Section 7: Accounting for Remittances
7.1 Accounting for Remittances Received in Schools
The Revenue of the University is received, receipted and banked by Treasury. For the most part, moneys are received direct through the university's bank account or incoming mail (mainly cheques, overseas drafts and money orders) or directly across the Cashier's counter (mainly cash and cheques).
In other instances, moneys may be sent to Heads of Schools or individuals in Schools (because the persons remitting the moneys are not sure where to send them). A remittance received in a School in this way should be immediately taken to the University Cashier together with relevant remittances (L20 or Sundry debtor form). These forms should be completed in full - including relevant chartfield or invoice number. Should it be necessary to retain the correspondence or other detail in a School, a photocopy of documents should be made before depositing the original(s) with the Cashier. In order to maintain security and responsibility the individual should wait at the cashiers' while the transaction is processed and receipted. The cashier will provide the individual with a system receipt (Onestop) with all relevant details, this receipt should be retained for audit purposes.
The Cashier will issue a receipt in the following circumstances:
- an across-the-counter transaction with the payer in attendance;
- internal staff depositing moneys received at the individual Schools or Faculties (as mentioned above);
- a remittance received via the mail room which has been entered in the External Mail Remittance Register;
- a credit, other than the University's daily banking and adjustments of the officer-in-charge of Treasury, appearing on an University Bank Statement.
7.2 Accounting for Remittances Received by Individuals Within the Chancellery (Other Than in Treasury)
In instances where moneys are received from Business Units and other areas within the Chancellery the same procedures as 7.1 should be followed.