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Credit Card Journal Entry Training in PeopleSoft
Financials
Office of the Controller
Log in to PeopleSoft Financials
Office of the Controller
Navigating in PeopleSoft Financials
Office of the Controller
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
Office of the Controller
Journal Header
Long Description:1. Type of credit card
• AMEX• VISA/MASTERCARD/DISCOVER
2. Date of settlement/batch3. Brief description of sale4. Net amount of sale/refunds5. Name of Department6. 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
Screen Shot of Journal Header
Long description must have 5 items
ACTUALS
AMEXVIS/MC/
DSC
Department Source Reference
Office of the Controller
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)
AccountIn 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
positiveFor a refund you must type the refund amount as a negative
(-)
Click on the plus sign (+) to add an extra line.
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 [email protected] with an explanation detailing the purpose of selecting the miscellaneous account.
Office of the Controller
Screen Shot of Journal Lines
Office of the Controller
5 digit number
If sale + w/112003If refund – w/112003
Click to add line
10 digit activity number
Sale tax account
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
Screen Shot of Journal Lines
Office of the Controller
Click Save
Click Process
Journal Number (keep this for your records)
Record Retention & Security Measures
The Department’s Responsibility:o Retain your merchant location(s) Monthly Bank Statements o Journal Number Informationo Batch Receipt from POS Terminalo Online System Report
o Do not store credit card informationo Truncate card number when applicable
Office of the Controller
Office of the Controller
Do you have any questions or concerns while creating a journal?
Feel free to contact Merchant Solutions via email or phone.
Office of the Controller
Questions?
