Weekly Cash Deposits Process

Purpose

This SOP provides guidance on UVC's weekly cash deposits requirements.

Procedure Steps

UVC requires all hospitals to abide by a weekly cash deposit process:

Verify that cash to be deposited per bank deposit slip reconciles without exception to the End of Day Report.

Any variances should be investigated and resolved within four (4) business days.

If by any chance a small portion of the cash (no more than $100 permitted) is kept in the drawer for change, please note that in the EOD reports submitted to the AR team.

2. Deposit cash to the bank, ideally on the same day of the week each week.

Date the deposit slip for the period it corresponds according to the PIMs reports, not the date the deposit is taken to the bank.

If by any chance, the deposit corresponds to some days in one month and some days on a subsequent month, break the deposit into two (2) separate deposit slips. One slip for remaining cash for the previous month, and another for cash that belongs to the new month.

3. Within two (2) days of when deposit is made, email the Weekly Deposit Report to UVC AR Team at ar@unitedvetcare.com

Subject: Cash Deposits WE MM/DD/YY‐ Hospital Name

End of Day Report for date range of your weekly deposit

Scanned Copy of Bank Deposit Receipt or scanned bank deposit slips

If no cash deposits were made during the week, please still send an email confirming no deposits.

Resources Available to Facilitate Cash Deposit Process

Night Depository Services

Night Depository allows clients to make deposits at any time of the day, including after business hours, using BofA branch’s night depository box.

If you are not assigned a night deposit branch location, please contact the Treasury team through the HelpDesk for further assistance. The Treasury team will coordinate with Bank of America, and upon confirmation, will notify the hospital once a night deposit key is available for pick-up at BofA nearest branch.

2. Deposit Supplies

All deposit supplies, including deposit slips and deposit bags, should be ordered solely by the Treasury team as we must use third party vendors approved by Bank of America.

Please contact the Treasury team through the HelpDesk to assist with any deposit supplies request.

Deposit Slip Preparation

Date the deposit slip for the period it corresponds according to the PIMs reports, not the date the deposit is taken to the bank.

2. Write your name (prepared by) and deposit bag number on designated lines on deposit slip.

3. Sort currency – Place bills flat and stack by denomination.

Count currency and enter total on currency line of deposit slip

Strap the bills with a currency strap reversed

4. Sort and count loose coins.

If coin is $10 or less, count the loose coin and enter the total amount on coin line of the deposit slip.

If loose coin is greater than $10, see the Coin Deposits Preparation section

5. Add the currency and coin and write the total deposit on the total line.

Coin Deposit Preparation

Coin deposits of more than $10 must be packaged in specific plastic Coin Bags and must not be rolled. Each bag must have a separate deposit slip and weigh less than 50 pounds.

Write the date, your name (prepared by) and the deposit bag number on the designated lines on the deposit slip.

2. Count the coin and write the amount on the coin line of the deposit slip as well as the total line.

3. Write using a ballpoint pen, your company name, store location, the date and the total coin amount on the appropriate lines of deposit bag.

4. Place the coins in the bag and remove excess air from the bag.

5. Remove the protective liner from the adhesive strip; fold the top of the bag over to meet the adhesive and seal, pressing firmly from the center to the edges of the bag.

6. Write the date, coin amount, your company name, store location and bag number on a Coin Processing envelope.

7. Place the original and one copy of the deposit slip in the envelope.

8. Your coin deposit is now ready to deliver to a branch. Coin deposits greater than $10 cannot be made through a night depository.

Deposit Bag Preparation

Using a ballpoint pen, write in the space provided on the front of bag:

Your company name, store location and the date

The total amount of cash (total of currency and coin combined) and the deposit total from your deposit slip

2. Place all cash and one copy of the deposit slip in the top pocket of the bag. Make sure the information on the deposit slip is visible.

3. Remove the tear-off strip with the bag number from the top of the bag and retain it for your records.

4. Remove trapped air from the bag by pressing down on the pockets prior to sealing.

5. Remove the protective liner from the top adhesive strip. Fold the top of the bag over the adhesive and, starting from the center, press firmly toward the outside edges of the bag to seal the cash pouch.

6. Place the original deposit slip on top of your cash stack and place the stack in the bottom pocket of the bag so the deposit slip is visible.

7. Remove the protective liner from the bottom pocket seal. Remove trapped air from the pocket and start from the center of the seal, press firmly toward the outside edges of the bag to seal the pocket.

8. Your deposit is now ready for delivery to a banking center or Receipting Night Depository. Note: Each Deposit bag should contain only one deposit.