, reimbursement of phone charges.

Invoice Number

Where the payment received is accompanied by the remittance advice from a UniFi invoice, an Income Deposit Form is NOT to be completed.  However, where a remittance advice is NOT returned, an Income Deposit Form must be completed and the invoice number entered in this field.

Full ChartField

A General Ledger chart string must only be utilised if no UniFi Billing invoice was raised (as the organisational unit would have already received a credit at the time they raised a UniFi invoice).

Amount

Where GST applies to this income, the amount entered should be GST inclusive and the correct GST tax code should be selected.

Name of Depositor

This is the name of the person who actually deposits the income with the University Cashier.

Total (including GST)

This is the total of the distribution amounts, including any GST component, as entered on the Income Deposit Slip. This should equal the total of the income received (and deposited with the University Cashier) and the total as entered on the Income Deposit Form in relation to the method of payment.

 

Custodians
Chief Financial Officer
Mr Andrew Betts

Forms

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Income Deposit - Form

Income Deposit - Form

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Description: 

This form is used to send money to the University Cashier.

Custodians
Chief Financial Officer
Mr Andrew Betts
OneStop Product Setup Request - Form

OneStop Product Setup Request - Form

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Body
Description: 

This form is used for requesting the setup of new product templates in the OneStop cashiering system.

Custodians
Chief Financial Officer
Mr Andrew Betts
OneStop Revenue Receipting User Access Request - Form

OneStop Revenue Receipting User Access Request - Form

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Body
Description: 

Use this form to request access to OneStop Revenue Receipting System.

Custodians
Chief Financial Officer
Mr Andrew Betts
POS Register Take-Off Sheet - Form

POS Register Take-Off Sheet - Form

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Body
Description: 

This is the End of Day Takings report completed by organsational units with OneStop.

Custodians
Chief Financial Officer
Mr Andrew Betts
Remittance by Post - Form

Remittance by Post - Form

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Description: 

Send this form to the Cashier with several deposits and Accounts Receivable will send the receipts back to the School.

Custodians
Chief Financial Officer
Mr Andrew Betts
Custodians
Chief Financial Officer
Mr Andrew Betts
Custodians
Chief Financial Officer
Mr Andrew Betts