Financial Services

Financial Services

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Handling Cash

The handling of cash carries a risk of loss of the asset as well as a risk to the individual handling and transporting the cash.

We recommend that the handling of cash be minimized wherever possible. Some suggestions for eliminating the receipt of cash resulting from the sale of goods and services are:

  • Use the Campus Bookstore whenever possible for sale of course related material
  • Accept debit and credit cards. Financial Services can help get you set up this process - contact General Accounting for more information.
  • Accept payment by personal cheque from faculty and staff. All cheques should be made payable to Queen's University.

If cash still must be accepted please:

  • Use pre-numbered cash receipt slips (available from Financial Systems or a cash register when cash is received).
  • Ensure that access to the cash is limited to the person responsible for the cash.
  • Ensure that cash is stored in a secure location before it is transferred to Financial Systems or the bank. Use fireproof safes rather than filing cabinets and desk drawers.
  • Ensure that a person who does not have access to the cash reconciles deposits to the cash receipts or cash register tape on a daily basis.
  • Do not send cash to Financial Services in the mail
  • Ensure that cash is deposited intact on a daily basis (i.e. do not use cash received on account of sales etc. for petty cash purposes.)

Cash deposits made in person at Financial Services must be done prior to 11:45 and you must wait for the receipt

Funds received by a department in respect to the sale of goods or services, reimbursements, etc. must be deposited with the Senior Accounting Clerk in the General Accounting or directly at the bank using our "concentrator service".

Additional Information

Bank Accounts

To ensure proper control and accountability over University resources, departments are not permitted to open external bank accounts. University units and individuals in receipt of funds which have been provided to them to carry out any University-related activity (including research funds obtained from granting agencies), must use the correct PeopleSoft ChartField, assigned to the department to manage these funds.

All transactions, including deposits, payment of invoices etc., must be conducted through the designated PeopleSoft ChartField.