Each depositor is asked to follow these guidelines:

Payee on cheques - All cheques MUST be made payable to “Queen's University” or “Queen's University at Kingston”. Cheques that contain any other variation on the ‘Payable to’ line will be returned to the department, as we will not be able to process the deposit with the bank. Any need to denote the specific Department or Program that the cheque is for should be made in the `Memo' section of the cheque.

Forms - Provide a completed Deposit Transmittal PDF Form (942 KB) that clearly shows the PeopleSoft ChartField, amount and a brief description indicating the source and purpose of the deposit. Separate transmittal forms must be prepared for CAD (both cash and cheque) and USD (both cash and cheque) deposits.

Cheques - It is acceptable for cheque deposits to be sent via mail. Please ensure all cheques are signed, dated, and have an amount, before submitting to Financial Services.

Stamp & Chartfield on Cheques - On all cheques to be deposited, you must stamp (or write by hand) on the back of each cheque “For Deposit Only to the Bank of Montreal, 297 King Street East, Queen's University”. You must also write out on the back of each cheque the appropriate chartfield information (Fund, Department, Account, Program, Class & Project) for it to be deposited to. The chartfield is required because any/all cheques that get returned (NSF) come back to Financial Services, and Financial Services needs to know where the Cheque was originally deposited to.

Chartfield Considerations:

GL Account – When depositing funds, generally a revenue account (GL 4XXXXX) will be used.  No deposits should be coded to a GL Account starting with 6XXXXX (expense accounts).  These deposits will be redirected by Financial Services to account 490010 (External Cost Recovery).  In such instances, these lines will be coded to Program 99500 (Miscoded Deposit) and Fund 10000 (Operating fund).

Donations – Cheques to be deposited to GL Accounts 440001, 440004, and 400301 are to be sent to Advancement – Gift Services (Office of Advancement, Gift Services, 50B Arch Street, Old Medical Building, Rm 101).

Trust & Endowments – Deposits being coded to Trust & Endowment Funds (5XXXX – 8XXXX) sent to Financial Services must be charged to GL Account codes starting with 40XXXX (Grants) and/or 41XXXX (Contracts).

GST/HST - If any taxes are being collected as part of the payment being received, please ensure the tax amount is coded to the HST Payable account (210080) or GST Payable account (210024), on a separate line on the Deposit Transmittal Form. If more information is required on this matter, please refer to the HST on External Sales information on the Financial Services website.

Other notes regarding Cheque Deposits:

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 initialed and dated as ‘Received’ and returned for your files.

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.

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.

The General Accounting Department within Financial Services provides guidance and assistance regarding the set up of debit/credit card facilities. This allows departments to accept payments other than cash, cheque or wire transfers.

Please see the document below for detailed information and guidance.

  How to Accept Credit Card Payments at Queen's (PDF, 182 KB)

When you make a deposit in US funds or when bills are paid in foreign currencies, the Bank of Canada Exchange Rate is used to convert to Canadian Dollars. 

Since April 5, 2017Average Daily Exchange Rates as provided by the Bank of Canada, have been used.

Instructions: Using the pull down options under "Currencies", select one or more currencies. Under "Select Date Range", use the pull down menu for your options. Click "SUBMIT".  You must scroll to the bottom of the screen.  For large data sets, only the Monthly Average will show.  To see Daily Rates during this time, please choose preferred format from the sentence that says, "Some data points were not included in this table.  The data is available as CSV, JSON and XML"

*The Bank of Canada Daily Average Exchange Rate is published once each business day by 16:30 ET.

Prior to April 5, 2017, the Closing Exchange Rate, as provided by the Bank of Canada, was used.  A look-up tool is available to search Historical Rates.

Instructions: Using the pull down options under "Type", choose "Closing Rate", then enter the desired Currency, Year and Format.  Click "Download".

Effective immediately, please forward all research deposits to the appropriate Research Accounting contact for review.

As we continue to work towards ensuring the General Ledger reflects accurate and reliable information, it is important that the appropriate revenue accounts are used when preparing deposits for research funding. Appropriate General Ledger accounts are essential for internal and external reporting requirements. Revenue accounts should reflect the source of the funding. For example, funding received from NSERC should be deposited to Account 400105 (Fed. Gov’t-NSERC).

If you require guidance on the appropriate account to be used on your deposit transmittal, please contact the appropriate Research Accounting staff member for assistance.

We appreciate your cooperation as we work towards ensuring data integrity for all financial data.

General Accounting within Financial Services can send requests for e-transfers to those who wish to pay Queen’s University by this method.  Please contact for this request.  Please note that requests received by Monday at 4pm will be processed by end of day Wednesday.

Expecting funds and they are not showing in your reports?  Please fill out the following form.

Incoming Payments by EFT or Wires