As previously announced, UCSF recently transitioned its cash operations from a single main depository account to four distinct deposit accounts specific to business functions. As part of this transition, departments are now required to remit all payments to a single Department Accounts Receivable bank account (GL 10101) created exclusively for this function. Payments for sponsored research payments, auxiliary and administrative services, and student accounting are also now remitted to separate bank accounts (see Handling Cash and Checks for more information).
Department Actions Required
UCSF departments that invoice external customers for use of property or receipt of goods or services (other than for UCSF Health, for sponsored projects, and for services rendered by central administrative units to students, faculty, staff, and visitors) must remit all customer payments to the UCSF Department A/R Bank of America lockbox for processing by the Controller's Office Cash Operations team.
- If you receive a check directly from your external customer, send the check to the lockbox and notify the customer to send future payments directly to the lockbox. This step is critical for preventing processing delays.
- Departments should ensure invoicing templates are updated with the new lockbox address for checks and the ACH/EFT details for electronic payments.
- Please utilize the Department Accounts Receivable remittance information to guide these updates.
Departments must follow the Identifying and Handling Unclaimed Payments process to claim and process all payments once received by the bank. Payments received for department accounts receivable invoices must be properly recorded in the University's financial system to credit accounts receivable and debit cash.
- For departments following the Controller's Office Department Accounts Receivable (Dept A/R) process, the Controller's Office Cash Operations Team records payments in the University's financial system; departments should not prepare a cash journal to record payments for Dept A/R invoices submitted to the Controller’s Office for recording in the University’s financial system and distribution to the external customer. For further instructions see Handling Department Accounts Receivable.
- Departments that choose to maintain their own accounts receivable and that do not submit their invoices to the Controller's Office (for recording in the University's financial system and distribution of the invoice to the external customer) must demonstrate the ability to comply with UCSF Policy 300-11, Accounts Receivable (opens in new window) and with generally accepted accounting principles (GAAP). Department accounts receiveable not recorded by the Controller's Office must be recorded by the department via journal entry.
If you have questions or need assistance determining remittance and deposit procedures, contact [email protected].