Step

Review any deposit made or to be made to the office bank account.

Responsible Party

Template/Guideline

Explanatory Notes

Verify amount directly deposited to the bank or cheque submitted to the office.

Step

Determine the purpose of the deposit and create a new deposit. 

Responsible Party

Template/Guideline

Explanatory Notes

Prepare standard receipt for deposits related to donor contributions to be applied against billing invoices. For other types of deposits, create a miscellaneous receipt. The accounting date should be same as the receipt date to ensure that the USD converted amount is computed correctly. 

A/R Specialist - Action required in Quantum.

Step

Assign accounting entries for journal deposits.

Responsible Party

Template/Guideline

Explanatory Notes

Full chart fields should be provided where the cash receipt should be credited against.

A/R Specialist - Action required in Quantum.

Step

Verify accounting entries, mark the ‘complete’ check box and budget check.

Responsible Party

Finance staff

Template/Guideline

Explanatory Notes

If budget checking fails, uncheck the complete box, delete the accounting entries and re-enter correct chart fields.

A/R Specialist - Action required in Quantum.