Departmental Deposits

FREQUENTLY ASKED QUESTIONS.

How can I set up a deposit procedure for our department?

  • If your department collects large sums of money and/or frequently collects money, deposit tickets can be requested from Cash Management so your department can prepare deposits to be delivered or dropped off at the bank or at an approved armored car pick-up point on campus. To avoid theft or loss, Accounting Services recommends that departments make deposits daily or at least weekly using deposit slips and sealable plastic bank bags.

  • If your department collects money infrequently, deposits can be prepared using the Receipt/Sales Credit Deposit Form to be dropped off and processed by the Bursar’s Office. These deposits should not be sent through Campus mail, especially if they contain cash.

  • Contact Cash Management at Cashmgt@bussvc.wisc.edu at 262-0658 to obtain information about setting up a deposit procedure, to obtain deposit slips and/or bank bag. Additional information is also available on Accounting Services’ web link: http://www.bussvc.wisc.edu/acct/instructions/acslscr.html

I'm not sure what Dept ID, account code, or program code to use.

How can I verify that the bank received my deposit?

  • Logon to the WISDM website and view all fund activity to verify that a deposit has been credited to your department's funding.
    • WISDM information is updated when Accounting Services receives verification that your deposit was received at the bank.

    • Contact Cash Management atCashmgt@bussvc.wisc.edu at 262-0658 if your deposit transaction has not been posted.

How do I handle Return Items?

  • The Cash Management team forwards return items to departments with the fund coding that is being debited.

  • According to UW-Madison regulations set forth by the University of Wisconsin System Administration FPPP, a $20 fee should be assessed for checks not paid by the bank on which it is drawn, and deposited into a 128 fund. You may reserve the right to refuse check payments from students with a history of NSF checks.

Can department deposits be sent through Campus mail?

  • If your department collects money infrequently, deposits can be prepared using the Receipt/Sales Credit Deposit Form, in which case, they need to be dropped off at the Bursar’s Office. Deposit should not be sent through Campus mail, especially if they contain cash.

  • If your department collects large sums of money and/or frequently collects money, deposit tickets can be requested from Cash Management so your department can prepare deposits to be dropped off at the bank or an approved armored car pick-up point on campus.

Can I still drop off my deposit at 21 N. Park St.?

  • There is no longer a general armored car pick-up point at 21 N Park St. To find out where other pick-up points are located on campus, contact Cash Management at Cashmgt@bussvc.wisc.edu Indicate who you are, your e-mail, where you are located, and that you are requesting an alternative drop-off site for 21 N. Park St.

If our deposit drop-off point on campus is no longer convenient, what other sites are available for drop off?

  • Contact Cash Management at Cashmgt@bussvc.wisc.edu Indicate who you are, your e-mail, where you are located, and that you would like to know where other armored car pick-up points are located on campus.

How do we change our current deposit drop-off location?

  • Contact Cash Management at Cashmgt@bussvc.wisc.edu Indicate who you are, your e-mail, where you are located, and what new location you will be choosing.

Can we use plastic bank bags instead of the cloth bags? How do we get plastic bank bags?

What information needs to be recorded on the outside of the bank bag?

  • Provide the following information on the outside of bank bags:
    • Cloth: name and address of your pick-up point (which is where the bag will be returned), your department’s full name, the name of a contact person, phone number, e-mail, and Dept. No. (6-digit code).
    • Plastic: your department’s full name, the name of a contact person, phone number, e-mail, and Dept. No. (6-digit code).

When we drop off bank bags at a drop-off site, how do we get cloth bank bags back?

  • Cloth bank bags are returned to the name and address of the pick-up point indicated on the outside of the bag. Plastic bank bags are not returned. When you drop off your next deposit, check periodically with the staff at your pick-up point to see if any cloth bags for your department have been returned.

If we’re missing one of our cloth bank bags, how do we locate it?

  • Contact Cash Management at Cashmgt@bussvc.wisc.edu . Indicate who you are, your e-mail, where you are located, where the bag was dropped off for the armored car pick up, and the approximate date it was dropped off.