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DL Reconciliation and Peoplesoft

DL Reconciliation and Peoplesoft. M.E.G Calabrese University of Minnesota – Twin Cities. Reconciliation and PeopleSoft. M.E.G. Calabrese - schmi138@umn.edu University of Minnesota – Twin Cities 15 years experience in Direct Lending

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DL Reconciliation and Peoplesoft

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  1. DL Reconciliation and Peoplesoft M.E.G CalabreseUniversity of Minnesota – Twin Cities

  2. Reconciliation and PeopleSoft M.E.G. Calabrese - schmi138@umn.edu University of Minnesota – Twin Cities 15 years experience in Direct Lending Approximately $3 BILLION in Direct Loans disbursed since 95-96. And all reconciled to $0 balances.

  3. Reconciliation It’s a Journey, not a destination…

  4. Keys to Reconciliation • Do not fear it; it’s not that bad. • Work your origination rejects. • Work your change rejects. • Work your disbursement rejects.

  5. Reconciliation and PeopleSoft • Find a method that works for your school, your system and you. • Keep on top of it.

  6. Reconciliation and PeopleSoft • Get your SAS (School Account Statement) as a fixed length report and retrieve from your SAIG mailbox. • SAS’s are generated the first of the month. • Download the files using the FA inbound process.

  7. Reconciliation and PeopleSoft • Enter your cash draws from G5 into “Manage DL Cash Transactions” page. • Reconcile your cash activity.

  8. Reconciliation and PeopleSoft • Run the “Generate Reconciliation Report” under the DL School Account Summary menu. • Identifies loans that exist in your system but not at COD • Reconcile cash draws • Loans or cash transactions that do NOT match show on report. Work these.

  9. Reconciliation and PeopleSoft • Realize that sometimes timing is an issue and that on the next month’s report there won’t be an issue. • If not timing, disbursement or change record not yet accepted at COD. Fix what is wrong.

  10. Reconciliation and PeopleSoft • Keep a copy of the PDF generated for auditors to show you’re doing monthly reconciliation.

  11. Reconciliation and PeopleSoft • Process at U of M: • Load SAS into Access database. • Load PeopleSoft query info into that database. • Use compare to find loans that do not match up (dollar amounts are off). • Fix those loans as needed.

  12. Reconciliation and PeopleSoft • Helpful queries: • Loans on hold (run daily) • Unbooked loans (run weekly) • Failed origination (run daily)

  13. Presenter Contact Information M.E.G. Calabrese University of Minnesotaschmi138@umn.edu612-624-0824

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