How To: Review Checks Upon Receipt
Checks for a variety of transactions must be carefully inspected for accounting and tax purposes. Any oversight can have adverse repercussions on the processing of receipts.
Who does this? School and Department Staff preparing checks for deposit
When? Upon receipt of checks
How? By ensuring that all information on and associated with the check(s) is complete and correct
Review Checks Upon Receipt (3 steps)
Receive a check:
- Made payable to Stanford University.
Note: If not made out to Stanford University, please request a new check made payable to Stanford University.
Upon receipt, checks should be immediately endorsed with For Deposit Only to Stanford University with the appropriate project, fund, and object code included on the front of the check.
Important: To ensure appropriate segregation of duties, individuals who reconcile cash and check receipts should not be the same as those who receive and prepare them for deposit.
Ensure that the following information on the check is accurate and complete:
- current address
- valid date
- amount written on the check
- payer's contact information is complete
What Happens Next?
The receipt is ready to be processed and deposited. See Overview: Processing University Receipts.
Contact University Payments Office.