Automated Cash Transmittal Process

Process Overview

SFS Responsibility

Department Responsibility

Process Overview

Departments who are direct depositors may elect to use the automated cash transmittal process. This process eliminates the need for departments to create manual cash transmittals. Funds that are deposited to the bank will show in FIN within approximately 3 business days.

This process is optional for direct depositors to participate in, but using this process can eliminate key punch errors, time delays in deposits showing in FIN and difficulties in reconciling. Additional information regarding this process may be obtained from Bank Reconciliation at bankrec@u.washington.edu , or by contacting Evelyn Jagoring at evelynj@u.washington.edu or 543-8826.

SFS Responsibility

Deposit information is downloaded from both US Bank and Bank of America daily. The downloaded data is used to automatically create a Cash Transmittal (CT) file based on unique deposit slip numbers. The CT file is transferrred to FIN, where you will see the daily credits to your budget. It typically takes 3 business days from the time the deposit is made to the bank until it shows up in FIN.

Reports detailing your daily activity will be mailed to you on a monthly basis for reconciling purposes. At any time, you may request additional reports by contacting saodata@u.washington.edu. Please include your bank sequential number or budget number in the request.

Department Responsibility

A unique code (deposit slip number) will be assigned to each direct depositor. You will select a single budget number which will be credited as deposits are made.

If you need to deposit funds into multiple budgets, you will simply create a weekly or monthly JV which will allocate the revenue from the single budget among the proper budgets.

At the end of each month, Bank Reconciliation will email your department asking if there is tax revenue for the month. Please respond even if no tax was collected for the month.