How to Make a Deposit
We recommend making a deposit immediately after sales/event to avoid loss or theft of your group’s funds!
(Note: Student Organizations are prohibited to keep money in an outside account or hold money in their desk)
Step 1: Obtain a Deposit Slip
Deposits slips are located in the Student Activities Business Office at 226 Curry Student Center.
Step 2: Fill Out the Cash Section on the Deposit Slip
If you are not depositing any cash, skip to Step 3.
Make sure the deposit slip is filled out in its entirety. Count all the bills (ones, fives, tens, etc.) and write the total on the currency line. Count all the coins (pennies, nickels, dimes, and quarters) and write the total on the coin line. Then calculate the total amount of cash (add the currency total and coin total together) and write the total on the total cash line.
Step 3: Fill Out the Checks Section on the Deposit Slip
If your group is accepting checks, make sure the checks are made payable to Northeastern University, and not to your group. Your group’s name should be written on the memo line of the check instead. (Note: for your protection, get all the information you can from an individual paying by check. If the check bounces, you can track it if you have a name, student ID number, address and phone number.) Also, do not endorse the checks. The Student Activities Business Office will endorse each check after the deposit has been accepted. On the deposit slip the checks need to be listed separately, starting on line 1. Write the check number in the numbered boxes and the dollar amount of each check on the adjacent line.
Step 4: Calculate the Total of the Deposit
Add together the checks plus the Total Cash. Write the total amount in the Total box at the bottom of the deposit slip. It is recommended to double check all your calculations.
Step 5: Fill Out the Group’s Account Information
Write your group’s cash account number (802###) on the Account # line. (Note: deposits should NOT be made to your budget account 800###, unless required by the BRC.) Also, indicate which revenue object code(s) the money should be deposited to (i.e. donations-object code # 0491; Dues- object code #0487; etc.). See reverse side for revenue object code list.
Step 6: Fill Out the Source of Funds Information
Source of funds should describe where the money came from (i.e. Krispy Kreme fundraiser, Mt. Snow Ski trip, Senior Week ticket sales, etc.). (Note: the description will show up on your monthly financial statement.) If there is more than one type of funding source, write each source with its corresponding dollar amount (example: Krispy Kreme $15, Spring Dues $30, T-shirt sales $25).
Step 7: Fill Out Deposited By and Date Information
Write the persons name that completed/dropped off the deposit slip. Also write the date the deposit will be brought to the Student Activities Business Office.
Step 8: Submit the Deposit
Bring the cash and checks being deposited along with the corresponding completed deposit slip to the Student Activities Business Offices located at 226 Curry Student Center. One of the Student Activities Business Office employees will verify the information on the deposit slip. They will then initial it and give you your receipt (the yellow slip). Maintain the receipt for your group’s records.
NOTE: If you are making a deposit when the Student Activities Business Office is closed, obtain a building manager to open the night deposit safe. The night deposit safe is located down the corridor (towards the patio entrance) from the Student Activities Business Office. Your group can pick up your receipt the following business day.
