8:26 a.m., Jan. 28, 2010----The General Accounting Department of the Office of the Vice President for Finance at the University of Delaware has announced the launch of a new tool for entering deposits into UD Financials. The tool is UDeposit.

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After Feb. 1, Cash Transmittal Webforms will no longer be used for credit card deposits. UDeposit is the online tool for depositing credit card receipts into the University Financial System.

Important features of UDeposit

No longer need to send cash transmittals and support documentation to cashier services .

Credit card batches will come directly from a bank file, then merchants will direct the deposit to the departmental fund to receive credit.

Batches are displayed as summary totals with drill down to detail also available.

You can setup additional “accounting shortcuts” for other types of revenue, eliminates the need to type the same purpose and account information into multiple forms.

UDeposit does not have an approval requirement. Instead there is a reporting feature for account administrators to review the revenue booked to UD Financials.

Each merchant number has a default Speedtype/Account for recording its revenue. Batches will be automatically posted to your default Speedtype/Account after seven days OR by the end of the accounting period.

UDeposit has a very robust reporting feature for users as well as account administrators.

To log into UDeposit

To log into UDeposit, go to the UDeposit Web page, which will go live on Monday, Feb. 1, then enter your UDelNet ID and password in UD Central Authentication Service (CAS)

For additional information, contact General Accounting at 831-2175 or via e-mail at [general-accounting@udel.edu].

The UDeposit project was a collaborative effort of General Accounting and the UD Web development group.