University of South Florida
Credit Card Presentation
Banking, Cash Collections and Reconciliation training:
Today’s training has been design for all departments that are
using credit cards, new staff that need to understand the process of
reconciling the credit cards. We encourage you to have your PCI
compliance test up to date.
University general ledger accounts:
On this training we will talk about the credit card account, the People soft account
and Banner account.
In the general ledger they all have a unique account number.
If the deposit number or the paperwork submitted to the cashiers office is not
properly identified, a deposit could be posted in the incorrect general ledger account.
Account
General Ledger account
Credit Card
10061
People soft
10011
Banner
10001
New Updates
• On October 1, 2015 the market started with the EMV to prevent identity theft.
• University has changed their credit card processor company from Elavon to
Wells Fargo Merchant Services.
• We are right now having all Visa and Discover merchants being setup new with
Wells Fargo. Due to negotiations it is a little behind but we are working on it.
We will also have new credit card machines to comply with the EMV and also
IT will be installing them on the different campus to make sure the setup and
place where the credit card machines are will be safe.
• Once we get the new merchants I will send out the website to view your
merchant statements online as we have right now.
• Be patient and don’t hesitate to ask any questions
Requesting a new credit card merchant
1.Send an email requesting your new credit card merchant
(account) to General Accounting. (nmerced@usf.edu)
2. A form will be sent to you to provide the merchant name, the contact person,
phone number, fax number, email address and campus mail address.
3. We will also need a chart field to post the revenue and the merchant fees.
4. Also specify which credit card types would you like to accept:
-Visa .95%
- Master Card 1.50%
- Discover Card 1.40%
- American Express 2.01%
Wells Fargo Merchant Services – Company that
process the credit cards
1. On their website https://www.myclientline.net,we can view all
our credit card deposit activity, chargebacks, merchant fees at all
times.
2. All departments will have the access to this website and they are
responsible of reconciling on a monthly basis.
3. Starting this year we are going to require the departments to send
us the signed first page of the merchant statement as proof of
reconciled. Please reconcile your account and save a copy for
audit purposes on your department as well.
Recording credit card deposits:
1. All credit cards being processed thru touch net are posted on a daily basis by the
cashier’s office.
2. All departments that send or walk over the credit card deposits to the cashier’s
office should do them on a daily basis. Please remember the correct chart field, the
deposit number and the amount.
3.The deposit number for Visa and Master Card merchants is the last five numbers
of the merchant number for example USF Athletics – 8010960064 = 60064
4. For American Express merchants the deposit number is:
376 + the last three numbers of your merchant number for example
USF Athletics – 4098139008 – 376008.
Deposits sent to the cashiers thru email
When sending the cashiers office deposits thru an email please remember
to : ( cashiers@usf.edu)
• Attach paperwork with deposit number, amount, date and for ex. if it
is a credit card or lockbox deposit since they belong to different general
ledger accounts specify what type of deposit it is.
• Make sure the email was received by the cashiers office and that you
have a confirmation from them.
• Also if it is a correction make sure to write a brief but clear note of
what is being corrected.
Miscellaneous Receipts Form:
USF
University of
Department :
College of Arts & Science
Deposit Number:
South Florida
53048
Batch#
Visa
319
Original Deposit Date:
College of Arts and Science
4/19/2010
Visa / Master Card - Touchnet
Please provide copy of original transaction and clearly state the correction for the cashiers office to be able to process.
PEOPLESOFT Chartfields
Oasis Detail
GL UNIT: USF01
Code
Description
Oper Unit
Department
TPA
120100
Account
Fund
44000
Initiative
01001
Product
0
Project ID
0
AMOUNT
60.00
Sales Tax
Note:
This is a posting of outstanding items of the following
dates.
See details on the back support page.
