7.1.63 Re-deposits (Credits of Expenditures)

Guidelines

The following guidelines are to be used in determining if a re-deposit can be made.

The Comptroller's Office Permits Re-deposit (Credit) for:

Vendor returned university check or vendor was issued a check for:

• Duplicate payment
• Unavailable merchandise
• Incorrect amount
• Conference cancelled
• Could not attend conference for which you were registered
• Overpayment of shipping charges
• Entertainer did not perform

If there is a question as to whether or not an item can be credited to your account, contact the Comptroller's Office.

The following instruction is to be used if a re-deposit is requested:

1. Send a memo along with the check to the Comptroller's Office requesting that it be re-deposited back into your account. State the account number that corresponds to the check.

After the Comptroller's Office receives the request and determines that the re-deposit can be made, the check is deposited through the Cashier's Office. The process normally takes a minimum of two days and these funds are not available during this time. The expenditure credit will appear on your general ledger reports as a negative expenditure. The expenditure credit may also be viewed through the ACBL computer transaction.

Important Note for checks originating from income fund: The credit process may only be done during the same fiscal year as the expenditure. Checks received outside the fiscal year are required to be deposited into the University Income Fund  (miscellaneous income account) and will not be available to the department. Funds must be credited back to the original fund source.