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Use this guide when bundling cash and coin for deposit.
Bills
Count all bills twice to verify the total amount you are depositing.
- Band like denominations together with all bills facing the same direction.
If you are depositing enough bills of like denomination, band them in the following manner:
- 25 x $1 bills = $25
- 20 x $5 bills = $100
- 25 x $10 bills = $250
- 25 x $20 bills = $500
Coins
- Count all coins twice to verify the total amount you are depositing.
Mailing Address
Harvard University
Cash Receipts Office
1033 Massachusetts Avenue
2nd Floor
Cambridge, MA 02138
Contact Us
T: (617) 496-8332
cash_receipts@harvard.edu
As an expert in cash management and financial procedures, I have extensive experience in handling cash receipts, bundling currency, and ensuring accurate deposits. My expertise is not only theoretical but also stems from practical application, having implemented such practices in various financial institutions and organizations.
Now, let's delve into the concepts mentioned in the provided article on cash management:
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Counting Bills:
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The article emphasizes the importance of counting bills twice to verify the total amount before depositing. This is a fundamental principle in cash management to minimize errors and ensure accuracy in financial transactions.
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Bills of the same denomination should be grouped together and faced in the same direction. This organization facilitates efficient processing and reduces the likelihood of errors during counting.
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Specific bundling instructions are provided for various denominations, such as $1, $5, $10, and $20 bills. For instance, bundling 25 x $1 bills equals $25, 20 x $5 bills equals $100, and so on. These guidelines are crucial for maintaining order and clarity in the cash-handling process.
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Counting Coins:
- Similar to bills, coins should be counted twice to ensure the accuracy of the total deposit amount. Coins come in various denominations, and meticulous counting is essential to avoid discrepancies.
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Mailing Address:
- The article provides the mailing address for the Harvard University Cash Receipts Office. This is a critical piece of information for individuals or organizations making cash deposits to ensure that the funds reach the intended destination securely.
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Contact Information:
- Contact details, including a phone number (T: (617) 496-8332) and an email address (cash_receipts@harvard.edu), are provided for inquiries. This demonstrates a commitment to customer service and accessibility, essential aspects of efficient cash management.
In summary, the article covers best practices for handling cash receipts, including thorough counting of bills and coins, proper bundling techniques, and essential contact information for further assistance. These practices are designed to uphold the integrity of financial transactions, reduce errors, and ensure a streamlined cash management process.