How To: Process and Deposit Department Receipts
The University's standard method of processing and depositing departmental receipts is electronically through CASHNet.com. Departments that receive cash or checks on a regular basis should consult with Office of the Treasurer to arrange the most efficient method for handling receipts.
- You need to request the access to CASHNet.com before you start using CASHNet.com to process department receipts. Please see Overview: Online Preparation of Departmental Deposits Using CASHNet.com.
- If you are collecting any student-related deposits, please contact the Student Financial Services Payment Office at 650-498-7526 before signing up for CASHNet.com.
- See Cash and Check Handling Checklists.
Who does this? Staff, Faculty
When? On the day checks are received, or as soon as possible thereafter
How? Record deposits in CASHNet.com, prepare funds and deliver them to Wells Fargo Bank, Tresidder Memorial Union, 2nd floor
Process and Deposit Department Receipts (3 steps)
Process Receipts via CASHNet
Log into CASHNet.com
- Go to CASHNet.com.
- Enter your Operator ID, Password and Station (always 000).
Note: The Operator ID and a temporary password for logging in the first time is included in your "Congratulations" email when your access request to CASHNet.com is approved. See Overview: Online Preparation of Departmental Deposits Using CASHNet.com.
Enter a Departmental Deposit
- From the home page, click Departmental Deposits link to the left.
- Click Add New Record.
- Enter new deposit information.
- Click Save.
- Print the deposit recorded.
Complete Triplicate Deposit Slip
- Obtain blank triplicate deposit slip from the University Payments Office.
- On the deposit slip, include your department org code and department name
- Verify checks are properly endorsed on the back with "For Deposit Only to Stanford University" and the appropriate PFOO or PTAE information is noted on the front.
- Retain the third deposit copy (yellow) for department records.
Deliver Deposits to Wells Fargo Bank at Tresidder or Any Wells Fargo Branch*. Include:
- Print-out of your deposit recorded in CASHNet.com (Step 1)
- Completed triplicate deposit slip (Step 2)
- Accompanying funds
Note: The bank will verify currency, accept checks, and record the deposit by branding the pink and yellow slip.
* If the deposit is made to a branch other than at Tresidder, mail the receipt via ID mail to the Cashiers Office (MC6036).
What Happens Next?
- Retain financial records as instructed in Administrative Guide Policy 3.1.5: Retention of Financial Records.
- Review the completed deposit transaction form to ensure that all departmental accounts and any object codes/expenditure types noted are correct and the amount of funds going for deposit equals the amount entered.
- Reconcile the data on the transmittal form and the deposit receipt with financial statements to ensure the correct amounts are credited to the correct accounts.
- Any cash deposit in excess of $10,000 must be reported to the University's Tax Department using IRS Form 8300.