Lesson 4: Reconciling Transactions

1. Lesson 4: Reconciling Transactions

2. Training Objectives • At the conclusion of this lesson, PCMS LAPC’s and APC’s will be able to: • Query a cardholder account. • View, dispute and reconcile transactions. -

3. Overview - Main Window

4. Main Window – ID Information

5. Main Window – Transaction Tab

6. Main Window – Transaction Tab

7. Main Window – Transaction Tab

8. Main Window – Transaction Tab

9. Main Window – Transaction Tab

10. Main Window – Purchase Detail Tab

11. Main Window – Purchase Detail Tab

12. Main Window – Purchase Detail Tab

13. Main Window – Purchase Detail Tab

14. Main Window – Transaction Maintenance Tab

15. Main Window – Transaction Maintenance Tab

16. Main Window – Transaction Maintenance Tab

17. Main Window – Disputes Maintenance Tab

18. Main Window – Disputes Maintenance Tab

19. Main Window – Disputes Maintenance Tab

20. Main Window – Disputes Maintenance Tab

21. Main Window – Disputes Maintenance Tab

22. Querying Transactions • Cardholder can query all their transactions OR specific transactions. • APC\LAPC can query transactions of all their designated Cardholders OR a specific transaction of a specific Cardholder.

23. Querying All Transactions • Hit the Button on the Command Bar. • Cardholder Accounts and Details Will Appear. • Use scroll bar to navigate between Cardholders.

24. Querying Specific Transactions • Hit the button on the command bar. • Select a specific account. • Place cursor in any field and hit the button. • Account information will remain, field values in the Card Transaction area will be cleared. • Any field in the Card Transaction area can now be queried on. Place the cursor in any of these fields and enter a value you wish to search on. Hit the button; • Query results will appear. • Range operators and wildcards can be used

25. Practical Exercise • Query all Cardholder accounts, then query a specific Cardholder account from the list of Cardholder names. • Execute a specific query to find all transactions where the Merchant is located in California (CA). • Query transactions greater than $50.00. • Query a specific Merchant name and view a shorter list of transaction for the Cardholder. E.g. Toshiba, ACE or Spectrum.

26. Reconciliation Process • View the Transaction in PCMS. • Verify the Transaction Details Are Correct Against Paperwork and Ensure All Details Are Correct. • Select Action Code. • Enter Comments and Dates. • Modify Lines of Accounting If Necessary. • Save Transaction.

27. Reconciling Check Transactions • Must obtain the Merchant’s TIN at the time of purchase . • Merchant Address, Merchant City, Merchant State, and TIN fields will appear white. Enter this information when the transaction is approved. • The Check Number will appear in Comments Field, Entered by the Bank .

28. Action Codes Days to reconcile from date of purchase: U – 30 days Q – 30 days D – 60 days

29. Modifying Lines of Accounting • To modify a line of accounting currently attached to the transaction, click modify. All field values from that line, except Account Description, are copiedto the bottom part of the window. Change the data as needed. Repeat these instructions for each line to be modified. • To modify all current lines of accounting, click Modify All Acctg. All current lines of accounting are copied to bottom part of the window. Change data as needed. • Click Saveon the Command Bar to update the database

30. Reconciling Credits • Transaction Credits Have a Minus Sign ( - ) in Front of the Transaction Amount: • View the Transaction. • From the Transaction Maintenance Tab, Change Action Code to Approved. • Hit Save on the Command Bar.

31. Locked Transactions • Locked Is the Only Status That Will Prevent a Cardholder From Being Able to Reconcile. • The Different Accounting Status’ Are: • O = Obligated • P = Paid By FFIS • L = Locked • N = New (Not Obligated and Not Paid)

32. Locked Transactions

33. Practical Exercise • Note: Login with a Cardholder ID to complete the following exercises. • Reconcile the Transaction to “Sita Business System” in the Amount of $172.00 Using the Following Information: • Approve the Transaction. • A Computer Cart Costing $172.00 Was Due for Delivery on July 23rd 2002. • The Goods Were Received a Day Later Than Expected, Due to Inclement Weather.

34. Practical Exercise • 2. Reconcile the Transaction to “Standard Copy Products” in the Amount of $2,195.00 Using the Following Information: • Approve the Transaction. • Copier Materials Were Shipped Same Day Delivery on July 22nd 2002. • Goods\Services Were Received on the Date Expected. • The Correct BOCC Formation for This Transaction Is: 2672.

35. Practical Exercise • 3. Reconcile the Transaction to “Transcender Corporation” in the Amount of $2,644.00 Using the Following Information : • Approve the Transaction. • The PC and Monitor Were Received on July 21st 2002. • There Is Currently Not a Description Available for the SF-281 Code. • The Accounting Information Needs to Be Distributed Across the Following Accounting Codes and BOCC’s: Accounting Code _____, BOCC _____, Distribution Percent 50% \ Accounting Code _____, BOCC _____, Distribution Percent 50%.

