The following information was taken from Deposit Policy.
Deposits are one of the most important things done every day.
Bank deposits will be made on a daily basis. No facility should hold checks waiting for several to be collected before making a deposit.
The Daily Deposit Form should be submitted with each deposit, including copies of the checks listed. The only exception to this form being used is if an ACH deposit was made. We do not need original deposit slips. The fax is sufficient as long as it is legible.
Daily Deposit Forms and check copies should be submitted by way of fax with the deposit receipt attached. The name of the facility should be on the top of the form along with the date that deposit ticket shows the funds will be deposited.
If the deposit receipt provided by the bank cannot be read, the dollar amount of the deposit should be written directly under the printed dollar amount.
Payments should be listed by resident last name, first initial.
For audit purposes, bank deposits should be made by the Business Office Manager, Executive Director, or other designated personnel of the facility. The facility personnel handling the rent roll and daily census may not make the daily deposit.
The Monthly Deposit Log should be submitted at the end of the month. This verifies that all deposits were received and credited to resident accounts.
The Daily Deposit Form can be DOWNLOADED HERE.
The Monthly Deposit Log Form can be DOWNLOADED HERE.