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Establishing New Cash Handlers
Handling Checks in Foreign CurrencyFor all checks received payable in foreign currency, take the following actions: Show
The Cash and Controls Team will send the check to Bank of American for deposit via an overnight carrier for tracking purposes. Once the deposit is confirmed (may take 7 to 10 business days), the Cash and Controls Team will send an email notification to the department contact with the converted US dollar deposit amount and deposit date. The department should then process journal entry. Handling Checks Other than for Gifts and Sponsored ProjectsThis procedure applies to checks, money orders, traveler's checks, and certified checks. Deposits must be made once a week or whenever cash and check total is $500 or more, whichever comes first. Customer and patient information must remain confidential.
Ordering UCSF Deposit SuppliesUCSF deposit supplies are ordered through the Cash and Controls Team and shipped directly to your department from Bank of America. To initiate new deposit supplies for your department (endorsement stamp, deposit slips and bags), email the following details to [email protected]:
To re-order deposit slips, email the following details to [email protected]:
If you have questions regarding deposit supplies, contact the Cash and Controls Team at [email protected] Handling Checks Received as GiftsAll gifts to University of California San Francisco or University of California San Francisco Foundation should be sent to the UCSF Foundation’s Union Bank of California Lockbox along with copies of relevant backup documentation for deposit and processed by Gift Administration. Departments should not deposit gifts into the campus ATMs. Mail the completed gift transmittal form and all backup documentation to: Mailing Address UCSF Foundation For gifts sent by courier requiring that a street address is specified: Street Mailing Address Lockbox/Item Processing Operations If you have questions about handling gift checks, contact Gift Administration Customer Service. Handling Cash or Currency Received as GiftsThere is a special process for gifts received in the form of cash or currency:
DO NOT SEND Cash/Currency to Gift Administration! Handling Checks Received for Sponsored ProjectsPayments for all sponsored projects should be sent to the Controller’s Office Contracts & Grants Accounting (CGA) lockbox. CGA invoices sponsors, records each deposit in the UCSF Research Administration System (RAS/PeopleSoft), and works in collaboration with Principal Investigators and their administering departments to ensure the accurate and timely billing and recording of sponsored projects payments. The department must NOT prepare a journal to record sponsored projects payments into the General Ledger. For clinical trials only, departments generating and sending invoices to Sponsors must concurrently send a copy to the CGA Service Desk, [email protected], for entry into the RAS Accounts Receivable system. Departments must take the following steps when payment is received directly from the sponsor for a sponsored grant/contract.
Incoming Electronic Funds Transfer (EFT)Departments can accept electronic transfer as a depository option, either in the form of a wire transfer or ACH (Automated Clearing House).
To ensure accurate and prompt accounting for EFTs, please follow these steps:
On a daily basis, UCSF receives both international and domestic funds in the form of Automated Clearing House credits (ACH) and wire transfers. These funds are deposited into UCSF’s Bank of America account #XXXXX23601 following the steps above and recorded in the UCSF General Ledger (GL) in Account 10110 (Cash-BofA). Funds are often intended for campus departments, and recipient departments often do not know when their funds may be deposited into the campus bank account. See Undistributed ACH/Wire Payments for more information on how to identify and claim incoming payments. Which practice should the medical office avoid when accepting checks from patients?MOD C Week 2. Which of the following is an internal control procedure designed to protect cash receipts?Answer and Explanation: Explanation: A basic internal control procedure is to deposit all cash receipts in the bank shortly after the cash is received. It is common for company's to deposit cash receipts on a daily basis.
Why should the employee who handles cash receipts not have the responsibility for maintaining the accounts receivable records?To reduce the possibility of errors and embezzlement, the functions of operations and accounting should be separated. Thus, one employee should not be responsible for handling cash receipts (operations) and maintaining the accounts receivable records (accounting).
Which of the following is contained in the patient billing record?This includes the name of the provider, the name of the physician, the name of the patient, the procedures performed, the codes for the diagnosis and procedure, and other pertinent medical information.
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