Provides support for broadly defined activities such as professorships, scholarships, fellowships, traineeships, research and instructional programs. The donor may restrict the use of the funds to a specific program area or purpose.
No detailed fiscal or technical reports are required, either periodic or final. However, the principal investigator may provide the donor with a brief summary of the supported activities and a statement that expenditures were made in accord with the intent of the gift.
Rights to any patents or copyrights are not claimed by the donor.
No provisions, such as delays or advance notice, are imposed by the donor concerning publication or dissemination of data and information derived from the activity.
The funding is voluntary and irrevocable by the donor.
Deans, Directors, and staff dealing with revenue.
Receipts are to be deposited to the same funding source from which expenses are paid. Receipts from the sale of goods or services to an internal customer are recorded as an internal sales credit. For department program revenue funded, use revenue codes. For department GPR funded, record the receipt as an external sales credit. Check receipts are deposited by using the Check Deposit Form. Cash receipts are deposited using the “Cash Only” Deposit Form. For sites using deposit slips, use the deposit slips issued by Cash Management along with plastic bank bags. To order deposit slips use the Bank Deposit Slip form. To order plastic bank bags use the Plastic Bank Bag Order Form.
The State of Wisconsin does not permit the recording of receipts on GPR funds. Record all revenue from sales as sales credit to the appropriate sales credit account code. See the complete list of GPR funds.
Sales and services of an Program 8 auxiliary enterprise should be recorded as receipts, regardless of the source of the revenue. Use the general rule for recording all other Fund 128 programs.
Trust Fund receipts should be recorded as receipts to fund 161 or 162 only by UW System Trust Funds Office staff. Send checks to University of Wisconsin System Trust Funds, 780 Regent Street, Madison, WI 53715; ATTN Trust Funds.
Refund of Expenditures should be recorded as negative expenditures to the funding source and account code for the original expenditure to which the transaction relates. For deposits relating to prior year Fund 101 expenditures, use the following funding string: Fund 131, Project 131A006, program code R, account code 9209. Prior year credits shall be handled according to Check Deposit Form and Instructions or “Cash Only” Deposit Form and Instructions.
|Fund Number||Coding for Credit|
|101, 102, 103, 104 account code 2||Refund of expenditure coded to: Fund 131, Project 131A006, Program Code R, Account Code 9209|
|104, non-account code 2||Refund of expenditure coded to: Fund 132, Project 132A006, Account Code 9209|
|105, 106, 107, 108, 109, 116, 117, 118, 119, 174, 175, 176, 178, 301, 402, 403, 406, 501, 601||Refund of expenditure coded to: Fund 100, Dept 980100, Account Code 9209|
|114||Refund of expenditure coded to: Fund 122, Project 122A006, Account code 9209|
|177||Refund of expenditure coded to: Fund 186, Project 186A006, Account code 9209|
|126, 166, 167, 168, 185, 325, 528||Deposit to the original fund using revenue account code 9209|
|110, 111, 112, 113, 120, 121, 123, 124, 125, 127, 128, 129, 129, 130-138, 135, 142-152, 161, 163, 182, 183, 184, 187, 188, 336, 350, 530, 533, 620||Refund of expenditures coded to the same funding string as the original expense|
Note-prior year vendor refund checks against purchase orders still open in the current fiscal year will be coded to the current funding with the exception of GPO pool funds (determined by voucher date)
CREDIT MEMOS ONLY
Prior year credit memos against closed purchase orders will be coded to the original funding source.
Prior year credit memos against open purchase orders will be coded to the current funding.
University departments are responsible for collection and deposit of sales tax. University departments are liable for penalties assessed for failure to report and collect sales tax. When depositing checks use the Check Deposit Form to help identify and collect sales tax. When depositing cash use the “Cash Only” Deposit Form to help identify and collect sales tax. When deposits are made electronically by credit cards or wire/ACH use the Receipt/Sales Credit Transfer Form to identify and collect sales tax. When deposits are made using deposit tickets, check scanning equipment or using Cash Management as an customer invoice collection site, use the Receipt/Sales Credit Transfer Form to identify and collect sales tax. Based on what departments identify and collect for sales tax, Cash Management reports, process and submits monthly collection of sales tax to the Department of Revenue.
Remember when reporting taxable receipts, report gross receipts on the check deposit form, cash deposit for, receipt/sales credit transfer form and identify the appropriate taxable county code.
For procedures related to accounts receivable invoicing, please see Accounts Receivable Invoices. University of Wisconsin Systems
Administration Polices can be found at UW System Administrative Policy SYS 326, Collections and Write Offs.
Any department providing goods or services not yet paid for must issue an invoice to its customers and develop an accounts receivable system for billing and tracking customer payments.
