business-manual.pdf — PaddleOCR-VL (Baidu)

Kentucky State University Business Policies and Procedures Manual

Bank:	Fifth Third	Fifth Third	Fifth Third	Fifth Third	Fifth Third	Fifth Third	Fifth Third	Fifth Third	Fifth Third	Fifth Third	State	State
Account Name:	Perkins - 52	FFELP (International Exchange) - 53	Federal Direct Loans - 54	Payroll - 55 (not used)	Vendors - 56	Federal Grants - 57	Cashier - 58	Credit Cards - 59	General - 60	Bank 09 - State	Bank 20 - State Allotment	Bank 29 - State Capital Projects
Bank A/C#:	x0662	X0654	x0621	x0712	x0704	x0688	x0639	x0696	x0720
Banner GL	110052	110053	110054	110055	110056	110057	110058	110059	110060	110009	110020	110029
Purpose	Perkins account; Deposits are received from ECSI for Perkins loans. Not a sweep account.	Foreign exchange student payments and international wires are deposited here. Very rarely used and is not a sweep account.	Federal Direct Loans are received here. Account sweeps to bank 0720 (60).	Old payroll account; account is no longer in use but kept open due to checks.	Vendor payments for AP and Payroll. This is the only account payments are sent from. Sweeps to bank 0720 (60).	Federal grants, Federal scholarships & VA funds are deposited here. Sweeps to bank 0720 (60).	University accounts for cashiers. All cash and checks received at the University are deposited here as well as state payments. This account sweeps to bank 0720 (60).	Merchant account; all credit cards should flow through this account. This account also pays the fees for credit card processing and will debit the account around the 10th. This is a sweep account to bank 0720 (60).	General account; Used as a depository account and is where all other accounts sweep to.

Obtain details on vendor transactions for selected vendors

Details on vendors for outflows can be found in FAIVNDH and can be added to Support tab. Put in the vendor # and fiscal year and then click Go. Then, find invoices with a check date in the month of the forecast

Vendor Invoice	Invoice	Approval	Multiple	Credit Memo	Open/Paid	Cancel	Vendor Invoice Amount	Due Date	Check Date	Check Number
898493615059	10170089	YES	NO	NO	PAID	NO	212,036.23	07/31/2023	07/31/2023	00136827
898496357044	10170090	YES	NO	NO	PAID	NO	115,893.59	07/14/2023	07/31/2023	00136827
898492038944	10170091	YES	NO	NO	PAID	NO	14,465.82	07/28/2023	07/31/2023	00136827
898492028676	10170189	YES	NO	NO	PAID	NO	17,197.76	08/03/2023	08/11/2023	00136833
898495688854	10170196	YES	NO	NO	PAID	NO	18,754.82	08/08/2023	08/11/2023	00136833
898492034962	10170358	YES	NO	NO	PAID	NO	65,954.07	08/15/2023	08/18/2023	00136841
898493020646	10170500	YES	NO	NO	PAID	NO	15,555.83	08/22/2023	08/25/2023	00136852
	Total						459,858.12

Review forecast for upcoming months and update with any known changes

Remitting Receipts to State Accounts

Transfers to and from state accounts are completed as needed. Kentucky Revised Statutes requires remitting receipts to the state account to keep the amounts held at institutional bank accounts to a minimum.

Responsible position(s):

Bursar

Accounts Payable Clerk

Senior Accountant

Controller

Required documents and access:

Banner

Frequency and timing:

Monthly after month-end close

Steps:

Bursar runs a report of unrestricted general cash receipts received in the prior month and prepares a manual direct pay request to remit general receipts to state accounts.