AUDITOR & USC POLICY REQUIREMENTS FOR DEPOSITS

Per auditors' and University of South Carolina Policy requirements, the following guidelines are for deposits being made in the USCA Finance Office. Deposits that do not meet guidelines will be returned to the submitting party to be corrected.

1. Collections of more than $50.00 in a day must be deposited immediately. If under $50.00, the deposit may be made weekly. Deposits and/or checks must not be held for over a week under any circumstances.
2. A Transmittal form must be submitted by depositors. Appropriate account number(s) to be credited must be listed (INCLUDING THE REVENUE CLASS CODE). Transmittal forms are available in the Finance Office.
3. University of South Carolina receipts (states "Special Receipt" at the top) must be written for all cash, check, money order or credit card transactions that are going to be deposited into a University account.** Receipt numbers corresponding to a deposit (including voids) must be listed at the top right-hand corner of the transmittal form and the pink copies (with a total tape) must be attached to the transmittal form. The next deposit should start with the next receipt number in your receipt book. Used up receipt books should be turned in to the Finance Office.
4. Checks must be double-taped unless each check is listed (name, check number, amount) on the transmittal form--then a single-tape will suffice.
5. Checks MUST BE made out to USC-AIKEN and stamped with USCA's bank account number. If someone does write a check to a club name, etc. the check must be endorsed with that club name, etc., before it is stamped. Stamps can be ordered from the Finance Office.
6. When your deposit is ready, match your cash, check and credit card total against the total of receipts written. These totals must match! Next, sign your name in the proper place.