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What is a Departmental Deposit?

When do I submit a Departmental Deposit?

Who do I contact for support?

Policies and Resources

Departmental deposits are submitted to record any money received by the department from sales or services.

If your department receives a check for a transaction that has been processed by Accounts Receivable, the check must be sent to Accounts Receivable for depositing and payment posting. DO NOT deposit the check via the departmental deposit process.

Deposits totaling $200 or more must be submitted to the bank within a day of receipt & uploads must be completed by the following day. Deposits totaling $199 or less must be processed within a week.

Departmental deposits are completed via Transact Campus.

treasury@boisestate.edu

https://www.boisestate.edu/vpfa-treasury/

Departments can choose to prepare a deposit bag, generate a deposit number (in Transact) and take their completed deposit bag to Student Financials to cashier the deposit OR they can choose to cashier the deposit for Loomis pick up.

Transact Campus is used to generate deposit numbers and cashier deposits as applicable.

Job Aids

  1. Cashier a Departmental Deposit: follow the steps in this job aid if you need to cashier a deposit but not prepare tender or complete the deposit.

  2. Prepare Tender & Submit Cashier a Departmental Deposit in Transact Campus

  3. Prepare Cash, Coin or Check for Student Financial Services

  4. Prepare Cash, Coin, or Check for Loomis

  5. Prepare Checks for JPMorgan Chase

  6. Run a Report in Transact Campus: follow the steps in this job aid if you need to prepare tender (e.g. cash, coins, check), cashier the deposit and/or complete a departmental deposit.

  7. Prepare a Deposit for Drop Off at Student Financials: follow the steps in this job aid if your department takes deposits to Student Financials for cashier and depositing.

Training Opportunities

All staff receiving cash must be trained on actions to take during an emergency. The University’s Office of Emergency Management maintains an emergency actions manual that must be reviewed by staff receiving cash on behalf of the University.

For departmental deposit training, email treasury@boisestate.edu.

Reporting on Departmental Deposits

Transact Campus Reporting

Run a report in Transact Campus to view information entered into Transact.

Deposits – Campus Transaction Dashboard

Run the Deposits – Campus Transaction Dashboard to search deposit information by department or cost center, deposit type, preparer group, and/or accounting dates. Please note, items entered in Transact Campus are manually loaded to the General Ledger (GL) on a daily basis and will not populate the campus transaction dashboard immediately after being entered into Transact Campus.

Confirm the accuracy of the funding segment string used for the deposit. If an incorrect segment string was used to code the deposit, a Journal Entry must be submitted. Visit Financial Transaction Corrections for more information.

Appropriated and Local Summary – BvA

The Budget vs Actuals (BvA) should be reviewed at least once per month to ensure accuracy of financial transaction reporting and proper budget management.