Ongoing Reconciliation to PeopleSoft (about once a week)

• Log into Peoplesoft.

• Pull up your Reconcile Statement which will show what the bank has so far charged for.

• Print a copy.

• Check it against your VISA log, finding each transaction on your log.

• Insure that the money matches.

• If the money doesn't match, change the log to match the Peoplesoft transaction (unless it's a lot more money than anticipated, in which case we have to figure out why before making changes). Record on your VISA log the dollar amount of any transactions that were originally recorded in another currency.

• Check mark all charges on the report that appear accurately on your VISA log. Any transactions not on your VISA log may be fraudulent or erroneous charges. If you didn't make a transaction appearing on the report, call the bank immediately and consult with your supervisor.

• Give the checked report to Alla for approval in Peoplesoft.

• Alla will return this with a printout of the report showing all of the items approved. Keep these until the end of the month until after you do the final reconciliation for the month. Then these can be recycled.

Monthly Reconciliation to the VISA Statement

• Match all items on your log and all of your carryovers to transactions on the statement. It's generally easiest to look for the dollar amount on the statement, then confirm that it's the correct vendor. As you find each transaction, check mark it on the VISA statement, then on the VISA log. Then in the "Reconciled to Bank Statement" column, fill in the date of the statement and initial it.

• Once you've found everything, total the amounts cleared on your VISA log and carryovers. It should match the total on your VISA statement. If they don't match, find and correct the problem.

Old carryover charges now charged

• Pull out and appropriately fill in the the carryover logs.

• Put the documentation in the last log of the month they were charged in.

New carryover charges

• Find any items not charged, not received, or lacking a receipt, and make a copy of each log.

• Highlight or otherwise somehow mark items still open on the log copy.

• For items not charged, pull the documentation from the folder and set it aside. If it's an incomplete order, you'll need to keep all of the documentation in the original log except the P.O.'s for the items not charged that period. _Note that all documentation should end up in a log for the statement period it was ordered.

• Maintain records of all items not charge, not received, or both, in an open file.

• Diligently correspond with vendors in order to complete transactions on a timely basis. Pay special attention to items charged but not recieved, and be sure to report these on a timely basis as there is short time limit on challenging charges.

Preparing for review

• Sign and date the bank statement and sign and date the VISA logs.

• Make a copy of your VISA statement for each folder that has a charge on it and insert the copies in each log.

• Stack all logs for the current statement period and all logs with carryover charges now charged.

• Let Alla know that the reconcilation is ready.

• Alla will come and get the reconciliation when she is ready to do it.

After review

• Check the first copy of the VISA statement in the log for the month for a supervisor's signature on the bank statement and for the printed copy of the PS report.

• Insure that the amounts on the bank statement and PS report match.

• Insure that the reconciled logs are signed by all required parties.