Credit Card Journal Entry Training in PeopleSoft Financials Office of the Controller

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Navigating in PeopleSoft Financials Office of the Controller

Navigation in PeopleSoft Financials Before clicking on Add make sure you select the date of the settlement/batch report NOT date of sale. Once date is selected click on Add Date of Settlement/Batch Click here after selecting the date Office of the Controller

Journal Header Long Description: 1.Type of credit card AMEX VISA/MASTERCARD/DISCOVER 2.Date of settlement/batch 3.Brief description of sale 4.Net amount of sale/refunds 5.Name of Department 6.Include comment if the sale is tax exempt Ledger Group: ACTUALS (should be already selected for you) Source: Your Department (max of 3 letters) (You can click on the magnifying glass to search for the name, but this field should be automatically filled in to minimize errors) Journal Class: please select one of the two credit card types Visa/MasterCard/Discover American Express

Office of the Controller Screen Shot of Journal Header Long description must have 5 items ACTUALS AMEX VIS/MC/DSC Department Source Reference

Office of the Controller Journal Lines Speed Type: In line 1 i n the empty box type in activity # In line 2 in the empty box type in your departments activity number (10 digit number) Account In line 1 i n the empty box type in the five (5) digit number of the Merchant account (112003) In line 2 in the empty box type in the revenue account that best describes your sale collected. All revenue accounts start with 6xxxx Amount: For a sale you must type in the total sale amount as a positive For a refund you must type the refund amount as a negative (-) Click on the plus sign (+) to add an extra line.

Journal Lines Cont. Sales Tax If recording Sales Tax you must use the Activity Number and Sales Tax liability account below: Note: If the sale is tax exempt, please include a comment in the long description of the journal. Recording sales in the Miscellaneous Revenue Account It is preferable not to use account If the decision is made to record the departments revenue in , please send an to with an explanation detailing the purpose of selecting the miscellaneous account. Office of the Controller

Screen Shot of Journal Lines Office of the Controller 5 digit number If sale + w/ If refund – w/ Click to add line 10 digit activity number Sale tax account

Saving and Processing Journal Lines Once you have recorded the net amount of sales with the correct GL Revenue accounts save the journal lines and the system will give you a journal number. You will notice that Intra-Unit Cash account will appear in your journal. This is due to the changes of the Cash Consolidation Project. Since the cash will be recorded in a different activity number than the revenue the system will balance itself by creating the Intra-Unit account. Your total net sales and credits will reflect a higher amount. The Intra-Unit Cash does not affect your net sales/refunds. After saving the journal please click on Process so that the Budget Status and the Journal status change from N N to V V Office of the Controller

Screen Shot of Journal Lines Office of the Controller Click Save Click Process Journal Number (keep this for your records)

Record Retention & Security Measures The Departments Responsibility: o Retain your merchant location(s) Monthly Bank Statements o Journal Number Information o Batch Receipt from POS Terminal o Online System Report o Do not store credit card information o Truncate card number when applicable Office of the Controller

Do you have any questions or concerns while creating a journal? Feel free to contact Merchant Solutions via or phone

Office of the Controller Questions?