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2013 Auxiliary Forum Indiana University

2013 Auxiliary Forum Indiana University. Ruth Harpool Director Treasury Operations Indiana University. Topics. Credit Card Processing Reconciliation. Credit Card Processing Methods. Over the Counter Point of Sale Terminals Dept pays for terminal. Treasury obtains from our Acquirer

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2013 Auxiliary Forum Indiana University

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  1. 2013 Auxiliary ForumIndiana University Ruth Harpool Director Treasury Operations Indiana University

  2. Topics • Credit Card Processing • Reconciliation

  3. Credit Card Processing Methods • Over the Counter Point of Sale Terminals • Deptpays for terminal. Treasury obtains from our Acquirer • Cash registers (vendor software) • Dept purchases, through IU Purchasing • Must be reviewed and approved by IU PCI Ops committee before purchase • Web site linked to a third party processor or payment gateway • Must be reviewed and approved by IU PCI Ops Committee before purchase • IU Pay Plus • T2 • Opera • Etc

  4. Wireless vs. Mobile • What does it mean to take a payment with a Wireless device? • What does it mean to take a payment with a mobile device?

  5. Why do we have to Reconcile? Refer to Policy FIN-Tre-VI-110 http://policies.iu.edu/policies/categories/financial/treasurers-office/FIN-TRE-VI-110-accepting-electronic-payments.shtml Entities must accept only payment cards authorized by the Office of the Treasurer, Treasury Operations and agree to operate in accordance with the contract(s) the University holds with its Service Provider(s) and Card Brands.

  6. Why do we have to Reconcile? Indiana University Payment Card Merchant Agreement http://treasurer.indiana.edu/ebusiness/doc/iu_pmtcard_merchant_agreement.pdf 5.2 Reconciling It is the responsibility of the Merchant to reconcile the settlement amount in the general ledger (via the IUIE) to the credit card receipts and the Merchant Billing Statement provided by the Processor. Reconciling must be done on a daily basis.

  7. Where to find the tools you need…

  8. Check for daily transaction activity on Resource Online System Finished with Daily Reconciliation No Activity The Daily Reconciliation Process Activity Use the Reconciliation Tools to determine why totals do not match*** Confirm daily credit card receipt totals match activity in Resource Online System Finished with Daily Reconciliation Transactions do not match Issue(s) resolved NOTE: The action steps shown in this flow chart map the process of what it means to reconcile daily. For audit purposes log daily results. Transactions match Issue(s) not resolved Contact Treasury Finished with Daily Reconciliation • ***Reconciliation Tools • IUIE Report-Credit Card Transaction Detail • IUIE Report-IU Pay Plus transaction • KFS General Ledger

  9. Accounting for Credit Card Transactions • See Hand Out • ROL • There are hot links in the document that will take you to wonderful places.  • Examples in document: • Resource Online screen shots • Terminal Transaction Detail Report • Terminal Settlement Report • IUIE Report-Credit Card Transaction Details • FIS Screen shots (soon to be updated to KFS) • IU Pay Plus IUIE reports • More

  10. Discussion or Questions about Reconciling?

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