Deposits of Domestic Checks with Cash Receipt & Advance Deposit eDocs
The following guidelines apply for the preparation of domestic checks for the daily deposits:
- Two (2) adding machine tapes must be attached to the deposit.
- A single deposit slip can never be accompanied by more than two hundred fifty (250) checks.
- All checks must be accompanied by a deposit slip.
- All checks must be endorsed with the Bank of America endorsement stamp, which has been specifically assigned to your department. The stamps can be ordered through the Cashier’s Office.
- University policy dictates that all checks payable to the university must be deposited with the Cashier’s Office no later than (3) business days after receipt. The university has the right NOT to honor any check submitted to the Cashier’s Office if it is dated over thirty (30) days.
- University policy stipulates that all departments that deposit with the Cashier’s Office must be able to reconstruct their check deposits. By “reconstruct” it is meant that each department must photocopy/scan check deposits in order to identify deposited checks by maker, check number, dollar amount, etc. This will facilitate replacement in the event of loss.
It is the department’s responsibility to be certain the following information is on each check:
- Correct Date
- Customer’s Name, Current Address, and Phone Number
- Correct Amount — both numerically and in written form
- Student USC ID#, where applicable
The bank will return checks for the following reasons:
- Stale-dated (6 months or older, or otherwise indicated on check)
- Signature missing
- Amount difference (written vs. numerical amount)
- Insufficient funds or non-sufficient funds
- Uncollected funds
After all collection efforts have been exhausted by the University Collections Office, items returned by the bank for any of the above reasons will be charged back to the respective departmental account into which it was deposited.
NOTE: Any missing information on checks (e.g., USC ID#, Name, Address, etc.) leads to a higher possibility of the check being charged back to the department or revenue center that made the deposit.
If you have questions or need further clarification on this or any other Banking procedure, we encourage your inquires by calling the Cashier’s Merchant Window at 213-740-2877 (UPC) or 323-442-3040 (HSC).