APPROVING CREDIT CARD TRANSACTIONS User Guide

Transcription

1 Parnassus Financials APPROVING CREDIT CARD TRANSACTIONS User Guide Content Overview 1 Access & Transactions Form 4&5 Purchasing Card 1&2 Query Transactions 5 Travel Card 2&3 Distribution Form 6 Receipts & Notifications 3 Record Keeping 6 Overview Ithaca College employees may apply for an Ithaca College Purchasing Card or Travel Card for approved College related purchases or travel. All credit card transactions are automatically loaded into Parnassus for review and to assign the proper departmental account number and transaction description. Department Coordinators or designated departmental employees are responsible for updating assigned cardholder credit card transactions in Parnassus. Objective The Department Coordinator or designated departmental employee who is responsible for reviewing online credit card transactions and maintaining proper documentation will be able to access, review, approve and assign the proper departmental account number and transaction description utilizing Parnassus. IC Purchasing Card The Ithaca College Purchasing Card is a MasterCard credit card through JPMorgan Chase for the purchase of non-travel related goods, entertainment, and/or services (Figure 1). Purchasing Card Guidelines, Instructions, Application, and Policy Financials Services website >Accounts Payable >Purchasing Card Financial Services 14 th Floor West Tower

2 Purchasing Card Transaction Process (non-travel) Required training sessions must be completed before Parnassus access can be granted. Purchasing Card Process (Figure 1A) Cardholder uses IC Purchasing Card for approved expense Cardholder gives original receipt to Department Coordinator within 5 days of purchase Vendor charges credit card company (JPMorgan Chase) Credit card transactions are loaded into Parnassus almost daily from JPMorgan Chase Department Coordinator receives notification for designated cardholder s transactions Department Coordinator uses cardholder receipts to review & assign account number and description to transactions in Parnassus within 10 days of notification IC Travel Card The Ithaca College Travel Card is a MasterCard credit card through JPMorgan Chase for Ithaca College travel related expenses (Figure 2). Travel Card Guidelines, Instructions, Application Financial Services website >Travel Services >Travel Card > choose links in green box on right side) Travel Card Policy and Procedures Financial Services website >Travel Services (for Overview) then >Travel Policy Parnassus Financials Page 2 of 6

3 Travel Card Transaction Process Travel Card Process (Figure 2A) Cardholder uses IC Travel Card for approved travel related expenses Vendor charges credit card company (JPMorgan Chase) Credit card transactions loaded into Parnassus from JPMorgan Chase Department Coordinator receives notification for designated cardholder s transactions If charges occur in advance of travel date then Cardholder gives original receipts to Department Coordinator within 5 days of purchase and department coordinator has 5 business days from notification to update transaction in Parnassus. Must also include in Expense Report If charges occur while traveling then Cardholder submits original receipts to Department Coordinator within 10 business days after return from travel and department coordinator has up to 15 business days after traveler returns to update transactions in Parnassus Department Coordinator uses cardholder receipts to review & assign account number to transactions in Parnassus All expenses must be included in Expense Report and submitted to Department Coordinator within 10 business days of return from travel Receipts Receipts Cardholder Submits original receipts and documentation to department coordinator within timeframe described for travel and non-travel related expenses as stated in IC Purchasing Card and Travel Card Policy & Procedures Department Coordinator Uses original receipt to verify and post assigned cardholder s credit card transactions Retains original receipts and statements for 6 years as described in IC Purchasing Card and Travel Card Policy & Procedures Notification of Transactions Department Coordinator or designated departmental employee is notified Receives notification for each assigned cardholder s transactions needing approval Receives notification in Parnassus Notification Worklist Department Coordinator uses cardholder receipts to approve transaction in Parnassus Purchasing Card transactions must be updated within 10 days of notification Travel Card transactions must be updated within 5 business days of receiving notification for advance purchases and within 15 business days after traveler returns for purchases incurred while traveling Parnassus Financials Page 3 of 6

