REPORTER Reconciliation

Table of Contents:

Reconciliation - Business Unit

Revenue - Daily/Weekly

Invalid Order Numbers - Daily/Weekly

Orders Not Paid - Aging Analysis - weekly/monthly

Discounts Analysis

Affiliate/Group  Registrations Payments

Reporting - weekly/monthly

Reconciliation - AOE Business Office

Orphan Transactions

Chargebacks, Disputes & Other Reversals

Reconciliation - Business Unit

• Revenue - Daily/Weekly

• All credit and debit card terminals and web applications are closed out on a daily basis and reconciled on a daily basis.  The REPORTER POS Terminal is closed out daily at the end of the day.
• Business Officer/Account Technician reconciles all transaction receipts and REPORTER payment postings, both processed and payment requests to ensure they are accounted for in the financial system and correctly posted in REPORTER
• Reconciliation to PS Financials and REPORTER is completed on a daily/weekly basis by the Account Technician
• Account Technician runs WRS for the current month activity, downloads revenue transactions, and sorts transactions that have not yet been reconciled
• Account Technician runs the REPORTER Transaction Details Financial Report, downloads to Excel, and sorts transactions that have not been reconciled
• Reconcile PS Financials receipts to REPORTER  transactions and compare completed transactions
• After all the transactions have been printed and reconciled, go to REPORTER to post those transactions that have not posted in REPORTER (such as a check deposited but REPORTER order not updated with the payment.
• Online credit card payments are auto-updated in REPORTER, matching payments to orders via order number and posting the Nelnet confirmation number and date paid to the REPORTER registration transaction.
• Review monthly reports and supporting documents to ensure that all transactions are valid and posted
• REPORTER feeds to PeopleSoft Financials data fields. Details on the order’s receipts may be obtained in the REPORTER application.

• HDRDESC (30 Characters) - REPORTER
  REF (10 Characters) - REPORTER Order#
  LINEDESC (30 Characters) - REPORTER CourseID:InstanceID
• Example: RC04192016REPORTER 100000062 IES-OIT-478:000001

• Example PeopleSoft Financials Transactions:
• Credit Card Deposit Journal Voucher (CCJV):
• dr.  994005  11100                             (cash)
  cr.  994005  40131                              (REPORTER Transaction)
  
• REPORTER Credit Journal Voucher (RCJV):
• dr.  994005  40131                             (offset)
  cr.  303701  40131                              (REPORTER Transaction)
  
• Indirect Cash Entry (ICE) - to move the cash to the business unit once reconciled:
• dr.  303701  11100                             (cash)
  cr.  994005  11100                              (offset)
• Note:  For a refund the entry should be a reverse of the above.
• The journal source that will be used is I60.  The journal will require an Indirect Cash Entry (ICE), automated cash entry associated with the source, entered by the Controller's Office.

• Invalid Order Numbers - Daily/Weekly

• This section has two areas for the business units to reconcile issues from transactions processed through Nelnet.  Sometimes Nelnet may return an invalid order number for a payment during the Nelnet payment process.
• Invalid Order Numbers:  Reconcile any payments where Nelnet returns an invalid order number during the payment process.  Follow instructions in the NelNet Correction section of this manual
• Overpaid Orders:  Review overpaid orders and contact the AOE Business Office for reconciliation

• Orders Not Paid - Aging Analysis - weekly/monthly

• Collections for orders not paid are the responsibility of the Department business unit
• Until an Aging Report is developed in this application, business units should run the Orders Not Paid report.  This report can be found in the Finance Tab and the Finance Reports
• Navigation: Finance Tab > Orders Not Paid
• Download the report to Excel and sort by date
• Address all orders that have not been paid for more than 30 days if you have not set up your payment policy as recommended in the cancellation policies section of this manual.

• Discounts Analysis

• Units should run the Discounts Report and review respective orders to determine if 1) discounts are being used and their impact on the net profit/loss of the activity(s); and 2) REPORTER is properly calculating and applying discounts.

• Affiliate/Group  Registrations Payments

• Review Administrative Payments (group/proxy registration payments) to determine if payments have been applied correctly to each order and participant.

• Reporting - weekly/monthly

• See the “Financial Reports” section of this manual.  Reports should be run weekly and monthly, depending upon reporting requirements.  
• Ensure that department leadership and staff receive timely and up to date reports on REPORTER activity:

• The business unit Registration Coordinator reviews and provides clarification of financial information with Account Technician
• The Registration Coordinator should also review payments and refunds and have access to reviews REPORTER financial reports.  
• The Course Liaison and Program Liaison also have view access to the REPORTER financial reports and should coordinate with the Account Technician if they have questions.
• Department Head/Program Director should receive monthly activity reports

• Reconciliation - AOE Business Office

• AOE manages the REPORTER Revenue Clearing Account (994005) for all non-credit registration revenue. This will include all unidentified checks for registrations and credit card receipts. Periodically, the revenues will be moved to the appropriate projects throughout campus (or active campus REPORTER clients). REPORTER only uses a single merchant ID for credit card transactions.

