Deposit and Apply Receipts (60.2)

Business Process Overview

The Deposit and Apply Receipts business process is within the Accounts Receivable (AR) business process grouping. AR includes a collection of business processes that:

• Manage accounting, reporting, and collection of outstanding State revenues;
• Support the intake and accounting for cash receipts; and
• Ensures that the write-off of outstanding debt is appropriately approved.

This business process addresses how the State records deposits in Florida PALM and monitors that deposits are reconciled to bank data.

The business subprocesses included are:

• 60.2.1 – Direct Journal Deposits
• 60.2.2 – AR Deposits
• 60.2.3 – Returned Items
• 60.2.4 – Manage Electronic Receipts Data

Appendix: 

• Appendix A - Expenditure Refunds

Section 116.01, Florida Statutes (F.S.), requires funds collected and due to the State to be deposited in the Treasury no later than seven working days from the close of the week in which funds were received. Section 215.31, F.S., provides revenue collected or received shall be promptly deposited in the Treasury, immediately credited to the appropriate fund, and properly accounted for by DFS as to source.

Dependencies and Constraints

Dependencies and Constraints describe any conditions or criteria that impact how or when the business process should be executed. These could be set within Florida PALM or from external sources (i.e., Law or Rule).

• The deposit verification process is dependent on Florida PALM receiving a bank file and the Department of Financial Services (DFS), Division of Treasury (Treasury) performing the Manage and Reconcile Bank Statements business process.
• Recording returned items is contingent upon the bank providing the interface files.
• Deposits will be recorded in the Florida PALM configured bank account which corresponds to the actual bank account in which the cash was deposited.
• Deposits must be verified and approved to go through automated system activity checks (e.g., edit, budget, and cash) and post to the ledger.
• Accounting entries may be approved before verification and verification may occur before accounting entries are approved.
• Revolving Fund Bank Account deposit transactions, will be managed externally and not recorded in Florida PALM.
• Agencies can record revolving fund details at the time of replenishment through the 30.3 Enter and Process Vouchers business process.

Conversions

The table below identifies the Conversions related to this Business Process. These items are not included within the Business Flow Diagrams but are important elements of each Business Process.

Agency Configurations

The table below identifies the Agency Configurations related to this Business Process. These items are not included within the Business Flow Diagrams but are essential elements of each Business Process.

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