Cash Receipts - Processing and Tracking

The Cash Receipts System is managed by Student Business Services (SBS) in Lubbock. SBS is responsible for processing all TTUHSC cash receipts from all sources into the Finance System. It is their role to review submitted or intermediate approved cash receipts to ensure the validity of information and completeness of documentation before their final approval. The time it takes for a submitted Cash Receipt to be approved by SBS and posted to your departmental funds may vary. Delays by the intermediate approver, insufficient or missing supporting documentation, and weekend, holiday or inclement weather delays will increase the number of days required for final approval by SBS. The normal processing times, with the exception of delays as defined above, are outlined below:

Processing for Lubbock Departments:
Day 1: Preparer submits the Cash Receipt to SBS and places the deposit and supporting documentation in the drop box.
Day 2: Deposits are picked up by Armored Car Service.
Day 3 and 4: Deposits are delivered to SBS. If supporting documentation is complete, SBS approves the Cash Receipt and posts to departmental funds. Deposits, including credit cards, must be verified with the bank which can take 2-3 business days from the settlement date.
Day 5: Armored Car Service picks up the deposits and delivers to the bank.

Processing for Regional Campus Departments:
Day 1: Preparer submits the Cash Receipt and sends the deposit to the bank.
Day 2 and 3: Approver matches the Cash Receipt to the bank deposit, approves the transaction and sends an email to SBS with supporting documentation.
Day 4 and 5: SBS reviews the Cash Receipt and supporting documentation and if complete approves and posts to departmental funds.

Why Am I Getting Emails From the Cash Receipts System?
If a Cash Receipt is not approved and processed by SBS within five days of submission, the Cash Receipts System sends the depositor and intermediate approver a daily email. If the Cash Receipt remains unprocessed after ten days, the fund manager for all funds included on the Cash Receipt is added to the daily emails. In both cases, emails will continue until the Cash Receipt is approved and processed in SBS.

Departmental Responsibilities:
See HSC OPs 50.07 and 50.26. Departments are responsible for:

• Timely deposit of cash and checks, entry and approval of Cash Receipts.
• Proper documentation and response to questions from SBS about Cash Receipts.

It is important that deposits to the bank and submittals of cash receipts are prompt. The timeliness of submittals can impact reconciliations, cash controls, and allocation of interest earnings. Interest is allocated to FOPs based on the day the receipt is recorded in the financial system (Banner), not the date it is deposited at the bank.

Tracking

You can track the progress of a Cash Receipt using the Status History feature in the Reports section of the Cash Receipts System. The report will show the Status of the Cash Receipt and the Date-Time. The Changed By column indicates the name of the depositor, and, if approved, the name of the intermediate and final approver.

If you do not know the intermediate approver, use the Intermediate Approvers report in the Reports section of the Cash Receipts System to find the appropriate intermediate approvers for the bank code used in the Cash Receipt.

For questions, email Student Business Services at SBSCashReceipts@ttuhsc.edu, or call 806-743-7867.