Accounting Office / Accounts Payable

To receive funds in cash at the Treasurer’s Office:

Prepare a Debit Memo, following this example. On the Debit Memo, indicate the department making the request, the amount, the purpose of the fund, the custodian, and the location where the fund will be kept. Also indicate the date the fund will be repaid, or provide a statement that the funds will be held indefinitely.

If you are adding to an existing petty cash fund you can use your department's existing 907-XXXX number on the Debit Memo. Otherwise, leave the fund account blank, except for a "907," and the Accounting Office will set up a 907 account for your department.

The class code should be 915-00 when establishing, increasing, closing, or reducing a petty cash fund. However, neither the 907-XXXX account nor the 915-00 class code should be used when replenishing a petty cash fund.

Send the Debit Memo to the Accounting Office, where it must be approved and forwarded to the Treasurer's Office. Debit Memo forms should be submitted to the Accounting Office at least 48 hours before the cash is needed.

The department chair must sign at the bottom left, as on an Iowa State University - Voucher.

You can specify on the Debit Memo form the denominations of currency or change that you would like to pick up.

To receive funds in the form of a check:

Prepare an Iowa State University - Voucher, following this example.

The information requirements are nearly identical to the Debit Memo example above.

Most petty cash fund custodians use the Debit Memo method, as it is more convenient to pick up cash at the Treasurer's Office than to cash a check at a bank.

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Last Updated August 28, 2009.