Finance and Business Manual

702.1 Receipts, Overview

A receipt is a document acknowledging the receipt of money. Receipts issued by the University show the name of the payer, reason for payment, date, amount paid, ledger account code(s) and amounts to be credited, and debit entries such as bank charges where applicable. If a debt to the University is being paid, the receipt will also show the debtors number and the invoice number.

An official University receipt is prepared and issued for all amounts paid to the University. For student fee payments, the fee payment slip incorporates the receipt. For cash sales at points using cash registers, the receipt is the cash register docket.

Certain areas of the University are permitted by the Senior Accountant to consolidate a series of payments received into a single official receipt form (e.g. all cash register transactions made at a receipting point on a particular day, and student fee payments). The issue of 'interim' receipts and non-official receipts for amounts paid to the University is not permitted.

2.1 Responsibility of Receipting Clerks

Receipt Clerks within the University are authorised to issue official University receipts on behalf of the Senior Accountant.

Persons appointed are to be responsible members of the staff of the University.

A Receipts Clerk is primarily responsible for losses, deficiencies and discrepancies in money collected. A Receipts Clerk collecting money is responsible for that money until such time as it has been transferred to another officer.

Moneys must be locked away when the Receipts Clerk is absent from the office.

When there is a changeover from one Receipts Clerk to another, it is the responsibility of the relieving Receipts Clerk before taking up duty to:

count the cash already received, and
agree this with the receipts already written.

Cash floats and keys taken over are also to be checked.

2.2 Revenue Collection and Security

2.2.1 Overview

Overall arrangements covering the collection and security of University income are the responsibility of the Senior Accountant. Security measures and the management of receipting points when approved by the Senior Accountant are the responsibility of appropriate Business Officers. With the implementation of the locked bag system and the use of ANU Security officers, collection procedures were slightly modified.

Moneys received should be kept in cash registers, approved cash tins or cash drawers, or security cabinets in a secure office space during normal working hours. Outside normal working hours, all moneys on hand and receipt books are to be locked in a safe.

2.2.2 Bank Deposits

All moneys received by the University are to be banked during the next bank working day, where practicable. Large amounts of money (e.g., grants, notably Australian Government Grants) are to be banked on the day they are received. Large collections of student fees must also be banked during the day of receipt. Officers responsible for the receipt and banking of cash are, in particular, to observe the provisions for safeguarding University moneys.

All moneys are to be banked intact, without any deduction being made from amounts received. Personal cheques must not be cashed from moneys received.

Any discrepancy in moneys collected or banked is to be reported immediately to the Senior Accountant.
The policies prescribed in this Manual also apply to moneys collected and banked in accounts other than the General Account.

2.2.3 Cash Collection

Collection activities are co-ordinated by the Ledgers Section of Financial and Business Services. Collections of moneys from receipting points are made on a regular, scheduled basis by Ledgers staff (refer below). Some minor collection points are cleared on an 'as required' basis. A few University activities, including those at locations distant from Canberra, are permitted to undertake the collecting and banking of revenues received.

Cash collection times are from 9.30 - 10.30am, Monday to Friday. For security reasons, alternate routes will be taken each day and as such the arrival of the collection officers may vary. Please ensure that there is someone present in your office during this time that can hand over the locked bag to the collection officers. If this is not possible, please contact Finance and Business Services on extension 8764 as soon as possible.

All collection points should keep a record of bags collected. This record should include such information as the date of collection, deposit run number, deposit amount, bag number (if applicable), name and signature of the person collecting the bag.

Receipting points who do not have a specified day for collection should arrange their collection for either Tuesday or Thursday, where possible, to alleviate the problem of collections outside the 9.30 to 10.30 time frame. These two days have fewer collections in comparison with Monday, Wednesday and Friday.

Receipting points who receive a small number of cheques only, can choose to deliver their locked bag directly to the National Australia Bank. The bag would then be available for collection from the bank on your next delivery.
Where your takings have exceeded $2,000 but you are not scheduled for a collection, please prepare a deposit run/slip and call Sam (ext 8760) or Maria (ext 8764) for a special collection the following day.

For would be thieves out there, the vehicle used for the pickup is a red Ferrari with white spots and rego YEAH-RIGHT.

2.2.4 Locked Bag Preparation

When multiple deposits are contained in the one bag please ensure that each deposit is contained in a separate envelope within the locked bag together with the related deposit slip and deposit run printout. Notes should be sorted by denomination and collated with the notes all facing the same way before placing in Locked Bag.

Coins should be placed into separate coin bags for each denomination. When the value of coins exceeds the value stated on the coin bag, a separate bag should be used for the excess. Extra coin bags can be ordered by placing a note in the locked bag indicating the number and denomination required. They will be delivered on the next collection.

The name of the person preparing the deposit should be written on the deposit run listing to faciliate follow up enquiries when deposited monies do not agree to the amount on the deposit run.

2.3 Missing moneys

When University moneys are found to be missing, the appropriate Business Officer will prepare a confidential report for the Senior Accountant. The report is to be copied to the Head of School, Section, Centre or Activity and to the Manager, Internal Audit. In situations where it is thought that money has been taken without authority, the Business Officer is to bring the matter to the attention of the police. A recommendation to write-off lost or deficient amounts of money as irrecoverable requires the concurrence of the Senior Accountant.

6. Cancelling Receipts

(For use on the FMIS Receipting System)

You are required to enter a cancellation comment when cancelling a receipt. This comment should give a valid reason why the receipt was cancelled and, if a replacement receipt is issued, the receipt number of the replacement.

Some examples of valid reasons to be used are:

"payment by chq not cash - replaced by 256341"
"incorrect amount - replaced by 256341"
"incorrect payer - replaced by 256341"
"incorrect cheque details - replaced by 256341"
"refund reading brick not available" (only applies to same day refunds)

Inappropriate reasons are:

"I stuffed up"
"I kept money"
"It was his fault"
"I will put the money on horse 2 race 5 at Flemington"

The above examples assume that the replacement receipt is issued prior to the cancellation of the incorrect receipt. This then facilitates the management trail of correction and reissue of the receipt.

If a deposit listing is run on the same day as receipts are cancelled, the cancelled receipts are detailed on the bottom of the deposit listing. This should be reviewed and authorised by the Business Officer or delegated officer as valid.

Please note if there is more then one deposit listing produced before the posting is run only the latest depositing listed needs to be signed as this will show all cancelled receipts for that receipting point for that day.

Feedback: Please direct all comments to FBS-BusinessSolutions@anu.edu.au
The information on this page was updated on 17 Jun,2008.
This page has been authorised by Director, Finance and Business Services as the relevant officer.
URL: http://www.anu.edu.au/finance/manual/700/702.htm

ANU CRICOS # 00120C