Presentation Transcript

1. Credit Card Journal Entry Training in PeopleSoft Financials

   Office of the Controller
2. Log in to PeopleSoft Financials Office of the Controller
3. Navigating in PeopleSoft Financials Office of the Controller
4. 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
5. Journal Header Long Description: Type of credit card AMEX VISA/MASTERCARD/DISCOVER Date of settlement/batch Brief description of sale Net amount of sale/refunds Name of Department 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
6. Screen Shot of Journal Header Long description must have 5 items Department Source Reference ACTUALS AMEX VIS/MC/DSC Office of the Controller
7. Journal Lines Speed Type: In line 1 in the empty box type in activity # 1104120007 In line 2 in the empty box type in your department’s activity number (10 digit number) Account In line 1 in 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. Office of the Controller
8. Journal Lines Cont. Sales Tax If recording Sales Tax you must use the Activity Number and Sales Tax liability account below: 1104120007 311315 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 619099 It is preferable not to use account 619099. If the decision is made to record the department’s revenue in 619099, please send an email to merchant@fiu.edu with an explanation detailing the purpose of selecting the miscellaneous account. Office of the Controller
9. Screen Shot of Journal Lines 10 digit activity number Click to add line 5 digit number If sale + w/112003 If refund – w/112003 Sale tax account Office of the Controller
10. 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 112009 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
11. Screen Shot of Journal Lines Click Process Journal Number (keep this for your records) Click Save Office of the Controller
12. Record Retention & Security Measures The Department’s Responsibility: Retain your merchant location(s) Monthly Bank Statements Journal Number Information Batch Receipt from POS Terminal Online System Report Do not store credit card information Truncate card number when applicable Office of the Controller
13. Do you have any questions or concerns while creating a journal? Feel free to contact Merchant Solutions via email or phone. merchant@fiu.edu 305.348.2052 Office of the Controller
14. Questions? Office of the Controller