- All deposits presented in the Business Office must be accompanied by a Deposit Slip.
- Provide the Name and Campus Extension of the person preparing the deposit so that we may contact them if there are questions regarding the deposit.
- Initial to certify that there are no collected donation funds included in the deposit (all donations must first be forwarded to and processed by the Office of University Advancement who will then present to the Business Office for deposit).
- Please be sure to complete “Additional Comment or Instruction” area of this form. Include a brief description of the deposit (this will be used to memo the deposit in the system).
With new deposit requirements from JP Morgan Chase we are now required to provide them with more specific information. Please understand that your help is needed to complete these transactions without delay.
We reserve the right to refuse/return any deposit that is not in compliance. If you have any questions please feel free to contact us in advance at ext. 3114.
Checks & Cash
- All check batches (more than one check) must be accompanied by an adding machine tape. The Business Office will run a tape at the time of presentation to insure accuracy and must match your tape (using excel is acceptable if your department does not have an adding machine).
- Write your GL account number on each check. If the bank returns it (bounced check) we will need to know which account it originally went into (this is particularly important when depositing checks as a batch).
- Any starter checks submitted for deposit must have the name and address of the maker written on them for identification purposes. If the check is returned with no identifying information on it, we will not know who to contact and the funds cannot be collected.
- Check deposits must be made as soon as possible. It is not acceptable for a Department (or any staff member of a Department) to hold checks for more than a week. Any checks presented to the Business Office dated by the maker older than 30 days will be rejected and it will be the responsibility of the Department to collect new payment from the maker if the Department wishes to receive those funds for the purpose for which they were originally collected.
- Please make sure each check is made out to Drew University. If it is made out to a person, that person must endorse the back of the check. It is not good practice to make checks out to cash and should be discouraged.
- Please do not staple checks to paperwork or send checks with staples in them.
- Any large volume coin deposits must either be rolled or exchanged for cash (i.e. Coinstar machines or the TD Banknorth coin exchanger).
- All deposits presented before 4pm will be posted to the same day’s activity. Any deposits that are submitted after 4pm will be posted to the next business day’s activity.
FIRST : Use of credit cards for Departmental payments must now be approved prior to offering use of and collecting card information for your event/purpose (it costs the University fees to process credit card transactions). Do not assume that approval will be granted for this mode of payment (even if it has been used previously). Email your request to offer credit cards as a form of payment for your event/purpose to email@example.com with “Request for use of credit cards” in the subject line.
Only after securing approval to collect credit card payments please consider the following:
- All credit card transactions must be a minimum of $10. Please submit transactions in batches by type of card (MC, VISA, and AMEX).
- Please remember that we cannot accept Discover for departmental deposits (only MC, VISA, and AMEX).
- All credit card deposits presented before 4pm will be posted to the same day’s activity. Any deposits that are submitted after 4pm will be posted to the next business day’s activity.
- Large volume credit card deposits can be left with the Business Office and will be processed as soon as possible. The Business Office will notify you when your deposit is finished and you can pick up the receipt(s) or request that we send them to you via Campus Mail.