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Treasury Management

Finance Division

Departmental Deposits

University departments are required to deposit all checks and cash on the same day that they are received, in order to maintain good financial management and internal control (Deposit of Checks, Cash and Credit Card Receipts Policy).

The Student Accounts Office (SAO) is responsible for receiving departmental check deposits for the University. This unit also provides training and support to departments that are set up on Remote Deposit On-site check scanners.

**TEMPORARY PROCESS FOR FOGGY BOTTOM DEPARTMENTS**

Place payment with the journal entry in an interdepartmental envelope marked clearly to Student Account Office, Ashburn VA with the envelopes dropped in the Yellow Mailroom Boxes located at:

University Student Center - Ground floor between the GWorld Card Center and the elevators
Support Building located at 2025 F Street on the ground floor

 

Normal Process:

Foggy Bottom departments may use the secure drop box located at the Student Services Hub (SSH) on the ground floor of the University Student Center, using a Departmental Deposit envelope. Envelopes are available at the SSH for your convenience, or if not readily accessible please request an envelope from a Hub staff member. 

Should you need to drop off a deposit after hours, place it in a sealed interdepartmental envelope addressed to SAO and deposit in the secure drop box. All checks must be in a sealed envelope for security purposes and to control the potential for lost documents. With unsecured delivery methods neither the staff members of the SSH nor the Student Accounts Office can be held responsible for lost or misplaced documents. 

Please be sure to include a copy of your journal entry in the envelope with your deposit. The date of the journal should be the date you are preparing it. Your deposit will be processed within one business day of receipt by SAO. Departmental Check Deposit Instructions on preparing your journal entry are available.

Cash deposits must be deposited at the PNC Bank Branch at 1920 L St. NW. For more details, please review the Departmental Cash Deposit Instructions. Deposit slips are available at the information desk at the SSH or by contacting [email protected].

Please note, in an effort to eliminate cash handling by university personnel, departments which are still accepting and depositing cash will be required to discuss alternative payment / deposit methods going forward.

The Student Services Hub is located at:

Ground Floor of the University Student Center
Email:  [email protected]
Monday, Tuesday, Thursday, and Friday 9:00 am to 5:00 pm
Wednesday, 10:00 am to 5:00 pm

Deposit Returns

In the event that your deposit is returned by the bank, the following will occur: 
 
A. University Accounting Services will prepare a journal entry to reverse the deposit to charge the department for the total of the returned check. The department has access to that journal entry, the original deposit journal entry, and the returned check(s) via the Oracle EAS system.  The department should monitor the activity in the account as part of their monthly budget performance review process.
 
  1. The department’s Alias is normally charged.
  2. The returned check account (52422) is normally used.  There are some exceptions for items such as financial aid, Grants and Contracts Accounting, and “R” funds which may use different accounts.
  3. No fees are charged.
B. The returned check documentation will normally be returned to the department within 2 weeks from the receipt of the return by UAS.
C. The department should record subsequent replacement deposits in the account to which the returned check was charged, normally account (52422).
 

Remote Deposit On-Site Scanning

If you are currently capturing check deposits using a PNC check scanner, documents are available to provide guidance.

If you are interested in setting up a Remote Deposit On-Site scanner in your department due to the high volume of checks received, please contact Treasury Management at [email protected].

Need help with your deposit?

Please contact the Student Accounts Office at [email protected].