Check or Cash Receipting and Processing

The procedures outlined below are meant to protect both the University and the employee(s) involved in accepting payments on behalf of the University.

Please consider the following as extremely important:

  1. Whenever possible, use the Business Office as the location for cash receipting functions; i.e. send the students or others over to the Cashiers at Swords Hall to make payments. They are equipped to handle this activity, and have excellent recordkeeping.
  2. When your department or program has to handle checks or cash, please do the following:
    1. Immediately stamp all checks with a restrictive endorsement stamp. These will be provided by the Business Office.
    2. Make deposits regularly – either when receipts exceed $50.00 or weekly.
    3. Be reminded that all checks paid for Bradley activities should be made payable to Bradley University.
    4. Receipts should be deposited intact – in other words – do not use cash received as petty cash.
    5. Bundle each deposit with a calculator tape listing each check and the total of the deposit. If the tape could show the number of checks, so much the better.
    6. Indicate the correct account number and subcode on either each check or on the calculator tape.
    7. Bring to the Cashier’s window in the Business Office.
    8. Discourage cash whenever possible. However, if cash is deposited, please sort the bills by denomination, and arrange all face up in the same order. This will reduce the work for our cashiers.
    9. Keep cash and checks in a locked and secure location while in your possession.

As cash activities and collection points are very important to University operations, we are giving additional attention to these matters through our policy review and internal audit operations. Our procedures have been generally well-adhered to with minimal problems. Your continued assistance with this important matter is greatly appreciated.

Should you have any questions regarding cash procedures or practices, please call Terry Kenny at (309) 677-3490.