SPCC Online Reconciliation(OLR )

1. SPCC Online Reconciliation(OLR) Office of Procurement February 2014

2. Orientation: Why are we here? • The William & Mary Promise: • "The Promise calls on the whole William & Mary family to contribute in the ways each of us can contribute: students through tuition, alumni and friends through philanthropy, and faculty and staff through productivity gains in our work on campus. We will all benefit from our common success.“ Taylor Reveley, 12/17/2013 • Process Efficiency: Remove duplicated efforts, simplify and streamline the reconciliation process, post better data to Banner, and eliminate paper. • Further Reduce Administrative Costs: SPCC vs. Purchase Order • Results of the 2012 RPMG Purchasing Card Benchmark Surveyshow that organizations realize significant costs savings by moving payments from traditional PO processes to the Small Purchase Charge Card. • Average administrative costs per order based on RPMG Survey • Purchase Order-based process - $91 • SPCC procure to pay process - $ 17 • Administrative cost savings per SPCC order - $74

3. SPCC vs. PO Transactions: What If? *Average administrative cost includes sourcing, purchasing, and payment activities

4. Added Program Benefits • Transactions will automatically map to index and account codes (editable) • Transactions will post to Banner faster and show more information (description) • New user interface (Works 4.0) – http://payment2.works.com/works • Automated reporting for Cardholders, Supervisors, Accounts Payable, and Sponsored Programs • The first Higher Ed. in the Commonwealth to utilize the bank’s receipt imaging software • Increases accountability & visibility of cardholder transactions • Funds are withheld if reconciliation is not complete

5. What is Online Reconciliation? • OLR replaces the paper reconciliation process with an online process • A transaction posts to the bank, • Automated notification email is sent to the Cardholder, • Cardholder logs into the bank’s online system to perform allocation, receipt imaging and sign off, • Automated notification email is sent to the Cardholder’s Supervisor/Reviewer, • Supervisor/Reviewer logs into the bank’s online system to review the transaction and sign off, • Transactions are reviewed by Procurement, Accounts Payable and Sponsored Programs for accuracy and compliance. • Transactions are batched and uploaded to Banner.

6. OLR Timeline • Schedule for allocation, receipt imaging, file transmission, and Banner upload. • Throughout the billing cycle, Cardholders place transactions – Cardholders and Supervisors complete allocation, receipt imaging and signoff. • The billing cycle closes ~ 15th of the month. • Automated reports are delivered to Cardholders and Supervisors 2 days after cycle close. • Cardholder and Supervisor allocation, receipt imaging and sign off must be finalized by 23rd. • Transactions are reviewed by Accounts Payable, Procurement and Sponsored Program from the 23rd through the 28th. • A transaction file is transmitted to W&M around the last day of the month for upload to Banner.

7. Works 4.0 Overview (Cardholder) Use the navigation bar to search through expenses or view/create reports. Items requiring your action will appear in the Action Items section of the page. Your SPCC account will appear in the Accounts Dashboard section of the page Upon login you will land on the Works home page.

8. Cardholder Action Items: Signing off on transactions As transactions post to your account they will appear as transactions available for sign off. In this example, the cardholder has 2 transactions pending sign off. Click on the Pending link to view the transaction detail and sign off on the transaction.

9. Cardholder Action Items: Signing off on transactions Clicking on the Pending link will bring you to the Expenses screen where you can review transactions pending sign off. Click on the document number to access the transaction’s sub-menu. Notice that the transaction has automatically allocated to a default index and an account code based on the vendor’s merchant category code (MCC). From this sub-menu you can view the transaction details, reallocate the transaction, sign off on the transaction, attach a receipt, or dispute the charge.

10. Allocating Transactions Enter a description for the transaction. This description will be loaded to Banner. You can change the default index or account code by typing the new code or selecting it from a pick-list. Descriptions are provided for all codes. You can allocate to multiple index and account codes by adding or duplicating a line and entering the accounting information. Click the Save button then Close when finished.

11. Attaching Supporting Documentation To add supporting documentation to a transaction, click the check-box next to the transaction and select the Manage Receipts option from the sub-menu.  A pop-up box will then appear where you can add a new receipt by uploading a file from your computer.

12. Comment and Sign off Click the Sign Off button when allocation is complete and you have added a receipt. A comment box will pop-up after you click the Sign Off button. Add any information the Supervisor/ Reviewer might need to approve the transaction. (examples, PCO numbers, detailed description of transaction, confirmation of receipt of goods or services, etc.) Click OK to route to the Supervisor/Reviewer.

13. Supervisor / Reviewer Sign Off Upon login the Supervisor/ Reviewer will see the same Works home page showing items requiring review. In the Action Items box, you will see transactions that you have flagged as well as transactions ready for sign off and reports ready to download. To signoff on items, click on the Pending link in the Action Items box.

14. Supervisor / Reviewer Sign Off Clicking on the Pending link will bring you to the Expenses screen where you can review transactions pending sign off. Click on the document number to access the transaction’s sub-menu. Clicking on the Sign Off item will show the Sign Off pop-up box. Clicking on the View Full Details item will bring you to the transaction details. This is an example of a flagged transaction.

15. Transaction Details At the top of the Transaction Detail screen you will see general transaction data. The next section will show allocation information. Click on the Receipts tab to view the attached receipt. Use the Actions drop-down arrow to sign off. Followed by transaction reference and tax information. The Transaction Detail section will show the individual items purchased. Transaction detail will not be available for all transactions. Click the Save button if you made any changes.

16. Navigating Works 4.0 http://payment2.works.com/works/

17. Go-Live! • Questions? • Call me or email with feedback and questions! • Additional Training Needs • Thank you! • Pilot Program Participants • Accounts Payable • Information Technology • VIMS Office of Finance • Sponsored Programs • Bank of America and Department of Accounts