Accounting for Fees
You will not be billed for the discount fees by the vendors (MC/VISA/Discover/AMEX). MC/VISA fees are automatically fed into the GL much like the income. This data will appear as a line item with the document code of CCCH. The Office of the Treasurer then pays the total amount of fees for MC/Visa to our processor. For Discover/AMEX, the Office of the Treasurer initially pays the fees. A Service Billing Document (SB) is prepared for each Merchant's fees to reimburse the University according to the card type and fee rate for the payment made. The SB document will direct the expense to the FIS Expense Account number and object code that was provided when setting up your Merchant account. Any time a Merchant wishes to use a different account number or object code, they need only to inform Payment Card Services. If you are unsure which object code for expense is most appropriate, you can consult the chart of accounts for guidance.
Suggestions in the order as the "best" fit for payment card discount fees are:
| Campus | Object Code |
|---|---|
| Bloomington | 4512 |
| IUPUI | 4006, 5010, 4512 |
| Northwest | 4006, 5010 |
| Columbus | 5010 |
| East | 5010 |
| Kokomo | 5010 |
| South Bend | 5010 |
| Southeast | 5010 |
| BA | 5010, 4200 |
| IA | 4006 |
| UA | 5010 |
The individual expense account is accounted for as follows: The Expense account will be debited for the processing fees. The account will coincide with the merchant statements.
Contact Payment Card Services
