How To: Preparing Currency and Coins for Deposit (with Department Transmittal Form)

If your department receives cash, there are specific steps to take to properly deposit the funds to Stanford's bank account.

Important:  Use to make deposits as paper transmittals are being phased out.

Who does this?  Staff

When?  A department has cash for deposit

How?  By preparing the cash for deposit, completing the Department Transmittal form, and delivering currency to Wells Fargo bank


Preparing Currency and Coins for Deposit (8 steps)

step 1

Separate currency (paper bills) by denomination into stacks of 20 and secure with rubber band. For stacks containing less than 20 bills, secure with a paper clip.

Note:  Any cash payment in excess of $10,000 resulting from the University's trade or business must be reported to the University's Tax Department using IRS Form 8300.
step 2

Separate coins by denomination: use pre-printed coin wrappers only if you have enough coins to fill the wrapper completely.

Note:  Fill coin wrappers with the exact amount of coins indicated on the wrapper for each denomination.
step 3

Run two adding machine tapes: if you use NCR tape, you will automatically get two copies.

step 4

Indicate the coin denomination on the left side of the tape by keying the denomination followed by the pound sign (#). It will print out in reverse order like this: #50, #25.

step 5

Key the total amount for each denomination.

step 6

Stamp or write the department's name on the bottom of the tape.

step 7

Complete the Department Transmittal form.

Important:  Use to make deposits as paper transmittals are being phased out.
step 8

Deliver by hand to Wells Fargo bank at Tresidder Memorial Union.

Note:  Contact the Department of Public Safety 650-723-9633 to set up an escort schedule.
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What Happens Next?


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