Cash Float Accounts

…departmental account. This can be done from petty cash or using a Cheque Request Form. Any transaction to restore a fund shortage should be so identified and approved under the…

Petty Cash

A Petty Cash Fund is one alternative for handling small dollar purchases (not greater than $100). A Petty Cash Fund operates as follows. A cheque is issued to the custodian…

…and other reasons, must be provided centrally (e.g. cheque production, student fees). Financial services concentrates on standard setting through issuance of policies and procedures, on provision of professional consultation, advice…

Introduction to FIS

…monies which are owed by the university to pay suppliers. Each department is responsible for entering all accounts payable transactions into FIS. The production and mailing of the cheques is…

Budget Preparation and Project Managing in Foreign Currency

…See Foreign Payments for payment alternatives. See FAQ – Cheque Production for Financial Services Department processing schedules for CAD cheques, USD cheques and foreign drafts. Last revision November 2015…

Credit Memo

…vendor and request a cheque for the amount of the credit memo. The cheque must be made payable to the “University of Toronto”. This money is then deposited* into the…

Alternate Payee

…need to present a cheque in person. When you need to direct a cheque to a specific destination within a vendor’s organization (e.g., PO Box, specific department, division) When a…

Source Documents and the Audit Trail

…with the cheque, use the Alternative Payee function to redirect the cheque to you for mailing. Credit memo The vendor’s credit memo is the supporting document. Credit memos for an…

Accounts to Record Deposits Received

…is up to the department and will depend on volumes and dollar amounts. Refunding Deposits The department refunds the deposit by: issuing cash from petty cash, issuing a cheque from…

Purchase Order Invoices

…the refund. When the department receives a refund cheque, deposit the cheque and process the vendor refund in FIS. Receiving Reports A hard copy receiving report (or packing slip) is…