Accounting for Transactions
Each card transaction must be accounted for; however, you will not need to prepare any Financial Information System (FIS) documents to book payment card transactions as income. All IU merchants are set up with an automatic feed into the general ledger (GL). The income will flow into the account number and object code that was provided when setting up your merchant account. If at any time a Merchant wishes to use a different account number or object code, they should contact Payment Card Services and we will have the data changed. It is the merchant's responsibility to ensure that the data is correct. It is important to keep the receipts from all transactions and the end of day batch totals for this purpose. You do not have to wait until the end of the month in order to balance your payment card transactions to the GL. You can look up the monies deposited into your FIS account at any time by following the steps below:
- Sign onto the FIS TP interface.
- Go to Inquiries, Balances.
- Click on General Ledger Entry.
- Enter the income account, sub account, object code, and sub object code you wish to query. You may also change the month and limit the document type to CCAD if you wish. Click on Report.
- The General Ledger Entry Screen should appear listing all of the transactions under the account information you provided.
The data will appear as a line item with the document type of CCAD. The document number identifies our processor and the date of the data transmission, not the transaction date (i.e. USB091801 identifies US Bank transmission on September 18, 2001). The date shown under the dollar amount is the transaction date that is fed into the GL and will match the date from the document number. It will be later than when you ran the actual transactions, as the information is fed into the GL between one and two business days later.
The detail, which makes up the total daily summary amount in the GL, can be obtained by running a query from the Indiana University Information Environment (IUIE). The availability of this detail will assist you in knowing the exact transactions (both debits and credits) that make up the feed into the GL and the monies that were deposited into your GL Income Account. There are two queries available:
For reconciling, you have your end of day receipts, the amount fed into FIS, and the detail of the transactions that make this amount. If these figures do not agree at any time, you must contact Payment Card Services. Your role as a Merchant is to reconcile the data to your FIS account and to work with Payment Card Services in solving any differences in a timely manner.
Each merchant receives monthly statements directly from our processing bank for reconciliation purposes showing each batch submitted. It is your responsibility to verify that this information is correct.
Contact Payment Card Services
