The Treasurer’s office provides general oversight and assistance to departments accepting payments and depositing funds. The following deposit methods are available:
University deposit center (checks, cash and coin)
Departments on campus accepting checks, cash and/or coin may deposit funds at a University Deposit Center. If the department is off campus, the department may deposit funds at a local bank branch with prior Treasury approval.
Check scanning, remote deposit
Departments accepting significant volumes of checks may qualify for an electronic check scanner to process payments. Contact the Treasurer’s office (614-292-6261) for more information on implementing this deposit option
Incoming electronic payment (ACH or wire)
Vendors may request to make electronic payments. Due to the large volume of electronic payments, in order to identify payments it is imperative departments complete the form, Notification of Incoming Electronic Payments.
Payment card processing – terminal and e-commerce
Departments that would like to accept credit card deposits from customers presenting a Visa, MasterCard, American Express or Discover card will need to open a merchant account. These deposits will be automatically journaled to your chartfield
Cash and Check Deposit Process
Ohio State departments may deposit checks, cash, and coin at an OSU Deposit Center located on the main campus or with treasury approval at an off campus bank branch.
- Deposits must be made by the next business day if the deposit is $1,000 or greater or within three business days if the deposit is less than $1,000.
- All checks must be logged and restrictively endorsed immediately upon receipt.
- All authorized cash handling units are responsible for exercising reasonable care in screening cash transactions for counterfeit currency. If a questionable bill is received, the department should retain possession of the bill and contact the University Police immediately. Do not return the bill to the payer.
On campus deposit centers process
There are several Deposit Centers on the main campus to deposit checks, cash and coin. To determine the nearest location, contact the Treasurer’s office. An armored carrier will pick up the deposits from the Deposit Center and deliver the funds to the bank’s vault for processing.
Workday Update: Please refer to the Administrative Resource Center to view the job aid "Record Cash Sale". This job aid can be found on the ARC under Workday for Core Users: Finance, Record Cash Sale.
- Do not cash or substitute checks for cash.
- Verify your deposit totals prior to posting your deposit in Workday.
- Record appropriate cash and check deposits through the Record Cash Sale task in Workday.
- Enter the Sequential Deposit Slip Number in the Deposit Reference field within the Record Cash Sale task. Enter just the slip number into this field no alpha characters.
- Place the Sequential Deposit Slip into the univerity deposit bag with your cash or checks.
Organize your checks or currency
All checks must face the same direction for expediting the bank processing.
- All currency should be face up, in one direction, and sorted by denomination. It is strongly recommended to include a copy of your count tape with your deposit.
- Maintaining copies of checks is prohibited. Entering individual checks in the line item detail of the cash sale, serves as the check log with Workday. A manual check log is an appropriate alternative for areas that do not manual record deposits into Workday.
Prepare Deposit Bag
- Disposable bags are available through Buckeye Buy (item #53741).
- A bank bag must only contain one deposit slip.
- Inspect the bag for holes or tears before using. Bags must be kept intact. Do not separate bags at the perforation. This will be considered tampering.
- For security purposes, any deposits using damaged bags will be refused by the OSU Deposit Center, armored carrier, or the bank.
- When placing the deposit slip in the bag, the deposit slip must face the back of the deposit bag with the total deposit amount clearly visible from the outside.
- Cash and checks are not recounted at the OSU Deposit Center.
- Complete the information listed on the deposit bag.
- Deliver the deposit bag to a University Deposit Center. Enter the deposit total of each bag in the “blue book” of the armored carrier log and obtain a deposit receipt.
On campus remote check scanner deposit
- The check scanning software and training is provided through the bank
- If you are interested in remote check scanning, please contact the Treasurer’s office for detailed installation, implementation, and process guides.
Off campus branch deposit
Departments not located on the Columbus main campus may receive authorization from the Treasurer’s office to make deposits directly at the nearest bank branch. Please contact the Treasurer’s office (614-292-6261) to order deposit slips customized to your department’s chartfield.