• Example PeopleSoft Financials Transactions:

• Credit Card Deposit Journal Voucher (CCJV):
• dr.  994005  11100                             (cash)
  cr.  994005  40131                              (REPORTER Transaction)
  
• REPORTER Credit Journal Voucher (RCJV):
• dr.  994005  40131                             (offset)
  cr.  303701  40131                              (REPORTER Transaction)
• Indirect Cash Entry (ICE) - to move the cash to the business unit once reconciled:
• dr.  303701  11100                             (cash)
  cr.  994005  11100                              (offset)
• Note:  For a refund the entry should be a reverse of the above.
• The journal source that will be used is I60.  The journal will require an Indirect Cash Entry (ICE), automated cash entry associated with the source, entered by the Controller's Office.

• For Nelnet transactions, AOE will reconcile orphan and similar error types of transactions as well as refunds on a daily/weekly basis

• Reconcile Nelnet’s report to WRS for refunds, orphaned and other similar type transactions
• Review transactions to determine discrepancy and correct errors
• Review monthly reports and supporting documents to ensure that all transactions are valid
• The Controller’s Office will electronically upload REPORTER transactions where receipts have cleared the bank, posting the Bank Cleared (yes or no) and Bank Financial Reference number

• Orphan Transactions

• Business units must reconcile orphan transactions, running the REPORTER Invalid Orders Numbers and Overpayment Orders Reports and reconciling and correcting in the REPORTER system.  
• AOE Business Office will monitor these transactions to ensure the business units are aware that these transactions are outstanding and require reconciliation.  In the case of overpayments, AOE Business Office advise the business unit if action has not been taken within a reasonable time period.
• Examples of orphan transactions:

• Nelnet Order # does not match REPORTER Order #
• Nelnet Amount is greater than REPORTER Amount for Order #
• Nelnet to REPORTER Order #s match but the amount in REPORTER has been already been marked paid
• Nelnet connection back to REPORTER is broken and transaction paid is not updated in REPORTER

• Chargebacks, Disputes & Other Reversals

• AOE Business Office will coordinate with the Business Unit (point of sale staff) on chargebacks and responses to credit card companies
• Merchants are notified through the University Controller’s Office, via email or by interoffice mail. AOE Business Office will be contacted to review and respond appropriately to the chargeback.
• A chargeback is the reversal of a prior transfer of funds from a consumer's credit card used as payment for a registration(s) for the following reasons:

• Processing Errors
• Authorization Issue
• Credit was not processed when the customer expected it would be
• Disputes: Service was not performed or performed as expected or merchandise ordered was never received
• Fraud: The customer did not make the purchase; it was fraudulent

• Processing Chargebacks and Card Issuer Copy Requests:

• Provide credit card company with information about the transaction and actions taken
• Written response must be provided within the prescribed days (mail or fax)
• Provide transaction details:

• Order Creator (if different from Participant Name)
• Participant Name
• Transaction Amount
• Authorization code (Nelnet Transaction ID)
• REPORTER Business Services contact information
• Business Unit contact information
• Itemized charges (order and receipt summary)

• AOE Business Office will communicate the disposition of the chargeback to the Business Unit:

• Chargeback is Valid

• Credit Processed on Disputed Transactions: If the refund (credit) has been processed to the cardholder’s account on one or all of the disputed transactions, send evidence of the refund(s)
• Credit Not Processed on Disputed Transactions: If refund (credit) has not yet been processed on the disputed transaction, accept the chargeback. Do not process a refund; the chargeback has already performed this function

• Chargeback is Invalid

• Typically credit card companies manage this process automatically to repost the payment
• Ensure transaction is posted and reconciled as payment

• For Mastercard and VISA, the funds are deducted from the merchant’s account at the time the chargeback is initiated. If the chargeback is invalid, the funds are returned
• American Express and Discover only deducts funds if the chargeback is valid
• Associated chargeback fees will be distributed to the respective business unit

• Customer Refunds Questions

• If the original card has been compromised or closed, the issuing bank will issue refunds, chargebacks and reversals to the new card/account.
• If the account is closed without a new card being assigned, then the issuing bank will mail a check for the refunded amount. The cardholder should contact their issuing bank if they have not received their refund with in three to five business days.
  

• AOE manages the REPORTER Merchant Fees Clearing Account (385756). Merchant fees/banking fees are billed separately and will be charged to campus departments, a 3% flat rate per transaction,  to cover the cost of electronic payment process.  

• This clearing account will be managed by AOE for incoming transaction maintenance and other related fees and charges associated with REPORTER activities.  
• Fees will be assessed on a monthly basis and journal vouchers prepared to charge applicable business units for the month’s activities.