In the event the University receives an electronic payment for which the recipient is unknown, Treasury Operations will post these unidentified payments to a central holding account MFK. Departments expecting an electronic payment should check the holding account MFK in GL-DSS if the transaction is not in their departmental MFK.
To obtain additional payment details on electronic payments, simply locate the transaction on the TDR and click on the Journal ID for the transaction in question.
Claiming Payments from the Holding Account
When a receiving department identifies money in the holding account:
For funds that are NOT related to an externally sponsored project (not tracked in a fund 500/510):
- Create a WebCV journal entry to move the money out of the holding account and into the appropriate departmental MFK.
For funds that ARE related to an externally sponsored project (tracked in a fund 500/510):
- Grant Accounting must create the journal entry. Contact Chris Huber (firstname.lastname@example.org) for assistance.
Treasury Operations will create and maintain a list of unidentified payments, and the list will be made available on a quarterly basis to Departmental Administrators and Budget Officers, who are then responsible for identifying monies belonging to their Department.
Before the end of the fiscal year, Treasury Operations will review the list of outstanding payments. Unless restricted, payments greater than 1 year old will be transferred to a central account.
Note: Please contact Accounting & Financial Reporting (email@example.com) with any questions regarding GL-DSS or WebCV.