10.2.6 Reconcile Cash Receipts Monthly

Policy Statement

To ensure all funds are properly accounted for, units must reconcile all deposited and recorded funds monthly.

Procedure

To reconcile cash receipts monthly:

1. Gather the Report of Cash Sales/Money Received forms you submitted each day. (The form used may vary according to campus and unit.)
2. Compare the totals from each of these forms to the monthly Banner transaction report (FGITBAL).
3. Verify that all funds received and deposited were recorded correctly.
4. Reconcile any discrepancies immediately.
5. Document your reconciliation on a reconciliation worksheet and keep in your unit's files.

Related Policies and Procedures

10.2.5 Reconcile Cash Receipts Daily

Last Updated: October 21, 2011 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 2008