36. Practical Exercise • 4. Reconcile the Check Transaction to “Wilson Carpet Service” in the Amount of $1,000.00 Using the Following Information : • Approve the Transaction. • Check No.: 001009. • Merchant Location: Alexandria, VA. • Tax ID No.: 52-7600000. • Purchase Date Was July 22nd 2002 and Goods\Services Were Received One Week After Purchase Date. • Bank Fee Should Be Calculated at 1.5% of the Check Amount. • Approve the Bank Fee Associated With This Check Transaction.

37. Practical Exercise • Reconcile the Transaction to “Nyma Inc.” In the Amount of $59.00 Using the Following Information: • Only 5 of the 10 Glass Beakers Were Received on 07/30/97, Due to Low Stock Supplies. The Remaining 5 Beakers Will Be Shipped on 08/07/02 (Next Day Delivery). • Unit Price Is $5.50, Shipping and Handling Is $4.00. • Invoice Number: 56084. • Order Number: W58625-HAV.

38. Practical Exercise • Reconcile the Transaction to “Corvision Media, Inc.” In the Amount of $705.00 Using the Following Information: • The Goods\services Were Received on the Date Expected, July 21st 2002. • Order Was for Cable Cutter (Hydraulic) $678.60; Twist Drills ¼” Diameter, 6-1/8” Overall Length $26.40. • The Twist Drills You Received Were 1\2” Diameter.

39. Disputes

40. Disputes • When Should a Transaction Dispute Be Filed? • When Invoice Amount or Goods/Services Received Are Not What Cardholder Believes He/She Purchased. • Before Filing a Dispute, Cardholder Should Investigate the Problem and Attempt to Resolve. • Cardholders’ Have 60 Days Following Purchase Date to Dispute and Resolve a Transaction. • Dispute Rights Do Not Extend to Convenience Checks or Convenience Check Fees.

41. Disputing a Transaction • From the Transaction tab select the transaction by placing the cursor in one of the fields on the line. • If the dispute is over merchandise not received, leave Date Received blank until the merchandise is actually received. • Go to the Transaction Maintenance tab and provide the appropriate reconciliation information. • Go to the Dispute Maintenance tab.

42. Resolving Disputes • To Resolve the dispute, query the transaction and go to the Disputes tab.

43. Resolving Disputes • Enter Date Resolved. • Go to the Transaction Maintenance tab and update accounting information, if necessary. • Go to the Transactions tab and change the Action Code to Resolved. • Click Save on the Command Bar

44. Transaction Credits & Debits • A transaction must be paid before it can be disputed. • After payment has been made, the description field of the transaction will display the message Accepted by FFIS. • If cardholder disputes a transaction, bank issues temporary credit to cardholder account while it investigating the dispute.

45. Transaction Credits & Debits • The temporary bank credit is called a Retail Credit. • Retail Credit Adjustment will appear in Merchant Name with a minus ( - ) sign preceding the transaction amount. • The Cardholder must reconcile this transaction by approving it. • The bank tries to resolve the dispute with the merchant.

46. Transaction Credits & Debits • If the Dispute Is Found in the Cardholder’s Favor: • A Transaction Credit will be issued by the Merchant. • This transaction will display the Merchant name in the “Merchant Name” field and will have a minus “-“ sign in front of the transaction amount. • The Cardholder must reconcile this credit by approving it. • The Bank will then issue a “Retail Debit” in PCMS, with the words “Retail Debit Adjustment” in the Merchant Name field. The Cardholder will also reconcile this credit by approving it; • The disputed transaction is then placed in a Resolved State by the Cardholder

47. Transaction Credits & Debits • If the Dispute Is Found in the Merchant’s Favor: • A The Bank Will Issue a Retail Debit, Which Offsets the Temporary Credit. • A Credit From the Merchant Will Not Be Generated. The Original Charge to the Cardholder Account Will Stand. • Cardholder Is Not Informed by the Bank That Dispute Found in the Merchant’s Favor . • When Cardholder Receives Retail Debit, Approve Debit and Place Disputed Transaction in a Resolved State.

48. Practical Exercise • Note: Login with a Cardholder ID to complete the following exercises. • Reconcile the Transaction to “Sita Business System” in the Amount of $432.50 Using the Following Information: • Goods\Services Were Received on the Date Expected, July 18th 2002. • Invoice States Order Placed Was: 2x Black Briefcases (Unit Price $43.55); 1x Audio Visual Cart 27” (Unit Price $320.45); Shipping and Handling Was $24.95. • The Amount Charged on the Invoice for the AV Cart Was Not the Amount Quoted at the Time of Purchase, Which Was $220.45.

49. Summary and Review • What Are the Differences Between Reconciling Transactions Made With Purchase Cards and Transaction Made With Checks? • How Do You Query Transactions Valued Greater Than $200? • How Do You Navigate Between Transactions Without Returning to the Query Screen? • What Is the Process You Follow If You Find a Discrepancy Between the Cost of the Item on the Invoice and the Transaction Value in PCMS?

50. Summary and Review • If You Order a Set of 10 Items and Only 5 Are in Stock and Shipped to You What Is the Reconciliation Process You Would Follow in PCMS? • What Is the Process for Disputing a Transaction? • What Is the Process for Resolving a Disputed Transaction?