As previously announced, UCSF’s cash operations transitioned in June from a single main depository bank account to four separate bank accounts. This strategic change aims to manage accounts receivables more efficiently by enhancing the identification, management, and oversight of unapplied cash. This month, the Controller’s Office is implementing three key updates in support of this transition.
1. Unclaimed Payments List Report Modifications
The Unclaimed Payments List in Box now features individual tabs for each bank account. The updated format is intended to speed up payment tracking and reconciliation by allowing cash handlers to focus on the transaction types used by their department.
Until all customers are remitting payments to the new bank accounts, some payments may not promptly appear under the expected bank account tab. In such cases, check the tab corresponding to the former main depository bank account, now identified as “CGA”.
2. Scanner Account Updates
Starting July 1, 2024, all check deposit scanners will reflect new bank account selections. Additionally, Cash and Controls team is currently conducting an audit of users for remote scanners to ensure records are up-to-date and accurate.
Actions Required by Departments:
- Ensure the correct bank account is selected when depositing checks using scanners. Refer to the June Controller's Office Newsletter announcement for updated lockbox information.
- If not already completed, promptly request new bank deposit slips following the process outlined on the “Requesting UCSF Deposit Supplies” resource page.
- Encourage customers to use designated lockboxes for check payments.
3. Touchnet Transition
Effective July 1, 2024, the Cash and Controls team will transition Touchnet transactions to the new bank accounts. Changes will be implemented entirely on the back end, so there is no need for users to take any action or make any adjustments.
These updates are part of our continued efforts to streamline cash handling and payment processing and to improve the efficiency of our accounts receivable processes.
If you have questions or need assistance during this transition, contact the Cash and Controls team at [email protected].