Credit Card Reconciliation Procedures

Credit Card Reconciliation Procedures TABLE OF CONTENTS REGISTERING CREDIT CARD RECONCILE THE CREDIT CARD (PART 1) PRINTING REPORT SUBMITTING HARD COPY & RECEIPTS (PART 2) OVERDUE NOTICES 2 3 7 10 10 Page 1 of 10 http://www.bschool.pepperdine.edu/finance/ Registering Credit Card To register your card: 1. Go to https://access.usbank.com and click “Register Online” 2. Enter short name, PEPPER 3. Type your 16 digit account number in the “Account Number” field, do not include spaces or dashes (ex. 1234567891234567) 4. Select the credit card expiration date from the “Account Expiration Date Month” drop down list. 5. Enter your billing address zip code. Please refer to your credit card packet for zip code. 6. If you have a foreign zip code, type 00002 in zip code 7. Click “Register This Account” if there is only one card to register. For additional cards, click “Additional Accounts”. 8. Click “I Accept” for Licensing Agreement 9. Select a User ID, must be 7 to 12 characters. Can be alpha and/or numeric. If possible use your Pepperdine University User ID. 10. Select a password. Must be 8 to 20 characters, with at least one alpha and one numeric character. If possible use your Pepperdine University Password. 11. User Verification authenticates your account if you forget your User ID or Password. 12. Complete the contact information fields. 13. Phone number should not include dashes or spaces. 14. When finished entering all cards, click “Continue” 15. If any of your entered information is not valid, the system will return an error message. You have three attempts to correct the information. If all three attempts fail, the account with incorrect information will be locked out from self-registration. You will need to contact US Bank Customer Service at 1-877-8879260 to unlock the account. Page 2 of 10 http://www.bschool.pepperdine.edu/finance/ Reconcile the credit card (PART 1) 1. Log into your account (https://access.usbank.com). The online reconciliation must be completed by the end of the month. After the end of the month, no further changes will be made. 2. This is the home page of the credit card. To begin the reconciliation process, click on either the Purchasing Card or Corp Card (T&E Card) Select Card Page 3 of 10 http://www.bschool.pepperdine.edu/finance/ 3. Choose the appropriate billing cycle in the “Billing Cycle Close Date” drop down menu. “Open” is for the current billing cycle. 4. To allocate a charge, click on the “Accounting Code” Page 4 of 10 http://www.bschool.pepperdine.edu/finance/ 5. This Transaction Detail screen allows you to change the Peoplesoft Chartfields. If you do not have a copy of the latest chartfields, please refer to the GSBM Website at www.bschool.pepperdine.ed/finance. Make all appropriate changes to all the chartfields: 1. Fund 2. Dept 3. Account 4. Class 5. Program 6. Oper Unit 7. Product Code After all fields have been updated, click on “Save Allocations”. Update If the charge must be split between different department or accounts. An additional line can be added. Simply indicate the number of additional allocations, then click add. Page 5 of 10 http://www.bschool.pepperdine.edu/finance/ 6. After the chartfields have been updated, comments must be added for each charge. Click on the “Comments” tab in the Transaction Detail Screen. Indicate the who, what, where, why for each individual charge in the Comments box. Then click “Save Comments” Page 6 of 10 http://www.bschool.pepperdine.edu/finance/ Printing Report (Access Online) After all charges have been reallocated (before the end of the month), a report needs to be generated. This report contains the reallocated chartfields, comments, and charges. See pictures for further detail. 1. Select the Posting Date Range (26th of cycle start to 25th of cycle end) 2. Under the “Payments” section a. Select “Include” b. Section select “Include” 3. Under the “Additional Detail” section a. Select -“Display Transaction Comments" b. Select -"Display Allocation Detail" 4. At the bottom of the page, select the card you want to print. 5. Click on "Run Report" a. If your pop-up blocker is enabled, hold the control key down while you select "Run Report". b. Do not release the control button until the report appears. Page 7 of 10 http://www.bschool.pepperdine.edu/finance/ Select “Posting Date Range” Select billing cycle dates: From 26th of the month To 25th of the month Check “Include” for: Payments Fees Check both “Display Transaction Comments” & “Display Allocation Detail” Page 8 of 10 http://www.bschool.pepperdine.edu/finance/ Select the proper Account Number Select Card Click “Run Report”. If the Pop-Up block is Click “Run Report”.the pop-up blocker until report enabled, hold If “Control” key is enabled. Hold control key until report appears. appears. Page 9 of 10 http://www.bschool.pepperdine.edu/finance/ Submitting Hard Copy & Receipts (Part 2) After the online reconciliation has been completed for all charges in the billing period, the hard copy must be submitted to Accounts Payable. The following items must be submitted to Accounts Payable 1. Credit Card Statement with the following signatures (this can be printed online) a. Cardholder b. Supervisor 2. Report via Access Online (see Printing Report) a. The report must contain i. Reallocated chartfields ii. Comments for each charge 3. All Receipts a. Original receipts taped (not stapled) to an 8 ½ x 11 piece of paper b. If a receipt is lost and over $25 i. Memo stating: 1. The receipt was lost 2. Vendor name and amount 3. No alcohol was purchased (restaurants only) ii. Send entire credit card packet to Provost for approval Overdue Notices If after 60 days you have not reconciled, you will receive a sixty-day overdue notice. If after 90 days you have not reconciled, you will receive a ninety-day overdue notice. If you receive three (3) ninety-day overdue notices, within a twelve month period, your charge card privileges will be revoked for one year. If, after your charge card privileges have been reinstated, you receive one ninetyday overdue notice your charge card privileges will be permanently revoked. Page 10 of 10 http://www.bschool.pepperdine.edu/finance/