4 Access Transactions Department Coordinator or designated employee responsible for updating credit card transactions will only have access to the travel and/or purchasing credit card transactions for the assigned cardholder. Departments can designate one department coordinator to update only the travel credit card transactions, and designate a different department coordinator for only the purchasing credit card transactions Access Transactions Go to Finance Apps responsibility in Parnassus Choose Credit Card Transactions for both Purchasing and Travel card transactions (Figure 3) Transaction Form Credit Card Transaction Line (4A) Identifies cardholders card number (will only display last 4 digits) for each transaction Transaction date is actual date card was used (i.e. 03-JAN-2010) Reference number is assigned by the bank and listed in the department coordinator s notification Currency will show USD Amount is the transaction charge Approved box will show a check mark after approval process. You can review transactions with a check mark but after the overnight process runs, you cannot make any further changes. Parnassus Financials Page 4 of 6

5 Credit Card Cardholder/Transaction Information (4B) Card Program will show JPMorgan Chase PCard or TCard Program Employee Name is the name listed on the MasterCard Credit Card (format is LN, FN MI) Card Code is assigned by bank Merchant Name is the vendor s name (some vendors use different name) Distributions Button (4C) Click to go to distribution form Query Transactions To find transactions by date, cardholder, amount, etc. (Figure 5) Hit F11 which will highlight all fields you can query (or use View >Query by Example) Enter information in any highlighted field to search o Transaction Date format: 03-JAN-2010 (to search by only month or year use wildcard search, i.e. %NOV-2009, %JUN%2010 or %2010) o Amount: no dollar sign o Employee Name: LN, FN MI (use wildcard search if full name unknown, i.e. %LN% or %LN%FN %) CTRL & F11 to search F4 will cancel a search To change to a different search criteria hit F11 For all credit card transactions (this search could be very slow since it finds all transactions for those cardholders you approve) CTRL & F11 To view last record go to View >Record >Last Select Credit Card transaction to update Click anywhere on the transaction line Click Distribution button If you click the box to the left of the transaction it will automatically choose that line and go to the distribution form Parnassus Financials Page 5 of 6

6 Distribution Form (Figure 6) Approve Transaction Click in Account field Enter Account Number (DO NOT use subcode 7300) Enter information in Description field (enter concise description as this shows up in GL and is necessary for auditing purposes. Click in Status field LOV ONLY choose APPROVE Choose File, Save or File, Save & Proceed (after the overnight process runs in Parnassus, credit card transactions cannot be edited) Split Transaction Enter account number and description for the first distribution line Change Amount for first account number Go to next distribution line Enter next Amount, Account number, and Description Be sure Amounts for all lines equal the Total Amount for transaction Change Status for all lines to Approved (if Status for all lines is not changed to Approved, the transaction Approved box-4b will not show the check mark and the transaction is not completed) Choose File, Save or File, Save & Proceed (after the overnight process runs in Parnassus, credit card transactions cannot be edited) Continue verifying transactions until completed Close transaction form when finished Receipts must be attached to cardholder s monthly MasterCard statement then submitted to cardholder s supervisor for review, approval, and signature. Record Keeping Review of Monthly MasterCard Statements Cardholder receives monthly statements from JPMorgan Chase reviews transactions for accuracy on statement and gives to department coordinator within 5 days of receipt. Department Coordinator submits cardholders monthly statement with receipts and supporting documentation attached to cardholder s supervisor for signature/approval department coordinator will retain monthly statements for 6 years for auditing purposes after supervisor has approved and returned these statements to department coordinator Approver cardholder s supervisor receives statement with receipts and supporting documentation from department coordinator reviews, approves and signs (or initials) statement returns approved and signed statement to department coordinator Note: Review Ithaca College Purchasing Card and Travel Card Policy and Procedures documents for detailed information (see page 1 & 2 in this guide) Parnassus Financials Page 6 of 6