Monthly Reconciliation Process

Transcription

1 Monthly Reconciliation Process Login to Select Create a Transaction Envelope from Quick Links section Select Add New (assuming envelope hasn t already been started) Note if you had already started the envelope and were returning to update it, you would select search and then select the envelope that you wanted to update. If you reconcile more than one card, select the card that you are currently going to reconcile and are creating the envelope for

2 Complete the information on the next tab, including: o Enter the card holders name in the Employee Name field note it will default to the reconcilers name, o Enter Month and Year for month that is being reconciled, as well as initials of card holder being reconciled, o Select Cycle option for date selection and use the pull down to select the cycle date range that matches up to the monthly statement you are reconciling o Select Save When transactions are pulled up, select the Envelope check box at the very top, this will pull in ALL transactions for the billing cycle. Select Save and review the totals that are calculated at the top. o Make sure total matches the monthly statement and that all transactions are included. Once you have confirmed all transactions have been included, review each transaction entry and: o Update accounting string as necessary to charge to the correct areas o Add notes for all transactions i.e. for meals, include participant info, etc o If alcohol is included in a transaction (i.e. restaurant purchase with tip and taxes), it must be split out separately and charged to the alcohol account, along with 20% to cover tax and tip (i.e. for a $6 drink, $7.20 would be charged to alcohol account and the balance would be charged to the food account) All alcohol purchases require Senior Officer approval if you have an with preapproval for the purchase, please attach with receipts and indicate approval in the notes section. o Confirm you have a detailed receipt for each transaction

3 Splitting a transaction o When it s necessary to split a transaction to assign charges to multiple accounts, you need to select the split icon along the left side of the transaction you wish to split: o The following screen will come up and you select split : o In the box, indicate the number of splits or unique accountings that you want and then save:

4 You can enter either a dollar amount (left cells) or percentage of total transaction (right cells) for each accounting that you want assigned. For example, the amount $7.20 was entered in the top line in screen shot below, the system automatically calculates the remaining amount yet to be assigned in the boxes at the bottom. This amount would need to be assigned to any remaining accounts that you would like to charge. o After all information has been updated (amounts, accounts, notes, etc.) and entire transaction amount has been assigned, select save o To return to the prior screen with all the transactions within the envelope, you can select Back to Search or Transactions Management : o Complete the remainder of reconciliation for the month s envelope and save.

5 After all transactions have been reconciled, Save the envelope again and then you can Print a statement if you want to include with the receipts (not necessary unless there are alcohol purchases requiring a signature/approval by a senior officer). If all edits are done, all receipts have been included and reviewed, select Submit to Workflow o Note, this routes the envelope on to the Approver for their review and final approval no changes can be made unless the Approver rejects the envelope which will send it back to your inbox. Attach all receipts to the monthly statement and forward to your approver so they have the backup of purchases for review when approving your monthly statement. o If there are alcohol transactions included the reconciler coordinate getting the necessary signature from their senior officer. After all approvals are completed on-line, the envelope (statement with receipts) should be forwarded to the Business Office, to the attention of Ruth Lansinger, who will spot audit records and file.