All personnel who handle cash or checks should be aware of fraudulent checks and counterfeit currency
Tips for dealing with currency
- If a questionable bill is received, the department should retain possession of the bill.
- Contact the University Police immediately.
- Do not return the bill to the payor.
- Do not handle the counterfeit note. Place it inside an envelope to protect it until you place it in the hands of an identified police officer.
How to Detect Counterfeit US Currency
- Texture - Feel the texture of the bill. Genuine currency has slightly raised ink. You should be able to feel the texture of this ink, especially if you are holding a new dollar bill.
- Printing Techniques - Real U.S. bills are printed using printing and digital techniques that cannot be replicated. Look for blurry areas especially in fine details around the borders; real bills have clear, unbroken borders. Portraits in fake bills may appear dull, blurred, and flat, while in real currency, the portraits are sharp and contain very fine detailing.
- Fibers part of genuine currency - All U.S. bills have tiny red and blue fibers embedded in the paper. Counterfeiters sometimes try to reproduce these by printing or drawing these fibers onto the paper. However, close inspection reveals that on the counterfeit note you will see they are printed on the paper rather than being part of the paper.
- Security Thread “USA” - Look for a security thread (a plastic strip) running from top to bottom. The printing will say "USA" followed by the denomination of the bill, which is spelled out for $5, $10, and $20 bills but presented in numerals on the $50 and $100 bills.
- Watermark - Hold the bill up to a light to check for a watermark. A watermark bearing the image of the person whose portrait is on the bill can be found on all $10, $20, $50, and $100 bills series 1996 and later, and on $5 bills series 1999 and later.
Tips for dealing with checks
- Each check must be initialed by the accepting cashier.
- Suspicious activity shall be reported to the university police by dialing 614-292-2121 and Internal Audit 614-292-9680.
How to Detect Counterfeit Checks
- Perforated Edge - Most checks have perforation on one side of the check where it is detached from the detail. Counterfeit checks may lack a perforated edge.
- MICR line shiny - The numbers printed along the bottom of the check (MICR line) are shiny. Real magnetic ink is dull and non-glossy in appearance.
- Authorized Signature - The check lacks an authorized signature from known university individual.
- Address Information and Logo - Address or logo information for the University looks incorrect or is missing.
- Fraction at top right of check - The “fraction form” in the top right corner of the check has a numerator and a denominator. These numbers are used to determine the routing number if the MICR line has been destroyed. However, it can also be used in fraud prevention. Parts of the fraction correspond to information at the bottom of the check. See below.
- The numerator consists of two parts separated by a dash. The prefix (no longer used in check processing, yet still printed on most checks) is a 1 or 2 digit code (P or PP) indicating the region where the bank is located.
- The second part of the numerator (after the dash) is the bank's ABA Institution Identifier, which also forms digits 5 to 8 of the nine digit routing number (YYYY).
- The denominator is also part of the routing number; by adding leading zeroes to make up four digits where necessary (e.g. 212 is written as 0212, 31 is written as 0031, etc.), it forms the first four digits of the routing number (XXXX).
- For example, a fraction of 55-2/212 corresponds to a routing number of 021200025. The prefix (55) no longer has any relevance, but from the remainder of the fraction, the first 8 digits of the routing number (02120002) can be determined.
Unidentified Electronic Receipts
Unidentified electronic receipts are funds received by The Ohio State University that do not have a corresponding Workday transaction. These funds are direct bank transfers (ACH or wire) and contain information that can help departments identify funds that they are expecting.
Current List of Unidentified Receipts
The Treasurer's office maintains a list of unidentified receipts. This list is generally updated each Monday. Items will remain on this list for one year. After one year, unidentified receipts will be transferred to the university's general fund.
Contact BF-BankReconciliation@osu.edu if you have any questions.
How to Claim Funds from the List
To claim funds from this list, record a cash sale following the instructions in the ARC. Please e-mail the cash sale and claimed transaction information to BF-BankReconciliation@osu.edu to assist with matching.