Processing a Cash Expense Refund

Cash Expense Refunds are received in the form of Refunds, Reimbursements, Rebates or Returned funds from a vendor.  Cash expense refunds always relate to an expense paid for by UF and must be returned to the ChartField of origin.


Use the original ChartField string information from the expense as the ChartField string of the deposit.  Expenses with a prior year accounting date are an exception.  Contact Treasury Management if you have any questions on an expense refund.


Scenario: Your department bought 10 brand new computers and monitors, totaling $10,000.  The original voucher paid was #03120452.  At the time of purchase, a 15% rebate was promised to your department 3 months after the purchase.  After three months, a check for $1,500.00 has arrived and must be deposited. 


Since this rebate check isn't revenue, the deposit is considered a cash expense refund and the funds deposited into the appropriate account.


Enter the Deposit Unit into the Deposit Unit field. Enter "0500".

The Totals tab contains the control information.  myUFL used this information to validate the details on the Payments page.


The Accounting Date defaults to the next business day.


Bank Code will always be Wachovia.


Bank Account will be UFV.


Deposit Type will be K.


Click the Look up Deposit Type button.

Enter the amount of the refund into the Control Total Amount field. Enter "1500.00".

Enter the desired information into the Count field. Enter "1".

The Payments tab is where you enter the details for all payments in your refund.


Enter the amount of the refund into the Amount field. Enter "1500.00".

Scroll down, if needed.

Click the Payments menu.

If you receive a Security Warning window, click the Yes button.

Enter the Dept into the Dept field. Enter "05000000".

Enter the Fund into the Fund field. Enter "141".

Enter the Program into the Program field. Enter "7200".

Enter the Account into the Account field. Enter "731100".

Enter the Budget Reference into the Bud Ref field. Enter "CRRNT".

Enter the amount of the refund into the Line Amount field. Enter "-1500.00".


Note:  Remember to enter the value as a credit (negative number).

You must put the Journal ID, Expense Refund number or Voucher number in the Reference (Ref) field.


Processing a Cash Expense Refund

If you need help with…

 

• Technical issues, contact the UF Help Desk:

      - 392-HELP

      - helpdesk@ufl.edu


• Policies and Directives,

      - Contact Treasury Management at 392-9057

      - Refer to Cash Handling and Controls at http://www.fa.ufl.edu/departments/treasury-management/cash-handling-and-controls/                                                                                      


© Training and Organizational Development, Office of Human Resource Services,

 University of Florida, Gainesville, FL 32611



Enter the Deposit Unit into the Deposit Unit field. Enter a valid value e.g. "0500".

Enter the amount of the refund into the Control Total Amount field. Enter a valid value e.g. "1500.00".

Enter the desired information into the Count field. Enter a valid value e.g. "1".

Enter the amount of the refund into the Amount field. Enter a valid value e.g. "1500.00".

Enter the Dept into the Dept field. Enter a valid value e.g. "05000000".

Enter the Fund into the Fund field. Enter a valid value e.g. "141".

Enter the Program into the Program field. Enter a valid value e.g. "7200".

Enter the Account into the Account field. Enter a valid value e.g. "731100".

Enter the Budget Reference into the Bud Ref field. Enter a valid value e.g. "CRRNT".

Enter the amount of the refund into the Line Amount field. Enter a valid value e.g. "-1500.00".


Note:  Remember to enter the value as a credit (negative number).

You must put the Journal ID, Expense Refund number or Voucher number in the Reference (Ref) field.


Click the Main Menu button.
Click the Accounts Receivable menu.
Click the Payments menu.
Click the Online Payments menu.
Click the Regular Deposit menu.
Click the Add a New Value tab.
Enter the desired information into the Deposit Unit field. Enter
a valid value
e.g.
"0500"
.
Click the Add button.
Click the Look up Deposit Type (Alt+5) button.
Click the Look Up button.
Click the Check Deposit link.
Enter the desired information into the Control Total Amount field. Enter
a valid value
e.g.
"1500.00"
.
Enter the desired information into the field. Enter
a valid value
e.g.
"1"
.
Click the Payments tab.
Enter the desired information into the Payment ID field. Enter
a valid value
e.g.
"Check #20200"
.
Enter the desired information into the Amount field. Enter
a valid value
e.g.
"1500.00"
.
Click the Journal Directly option.
Click the object.
Click the Save button.
Click the Payments button.
Click the Direct Journal Payments menu.
Click the Create Accounting Entries menu.
Click the Search button.
Click the Yes button.
Enter the desired information into the Dept field. Enter
a valid value
e.g.
"05000000"
.
Enter the desired information into the Fund field. Enter
a valid value
e.g.
"141"
.
Enter the desired information into the Program field. Enter
a valid value
e.g.
"7200"
.
Enter the desired information into the Account field. Enter
a valid value
e.g.
"731100"
.
Enter the desired information into the Bud Ref field. Enter
a valid value
e.g.
"CRRNT"
.
Enter the desired information into the Line Amount field. Enter
a valid value
e.g.
"-1500.00"
.
Click the Journal Reference Information link.
Enter the desired information into the Ref field. Enter
a valid value
e.g.
"03120452"
.
Click the Create button.
Click the Complete option.
Click the Save button.