An accounts receivable system must be operated on a consistent basis and bill monthly in order to ensure recovery of receivables. Regular invoicing requires pre-numbered invoices issued in chronological number order. Invoices are issued in chronological order in order to reduce the likelihood of lost charges from nonpayment on services performed. Copies of all invoices must be maintained for six years plus current year in chronological number order along with supporting documents for record retention purposes, audit trails and follow-up inquires. Effective maintenance of an accounts receivable system requires consistent, timely follow-up on unpaid invoices.
Any invoices not collected within 30 days are considered past due. Once an invoice is past due, follow accounts receivable collection procedures.
For those departments who do not use their Dean’s/Divisional office for central collections and they do not have adequate separation of duties, please contact Cash Management for discussions on options listed below. Send e-mail to email@example.com.
All accounts receivable invoice forms sent to Cash Management for deposit must meet the invoice numbering and financial coding standards in order for Cash Management to identify receipts. Please work with Cash Management for review and approval before using Cash Management as a customer payment location.
Please note: Check with your Dean’s/Divisional Office and Department to receive information on internal policies and procedures related to revenue collections.
Deposits can be made at armored car drop off sites or directly at US Bank. Bank Deposit Slips are ordered through US Bank and are preprinted with the bank routing and deposit bank account number. There are a special set of numbers on the bottom of these bank deposit slips which Cash Management staff uses to identify individual deposits on the daily bank statement. Please provide Cash Management with one string of funding code which will be used for your department to collect all revenue related to this set of deposit tickets.
On the plastic bags print or attach a label with only the following information:
Note: On the plastic bag, do not write the deposit amount or the bank account number.
Please write the bag number on your deposit ticket. Send the original (white) to the bank with your deposit and keep all others for your records. Tear off the stub which has pre-printed bag number information. Keep this stub and indicate the date of the deposit, amount, and the last 4 digits of the bank account number (if known).
When dropping off your deposit bag at the pick up location, write the bag number on the armored car service log sheet along with the other information the log is requesting. Each drop off site may have their own procedures in place for filling out the log.
Once the above procedure is followed, we will no longer need to have plastic bags returned. As of February 1, 2010, US Bank will not be returning deposit bags back to the departments. Let Cash Management know if you have any questions.
If a department needs to record sales tax for receipts deposited and/or for receipts being to transfer to different department funding, please use the Receipt/Sales Credit Transfer Form to distribute these funds along with accurately reporting and collecting sales tax.
|County Name||Code||Tax rate||County Name||Code||Tax rate|
|Fond du Lac||Saint Croix||55||5.5|
To deposit checks, use the “Check Deposit Form” and attach checks. Deliver or send packet to Cash Management at 21 N Park Street, Suite 5301.
Never send deposits through campus mail. Steps are as follows:
To deposit cash, use the “Cash Only” Deposit Form and attach cash in a sealable envelops. Hand delivers the form and cash to the Bursar’s Office at 333 East Campus Mall, Suite 10501. Never send cash deposits through campus mail.
All deposit will be counted in the presence of two people and validated. Original deposit sent with deposit form and/or deposit slip, another copy of the deposit kept with the department for deposit records, and a third copy sent to department reconciler.
UW-Madison departments may choose to deposit checks by using On-Site Electronic Deposit (OED). Departments that choose to utilize OED are required to:
Implementation of the check scanning equipment, computer application and internet connection must be approved by the department or Division/Dean’s Office. An implementation schedule will be reviewed and approved through Cash Management with input from Office of Campus Information Security (OCIS).
To obtain and/or update US Bank SinglePoint access for On-Site Electronic Deposit of Checks, complete the Bank Account Website Access (SinglePoint) form, which includes the Check Scanning set up form.
Workstations with attached electronic check scanners must follow these requirements:
This form is used when your department is expecting either an Incoming International Wire/ACH or an Incoming Domestic Wire/ACH.
When your customer is asking to make payments by Wire/ACH, instruct them to include your Department ID and Invoice number in the Wire/ACH reference/memo field. See Wire – Incoming Department Wire/ACH Form for procedures on notifying Cash Management and requesting bank information. Use the memo field on the bottom of the form to request bank information.
To initiate a refund back to the source who sent the receipt, use the Refunds of Receipts/Sales Credits form. Send the approved, signed form back to cash Management at Accounting Services, 21 N. Park St., Suite 6101, Madison, WI 53715-1218.
To correct the coding on a prior deposit use the Receipt/Sales Credit Transfer Form and send to Cash Management, 21 N Park St., Suite 6101, Madison, WI 53715-1218.
Many departments have receipts and refunds because of the sale of goods and services, gifts, and grants. Cash receipts from a large variety of sources and for a wide range of purposes require that departments use proper accounting procedures. This chapter focuses on accounting procedures for cash receipts. Refer to the policy on revenue producing activities which includes instructions regarding revenue from non-University sponsored activities.