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Business and Financial Policies and Procedures

5.3.1 Process Student Deposits in Banner

Policy Statement

Units collect deposits for a variety of reasons such as equipment lease, enrollment placeholders, or housing security. Because amounts held as a deposit are not revenue, they are recorded in the general ledger, not in the operating ledger. All deposits are handled as payments made in advance by cash, check, or credit card.

The deposit process contains three stages:

  • Held
  • Returned (refunded or applied)
  • Forfeited

Each month units must review and reconcile detailed transaction and balancing reports to monitor their deposit activity and ending balance at each stage.

Procedure

To process deposits in Banner:

  1. Before you require a deposit, ensure that you have a C-FOAP to be used through all three stages and a unique Detail Code to be used in the returned stage. If you do not have a unique Detail Code, submit a Detail Code Request form.
    • For the Fund portion of your C-FOAP use a unique Fund Code (must be Fund Type "2N" which identifies Student Deposits and Other Deposits, or 3J, 3M, or 3Q which identify self-supporting activities). If you need a new Fund, submit a Fund Program Index Code Request Form.
    • For the Account portion of your C-FOAP use one of these Account Codes:
      • 61800 Deposits-Student
      • 61801 Deposits-Law
      • 61810 Deposits-Other
      • 61811 Deposits-Events
    • Make sure the Detail Code is tied to the C-FOAP.
  2. Held Stage - When you receive payment, deposit it with University Student Financial Services and Cashier Operations (USFSCO), and record it in Banner using the C-FOAP in Step #1. If you receive payment by:
    • Cash or checks, you must be approved by USFSCO as a cash handling unit.
    • Credit cards, you must also be approved by Merchant Card Services as a merchant card unit.
  3. Returned Stage - When the terms of the deposit have been met, follow the steps in 5.3.2 Return Student Deposits in Banner AR.
  4. Forfeited Stage - If the terms of the deposit have not been met, contact University Accounting and Financial Reporting (UAFR). UAFR will transfer the forfeited deposit to the System's Income Fund. Work with your campus Budget Office to request state fund budget in the amount of the forfeiture.

Forms Used in this Procedure

Detail Code Request
Fund Program Index Code Request

Related Policies and Procedures

10.3.1 Deposit Cash and Checks with USFSCO
10.1.1 Obtain Approval as a Cash Handling Unit
21.1.2 Become a Merchant Unit
5.3.2 Return Student Deposits in Banner AR

Additional Resources

What are self-supporting funds? in Self Supporting Fund FAQs
For information about how student accounts receivable are set up, consult FAQ#1

Last Updated: August 1, 2012 | Approved: Senior Associate Vice President for Business and Finance | Effective: March 2010

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