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Office of FINANCIAL SERVICES

Special rules for revenue collection

No bank account or credit card merchant facility is to be opened in the name of Macquarie University without the prior approval of University Council.

The complete collections of revenue or other monies for a day must be recorded so as to be readily identifiable with the bank deposit or deposits in respect of that day.

The accounting officer must lodge with the cashier all monies collected or received in the same nature as they were collected or received (for example, cheques must not be substituted for cash).

Special payment requirements

Payment by cash or bank cheque is normally required:

  • On settlement of the sale of real estate
  • On sale of any property where the selling price exceeds $2,000
  • On a replacement remittance for a dishonoured cheque.

A personal or business cheque can only be accepted if, in the individual case, the Director of Financial Services is satisfied that there is every likelihood that the cheque will be met on presentation.

Documents required by financial units

Each financial unit that is likely to receive University monies needs to have the following:

  • Log book for registered mail collections
  • Remittances by post register
  • Receipt forms, official University receipt book, or cash register

Financial units also require a rubber stamp with the words "Not negotiable - Credit to Macquarie University account only"

 

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