Each depositor is asked to follow these guidelines:
Payee on cheques - All cheques MUST be made payable to “Ҵý” or “Ҵý at Kingston”. Cheques that contain any other variation on the ‘Payable to’ line will be returned to the department, as we will not be able to process the deposit with the bank. Any need to denote the specific Department or Program that the cheque is for should be made in the `Memo' section of the cheque.
Forms - Provide a completed deposit form for cash and cheque deposits, select the appropriate form required:
- CAD Cheque Deposit Form (xlsx,125KB)
- CAD Cash Deposit Form (xlsx, 125KB)
- USD Cheque Deposit Form (xlsx, 125KB)
- USD Cash Deposit Form (xlsx, 126KB)
Legacy form can be found here until November 14, 2025
Cheques - It is acceptable for cheque deposits to be sent via mail. Please ensure all cheques are signed, dated, and include an amount, before submitting to Financial Services.
Stamp & Chartfield on Cheques - All cheques to be deposited, must be stamped (or handwritten) on the back of each cheque:
“For Deposit Only to the Bank of Montreal, 297 King Street East, Ҵý”.
It is also required that on the back of each cheque the appropriate chartfield information is included to deposit the funds (at a minimum Fund, Account, Department, optional Program, Project, Class). This is required because any/all cheques that get returned (NSF) come back to Financial Services, and Financial Services needs to know where the cheque was originally deposited to.
Chartfield Considerations:
Account Chartfield – When depositing funds, generally a revenue account (4XXXXX) will be used. Deposits should not be coded to an expense account (6XXXXX). Deposits coded to an expense account will be redirected by Financial Services to External Cost Recovery (account 490010), Miscoded Deposit (program 99500), Operating (fund 10000).
Donations – The Office of Advancement must be aware of cheques for donations received. Please reach out to their office by visiting Advancement | Ҵý.
Trust & Endowments – Deposits coded to Trust & Endowment Funds (5XXXX – 8XXXX) must be coded to a grants account (40XXXX) and/or contracts account (41XXXX).
GST/HST - Taxes collected as part of the payment must be coded to the appropriate tax account HST Payable account (210080) or GST Payable account (210024). Please refer to the HST on External Sales information on the Financial Services website for further information.
Other Considerations:
Keep a record of the cheques forwarded for deposit, as they will not necessarily be listed individually on the monthly statement (in most cases, a total will be posted for each PeopleSoft ChartField). If required, include a copy of the deposit slip which will be initialed and dated as ‘Received’ and returned for your files.
Tuition fee payments are processed separately through the Student Financial System (SOLUS). Please do not include these types of fee payments in your deposits.
The General Accounting Department within Financial Services provides guidance and assistance regarding the set up of debit/credit card facilities. This allows departments to accept payments other than cash, cheque or wire transfers.
Please refer to the site below:
Credit Card Merchant Accounts and related PCI DSS Compliance
When you make a deposit in US funds or when bills are paid in foreign currencies, the Bank of Canada Exchange Rate is used to convert to Canadian Dollars.
Since April 5, 2017, as provided by the Bank of Canada, have been used.
Instructions: Using the pull down options under "Currencies", select one or more currencies. Under "Select Date Range", use the pull down menu for your options. Click "SUBMIT". You must scroll to the bottom of the screen. For large data sets, only the Monthly Average will show. To see Daily Rates during this time, please choose preferred format from the sentence that says, "Some data points were not included in this table. The data is available as CSV, JSON and XML"
*The Bank of Canada Daily Average Exchange Rate is published once each business day by 16:30 ET.
Prior to April 5, 2017, the Closing Exchange Rate, as provided by the Bank of Canada, was used. A look-up tool is available to search .
Instructions: Using the pull down options under "Type", choose "Closing Rate", then enter the desired Currency, Year and Format. Click "Download".
Effective immediately, please forward all research deposits to the appropriate Research Accounting contact for review.
As we continue to work towards ensuring the General Ledger reflects accurate and reliable information, it is important that the appropriate revenue accounts are used when preparing deposits for research funding. Appropriate General Ledger accounts are essential for internal and external reporting requirements. Revenue accounts should reflect the source of the funding. For example, funding received from NSERC should be deposited to Account 400105 (Fed. Gov’t-NSERC).
If you require guidance on the appropriate account to be used on your deposit transmittal, please contact the appropriate Research Accounting staff member for assistance.
We appreciate your cooperation as we work towards ensuring data integrity for all financial data.
General Accounting within Financial Services can send requests for e-transfers to those who wish to pay Queen’s University by this method. Please contact accounts.receivable@queensu.ca for this request. Please note that requests received by Monday at 4pm will be processed by end of day Wednesday.
Expecting funds and they are not showing in your reports? Please fill out the following form.