1. finance
2. bank
3. bank account

Enterprise Business Systems
CASH RECEIPTS
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu LESSON 1: INTRODUCTION
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu CASSH RECEIPT E‐DO
OC FEATU
URES
ƒ Cash Receipts are among the few e‐docs that can bypass Fiscal Officer approval.
ƒ Organizational units will deliver funds with e‐doc cover sheet to the Cashier's Office for deposit.
ƒ Cashier’s office will retrieve the e‐doc within the system, reconcile funds received and approve the e doc
received and approve the e‐doc.
ƒ All approved e‐docs will process nightly.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu CASH REECEIPT E‐‐DOC FEATURES (CONTD.)
E‐Doc discrepancies
The Cashier’s Office will notify the initiator of any discrepancy. Organizational units will then have the following options:
ƒ The Cash Receipt e‐doc will be approved if the unit brings in or picks up the The Cash Receipt e‐doc will be approved if the unit brings in or picks up the
currency amount in question.
ƒ The Cash Receipt e‐doc will be disapproved if the initiator wishes to submit a new e‐doc for the correct amount.
ƒ The Cash Receipt e‐doc will be disapproved if the unit wishes to pick up the actual deposit and start the process over.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESS OVEERVIEW
Organizational Unit collects payment for goods/service
E‐doc preparer creates either the Cash Receipt or Credit Card Receipt e‐doc
Card Receipt e
doc.
When the e‐doc is submitted, it is routed to next person/
it is routed to next person/ group in the process chain.
All approved e‐docs will process nightly.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu EXPEN
NSE ABATTEMENT
ƒ The Cash Receipt document is also used to record expense abatements. ƒ EXAMPLE: The university received a check to refund a conference registration fee. In the Accounting Line tab, enter the account and expense object from which the funds were originally paid and enter the amount as a negative number. Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu EXPPENSE ABBATEMEN
NT (CON
NTD.)
Negative Numbers on Expense abatements
ƒ Because an expense object code is being used with a negative amount, the system credits the expense object code, returning the funds to the account from which they originally came
account from which they originally came.
ƒ The original expense must be recorded as a negative expense to correct itself appropriately.
The negative amount in the Deposit e‐doc
doc offsets the original debit, offsets the original debit
ƒ The negative amount in the Deposit e
making the transactions a net zero amount.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu LESSON 2: CASH RECEIPT E‐DOC PROCEDURES
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PRROCESSIN
NG A CASH RECEEIPT
Main Menu
ƒ The Cash Receipt e‐doc is located in the Transactions area of the Main Menu screen.
ƒ Click Cash Receipt to display the e doc
e‐doc. Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CONTD
C
.)
Main Menu
The Cash Receipt e‐doc has four primary sections:
1. Document Overview
2. Cash Reconciliation
3. Check Detail
4. Accounting Lines
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CCONTD.)
Step 4 ‐ Completing the Cash Reconciliation tab Selecting the Individual Checks/Batches option:
ƒ The Cash Reconciliation tab is where you record the total amount of funds received in the form of cash and checks.
ƒ Checks can be logged individually or by batch entry using the Individual Checks/Batches option from the Total Check Amount drop‐down field.
option from the Total Check Amount drop down field
ƒ To log all checks as a complete sum, use the Total Only option from Total Check Amount drop down field.
ƒ For this example, we will use the Individual Checks/Batches
For this example we will use the Individual Checks/Batches option.
option
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CCONTD.)
Step 5 ‐ Completing the Currency and Coin Detail tab
Itemizing currency (coins and notes):
The Currency and Coin Detail tab is where you record the number of each unit of currency received
currency received.
In the example below, we have logged
ƒ three one hundred dollar notes
ƒ one fifty dollar note
fift d ll
t
ƒ one twenty dollar note
ƒ two twenty‐five cent (quarter) coins
Wh
ll
h d h k
t d th f
ill l l t th t t l
t
When all cash and checks are entered, the form will calculate the total amounts based on the values entered.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CCONTD.)
Step 5 ‐ Completing the Check Detail tab
Check Detail fields:
ƒ The Check Detail is only displayed when the Individual Checks/Batches The Check Detail is only displayed when the Individual Checks/Batches
option is selected in the Cash Reconciliation tab.
ƒ In the add field, type either the batch reference or the individual check number (check with your organizational unit for specific instructions).
number (check with your organizational unit for specific instructions).
ƒ Tab to the Date field. The date can be entered manually using the MM/DD/YYYYY format, or simply click the calendar icon and click the correct date.
ƒ Tab to the Description field and type a description for the check/batch# referenced. ƒ Tab to the Amt field and enter the amount, then click the add button to ti
continue .
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CCONTD.)
Step 5 ‐ Completing the Accounting Lines tab
Accounting Line Details:
ƒ The example below shows a completed Accounting Line for the transaction.
ƒ The Chart
The Chart Field contains a drop
Field contains a drop‐down
down menu to select the correct chart code.
menu to select the correct chart code.
ƒ Both the Account Number and the Object fields can be either completed manually or a look‐up function is available to display a list of acceptable entries in these fields. The Line Description field is optional. ƒ Next, enter the dollar amount for the accounting line in the Amount field.
ƒ The final step is to click the “add” button.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CCONTD.)
Additional Features ‐ Total Only versus Individual/Batch Check Processing
Cash Reconciliation tab:
ƒ If you choose not to enter checks individually or in batch entries, select the Total Only option from the Total Check Amount drop‐down menu.
ƒ Choosing this option will eliminate the need to complete the Check Detail tab.
tab
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu PROCESSSING A CASH REECEIPT (CCONTD.)
Additional Features ‐ Collecting and Reporting 6% Michigan Sales/Use Tax
ƒ Some organizational units must collect 6% Michigan State Sales or Use Tax on the amount of their reported sales.
p
ƒ To account for sales tax collection, an additional accounting line must be created using the detail contained in the Sales Tax? Help screen which can be launched from the top of the Accounting Lines tab.*
* Please note – the sales tax amount must be computed manually by multiplying all taxable items by .06 and adding the tax subtotals to arrive at a total tax amount to be entered into the tax accounting line
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu ROUTING THE CURRENCYY
Step 7 – Submitting the currency and Cash Receipt e‐doc After the document is submitted, the next step is to print the Cash Receipt Cover Sheet.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu CAASH RECCEIPT CO
OVER SHEEET
ƒ A printable version of the Cash Receipt e‐doc will open. ƒ The Cash Receipt Cover Sheet is sent with the cash and checks to the Cashier’s Office.
ƒ Please contact the Cashier’s Office or refer to the Manual of Business Procedures for instructions on cash and check preparation. Deposits improperly prepared may be disapproved.
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu QUESTION
NS
The EBS Support site, at ebs.msu.edu, contains a wealth of information about EBS, such as:
ƒ Training materials.
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ƒ FAQ (Frequently Asked Questions).
FAQ (F
tl A k d Q ti )
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Th
MSU EBS S
t P th
i published as needed
bli h d
d d and contains timely information about EBS.
d
t i ti l i f
ti
b t EBS
The MSU EBS Support Pathway is
You can also call the Service Desk at (517) 884‐3000 or email them at [email protected].
Copyright ©2010 Michigan State University Board of Trustees ebsp.msu.edu 19