Go to navigation Go to content

CRM 201 - Acknowledgement of Transactions

The policies on this webpage have been streamlined and reformatted, and are now available on the University Policies webpage. We ask that you use this new resource, as future changes, additions to or eliminations of these policies will only be made to the University Policies webpage, and policy manuals you may have used in the past will no longer be updated. 

Written Acknowledgement Required:

For Each Transaction - A written or printed acknowledgment (receipt) must be made immediately for each transaction resulting in the payment or transfer of money to the University. Exceptions other than those made by Campus Business Services require written authorization from the Office of the Treasurer. See CRM 206 - Mail Receipts

Exceptions - Campus Business Services may grant exceptions to the need for printed or written transaction receipts in situations where adequate control is established through inventory methods such as concession stand or ticket transactions.

Number of Copies and Disposition:

Disposition of Customer Copies for Payments Received by Mail - The disposition of these copies is at the discretion of the Campus Business Services.

Minimum of Two Copies Required - One copy is given to the individual tendering payment and the other is retained by the cashier issuing the receipt.

Accepted Forms of Receipts:

Special department sales tickets or receipt forms which provide more than the minimum information or which are more adaptable to department needs may be authorized by Campus Business Services.

Cash Register Tapes - May be used by units having cash registers which produce a customer register tape.NOTE - The audit or internal register tape will serve as the copy to be retained by the Cashier.

Pre-printed Forms - Must be used by units having cash registers which do not produce a customer register tape and by units which do not have cash registers.

As a Minimum, Pre-printed Receipt Forms Must Provide for -

  • Amount tendered (by item)
  • Mode of payment (cash, check, etc.)
  • Name of individual tendering payment
  • Purpose of payment
  • If payable to account, name or number of account
  • Date payment tendered
  • Name, number or initial of the cashier issuing the receipt

Voids and Over-rings:

An incorrectly completed receipt form or an incorrect entry on a cash register must be voided (all copies) and a new receipt form or cash register entry executed.

Special Receipt Requirements:

For Foreign Funds - Receipts issued for amounts tendered in foreign funds are made out using the value of the funds tendered, not U. S. dollars. NOTE - Foreign funds are not generally acceptable for over-the-counter sales. They are acceptable, however, as payment on account, subject to the amount of U. S. dollar value that can be collected in exchange. CRM 304 - Foreign Funds - Exchange and Deposit

For Unidentified Payments - Receipts are completed to the extent of information available.

Note - These payments are not held until identified but are deposited immediately and credited to a special "suspense" account. (CRM 302 - Deposits for Credit).

created: 04-27-04