Total Deposit
_______________________________
Reviewer Name
_______________________________
Preparer Name
______________
Telephone
______________
Telephone
$
60.00
Add all backup paperwork needed:
All departments that originate their own Miscellaneous Receipts
Form should include back up paperwork for example : copy of the
invoice, check , credit card slip, etc.
All information pertaining the deposit should be included in order
to have backup papers for future reference.
Do not change in the Miscellaneous Receipts Form the order of the
chart field. It is in order for the cashiers benefit.
Taking deposit paperwork to the cashier’s office:
1. The Cashier’s Office rules are: take all deposits to the office before 2:30
p.m. in order to be processed the same date.
2. If a deposit number is not on the paper submitted it will be returned to
the department.
3. Identify clearly if it is an e check, check, lockbox, credit card and
remember all American Express deposits should be posted separate from the
Visa, Master Card and Discover Card.
4. If submitting a prior month correction please write a note stating the
correction and the original transaction’s date and amount to facilitate the
reconciliation process.
Departments reconciliation:
1. All departments are responsible of reconciling their credit card
account on a monthly basis.
2. Find your Book side at FAST – DATA MART – FINANCE
MART
3. The credit card account in the General Ledger is 10061.
4. Compare all deposits posted in your revenue account against your
merchant statements information which is your Bank side.
5. It is your responsibility to follow up, dispute and resolve all
chargebacks done to your credit card account.
6. Save a copy of your reconciliation for audit purposes.
Department reconciliation:
Book Finance Mart
•
•
•
•
•
•
•
Go to USF portal
•
•
•
View Report
Data mart
Finance Mart
On report type: select
Balance Sheet Summary
Enter the department # and the fund
Select : check to enable period
selection
Select 10999 Total Cash
Select account 10061 which is the
credit cards GL account
Bank Merchant statements
• Go to
www.merchantconnect.com
• Go to merchants and log in
with user id and password.
• Select the date and print or
view report online.
• Compare deposits from the
Finance Mart Report with
the Merchant statements
report from Wachovia
Bank.
Chargeback recording:
1. The contact person for the department will receive a chargeback
document that the bank sends to General Accounting and they
make a copy and send to the contact person via campus mail .
2. It is your responsibility to print your merchant statement and
review if any chargeback has been charged to your account, follow
up with the student or owner of the credit card. Dispute and send
any information the bank is requesting.
3. Send the appropriate Miscellaneous Receipts form with the
posting of the chargeback to the cashier’s office. Also remember to
write a note and include any backup paperwork.
All corrections and chargebacks posting should be on the
same month
:
1. All prior month corrections should be stated in a note in the Miscellaneous
Receipts form sent to the cashiers. Include as much information to be able to
tie the correction to the original transaction.
2. All chargebacks are always in the first page of your merchant statements.
3. All corrections and chargebacks should be posted or corrected in the same
month .
4. If a chargeback has not been posted or a correction done, when General
Accounting reconciles and finds it they will send you an email informing
you of the chargeback not posted. The date in the bank and amount will be
provided in the email.
General accounting reconciliation process:
The accountant has 30 days to reconcile the accounts for
all the credit card departments.
There is 30 days to make corrections for the current
month.
After 60 days I will send you and email with details
requesting the correction of old outstanding items.
