Credit Card Reconciliation

Introduction

Each card transaction must be accounted for. Worldpay merchants will not need to prepare any Kuali Financial System (KFS) documents to book payment card transactions as income. All Worldpay merchants are set up with an automatic feed into the general ledger (GL). The income will flow into the account number and object code that was provided when setting up your merchant account. There may be a 1 to 3 day delay between the actual transaction and when it shows up in each system. 

Your role as a merchant is to reconcile transactions daily. 

Contact Payment Card Services at pmtcards@iu.edu or 812-855-0586 if you have any issues. 

When reconciling credit cards, you need to compare three things:

1. Transactions in the system you are using like FlexPay, Bluefin terminal, BigCommerce, or a third party vendor’s integrated system 
2. Settled Transactions in Worldpay iQ 
3. Transactions in your IU KFS General Ledger account

2. Transactions in Worldpay iQ

• Log into the iQ system (https://accessmyiq.com) 
• Click on Reconciliation on the left side menu 
• Click on Summary 
• Under Select a Hierarchy Level select Merchant  
• Under Enter a Value or click + to lookup, click the magnifying glass icon 
• Search using your Merchant Number or Merchant Name 
• Click on the red Select next to the left of your merchant account 
• Enter the date range in the date boxes (because of a delay in general ledger posting times, you may need to reconcile yesterday, or the day before yesterday), then click the Apply button
• Click the red Search button 

You’ll see authorizations and settlements. Most of the time, these numbers will match, but there could be variances due to declines, refunds, or other issues. 

Under Settlements, click the + payment method link. This will show daily transaction summaries by card brand. The deposits to your general ledger are also summarized by card brand.

For a detailed report of the transactions in Worldpay iQ, click on each card brand to get an itemized list of each transaction: 

 Itemized Transaction List for Discover 

If a transaction shows up in your system report, but not the Worldpay settlement, check the Authorizations section in Worldpay. If you find the transaction there, use the 3-dot menu to look at the Transaction Details. On the Details screen, you may notice that a transaction could be declined, flagged as a duplicate, flagged as fraud, only run as an authorization, etc. Depending on the reason, you may need to work with Payment Card Services or your customer to resolve the issue.

3. Transactions in your IU KFS General Ledger account 

• • Login to KFS using this link: https://apps.iu.edu/kfs-prd/ 
  • In the KFS search bar, type in General Ledger Balance 
  • Enter your Chart Code, Account Number, and Object Code and Sub Object Code (if applicable)
  • Click Search 
  • Click on the hyper linked dollar amount of the month you are working with 
  • This will bring up your transactions for the current month 
  • Treasury suggests clicking on the Transaction Date column header to sort transactions by date. Each ledger entry should show as an AUTOMATIC DEPOSIT XX by card brand. 

For a detailed report of the transactions in your general ledger, you can use the Credit Card Transaction Detail report from PDQ.

• Go to PDQ and Login: https://pdq.dd.iu.edu/pdq/main/ie_kfs_gl_ccard 
• Enter your Merchant Number and Dates
• Choose Excel as the Output Format
• Click Run

The report will generate an itemized list of transactions by card brand.

If Card Brand Totals Match Across All 3 Systems 

Treasury recommends merchants reconcile every individual transaction to ensure complete reconciliation.   

If Card Brand Totals Do Not Match Across All 3 Systems

Contact Payment Card Services at pmtcards@iu.edu or 812-855-0586 if you have any issues.