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Queen's University
 

Cheque Deposits

Each depositor is asked to follow these guidelines:

All cheques should be made payable to Queens University.

When completing a cheque deposit, you need to ensure the entire PeopleSoft chartfield (Fund, Department, Account) is written on the back of the cheque. This is because all cheques that get returned (NSF) come back to Financial Services and Financial Services needs to know where the cheque was originally deposited.

Stamp the back of each cheque with “For Deposit Only to the Bank of Montreal, 297 King Street East, Queen’s University”

Separate Canadian and US cheques and provide an adding machine tape for each total.

Provide a deposit slip or memo that clearly shows the PeopleSoft chartfield, amount and a brief description indicating the source and purpose of the deposit. (An interactive DEPOSIT TRANSMITTAL form is available.)

Keep a record of the cheques forwarded for deposit, as they will not necessarily be listed individually on the monthly statement (in most cases, a total will be posted for each PeopleSoft chartfield). If required, include a copy of the deposit slip which will be initialled and dated as ‘Received’ and returned for your files.

Keep items for collection (ie. Sterling Drafts, US funds drawn on a Canadian bank, etc.) separate and do not include in the totals for deposit.

Tuition fee payments are credited to the Student Financial System independently of the Finance general ledger. Please do not include fee payments in your deposits.

Sales taxes should be noted on a separate line item.

 

Please note:

Any cheques which relate to funding awarded as a research contract or grant should be forwarded directly to Research Accounting in Financial Services for deposit.

Gifts from corporations, foundations or individuals should be delivered by hand to Advancement Services. An official charitable tax receipt will be issued in due course to the entity that made the donation to the university.

Kingston, Ontario, Canada. K7L 3N6. 613.533.2000