CONTEMPORARY ART MUSEUM
78008
T otal DR/CR
Debits
P osting
P revious M onth
DIT
Reclass
E quals
in Books
Booked
E rrors
In Bank
In Books
From
Bank
15,974.99
( 1,549.00)
( 90.00)
2,339.50
20.00
300.00
15,074.49
1
T otal
P rior
In Bank
Debits
Debits
Bank
E quals
in Bank
DIT
Not Book
P osted
Not P osted
Correction
Books
15,086.49
-
312.00
( 1,549.00)
-
-
15,074.49
Recap W achovia
BO O KS
Date
Account
Amount
W ells Fargo Bank
S ubtotals
P osting
MEMO
E rrors
P revious
In Books
Date
Account
Amount
P revious
In Bank
2/4/2013
78008
412.00
2,339.50
2/5/1901
78008
5,555.00
5,967.00
8,306.50
2/6/2013
78008
425.00
2/5/2013 78008237020513
734.99
2/7/2013
78008
309.99
2/6/2013 78008239020613
165.00
2/8/2013
78008
50.00
2/12/2013
78008
115.00
2/14/2013
78008
5,627.50
2/15/2013
78008
2,280.00
2/28/2013
78008
312.00
2/11/2013 78008243021113
300.00 Reclass f rom Banner
5,627.50
2/12/2013 78008245021213
2,370.00
2/18/2013 78008249021713
( 1,549.00)
2/25/2013 78008250022613
MEMO
S ubtotals
2/4/2013 78008235020413
2/10/2013 78008241021013
S ubtotals
( 90.00) Deposit dif f erence between
books and bank
5,967.00
78008
2,187.00
78008
152.50
P rior month
734.99
deposit booked
in this month
165.00
20.00
Note:
Note:
T his part of the reconciliation is the books side where all the deposits
T his is the bank side obtained f rom the M erchant statements.
posted by the cashiers will appear. T he Account is composed of the merchant number f ollowed by the
All deposits that hit the bank are here and any debits or chargebacks will be
batch number and the date. E x. M erchant number 78008 Batch number 235 Date 020413.
on the bottom where it says Bank Debits.
T his inf ormation is downloaded f rom Finance M art or Fast.
Bank Debits
2/16/2013
78008
S ubtotals
( 1,549.00) chargeback
2,339.50
1
Understanding your
merchant statements
Credit Card Statements
Visa, Master card and Discover merchant
statements:
Go to
https://www.myclientline.net/
Log in with your user Id and password
Proceed to My Reports
Select Online Statements
Select the date of the month you want to print
Select Format PDF
Print statement
American Express merchant statements:
Go to https://sso.americanexpress.com
Log in with your user id and password
Select the month you need to view an hit view statement
If you need to view a prior month statement go to customize statement
Select the month and hit Go
Select view E statement
Select print
Hit print
The merchant fees are called Discount Amount on the American Express
statements.
Credit card machine replacement:
Please contact Cherie Carson or Noemi Merced in
General Accounting to request a new credit card
machine.
If you order paper for your credit card machine, make
sure you have them send the invoice to your
department not to us.
Credit Cards with Microchips
What is EMV?
EMV is an open-standard set of specifications for smart card payments
and acceptance devices. The EMV specifications were developed to
define a set of requirements to ensure interoperability between chip-based
payment cards and terminals. EMV chip cards contain embedded
microprocessors that provide strong transaction security features and
other application capabilities not possible with traditional magnetic stripe
cards.
Where has EMV been adopted?
Eighty countries globally are in various stages of EMV chip migration,
including Canada and countries in Europe, Latin America and Asia.
According to EMV Co, as of December 2013:
What are the benefits of EMV?
The biggest benefit of EMV is the reduction in card
fraud resulting from counterfeit, lost and stolen
cards. EMV also provides interoperability with the
global payments infrastructure – consumers with
EMV chip payment cards can use their card on any
EMV-compatible payment terminal. EMV technology
supports enhanced cardholder verification methods and,
unlike magnetic stripe cards, EMV payment
cards can also be used to secure online payment
transactions.
Why are EMV credit and debit cards and EMV payment transactions
secure?
EMV secures the payment transaction with enhanced functionality in three
areas:
Card authentication
Cardholder verification
Transaction authorization
Information on the specifications and organization is available at
http://www.emvco.com
Contact information :
The credit card accountant reconciling is Noemi Merced
General Accounting Manager is Cherie Carson.
Phone number (813) 974-4914 Noemi Merced
Phone number (813) 974-7686 Cherie Carson
Fax number
Email address
(813) 974-2622
nmerced@usf.edu
carsonc@usf.edu