Difference between revisions of "Receiving Revenues"
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[[Image:Chequedeposit.png|220px|right|thumb|A filled-out deposit slip with a cheque receipt attached.]] | [[Image:Chequedeposit.png|220px|right|thumb|A filled-out deposit slip with a cheque receipt attached.]] | ||
When you have filled out the deposit slip, detach the pink slip (it’s a carbon copy). This is your receipt, which you should keep in your records. DO NOT detach the white slip on top. When depositing a cheque, you must attach the cheque stub to the top white copy. If there is no stub, then you must make a copy of the cheque and attach it. <br> | When you have filled out the deposit slip, detach the pink slip (it’s a carbon copy). This is your receipt, which you should keep in your records. DO NOT detach the white slip on top. When depositing a cheque, you must attach the cheque stub to the top white copy. If there is no stub, then you must make a copy of the cheque and attach it. <br> | ||
| − | <center style="font-weight:bold; font-size:16px;color:#006400;">{{pull quote|You must attach a cheque copy/stub ''on the back'' of the white deposit slip}}</center> | + | <center style="font-weight:bold; font-size:16px;color:#006400;">{{pull quote|<center>You must attach a cheque copy/stub ''on the back'' of the white deposit slip</center>}}</center> |
Next, seal the deposit envelope, and put it in the drop safe. The drop safe is located in the closet as you enter the EUS Office on the right. Place the envelope in the safe, turn the wheel, and make sure that it dropped through. Your deposit will be processed within two weeks of you submitting it, and it should be in your accounts between two and four weeks after being processed. The location of the safe can be seen below: | Next, seal the deposit envelope, and put it in the drop safe. The drop safe is located in the closet as you enter the EUS Office on the right. Place the envelope in the safe, turn the wheel, and make sure that it dropped through. Your deposit will be processed within two weeks of you submitting it, and it should be in your accounts between two and four weeks after being processed. The location of the safe can be seen below: | ||
Revision as of 20:50, 27 December 2016
The main sources of revenues come from student fees, event tickets, or sponsorship. Many revenues will be deposited in your account without you ever seeing them, such as student fees (for departments), MESC funding, and any other revenue that is mailed directly to the EUS. We will try to inform you when something has been received, but you should make sure you check your accounts every now and then to find out about these, or ask the VP Finance about specific payments. In addition to these deposits that come in automatically, there are many that you will need to deposit yourself. These consist of cash or cheques that you collect personally for events, fundraisers, and other initiatives that you coordinate.
Deposit slips
In the EUS Office, there are deposit slips located in the rack on the right as you enter (see photo to the right). A few of the fields on the deposit slip are a little unclear. You should make sure that you include your name, the name and number of the account you are depositing to, the date, and a few words to describe what the deposit is for. The description is important, because our bookkeeper will use it to determine whether taxes should be remitted, which affects your revenue flow. The image below shows a properly filled out deposit slip.
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Acceptable deposits include cash, coins, and cheques. When depositing a cheque, you must attach the cheque stub to the top white copy. If there is no stub, then you must make a copy of the cheque and attach it. Please ensure that coins are submitted by the roll when there are sufficient coins to make a roll. There are spare rolls in the EUS Office – ask Dianne during business hours. Deposits should be made only in Canadian currency. With the exception of US coins, do not accept foreign currency, unless you want to try to sell it.
Submitting the Deposit
When you have filled out the deposit slip, detach the pink slip (it’s a carbon copy). This is your receipt, which you should keep in your records. DO NOT detach the white slip on top. When depositing a cheque, you must attach the cheque stub to the top white copy. If there is no stub, then you must make a copy of the cheque and attach it.
| “ | <center>You must attach a cheque copy/stub on the back of the white deposit slip | ” |
Next, seal the deposit envelope, and put it in the drop safe. The drop safe is located in the closet as you enter the EUS Office on the right. Place the envelope in the safe, turn the wheel, and make sure that it dropped through. Your deposit will be processed within two weeks of you submitting it, and it should be in your accounts between two and four weeks after being processed. The location of the safe can be seen below: