Reconciliation

OBFS automatically posts the aggregated totals of payment card transactions processed by the payment card acquirer to the Banner general ledger (GL) on a daily basis. Each merchant’s ID associated terminal ID posts transactions to a single Banner CFOAPAL.

Each unit is responsible to reconcile its internal sales records to the amounts posted to Banner. Units that utilize the centralized online payment system also have their aggregate transaction totals posted to the Banner GL on a daily basis. Since a single Merchant ID is used for the centralized online payment system and multiple CFOAPALs can be used in a single transaction, the posting rules are slightly different than described above. A unit can utilize as many CFOAPALs as needed per payment for its processing requirements.

Transactions done with Visa or MasterCard branded cards are combined together when posting to a CFOAPAL. American Express and Discover branded activity is posted separately. Not all CFOAPALs can be used to record payment card revenue. All CFOAPALs must be verified by University Accounting and Financial Reporting (UAFR) before being used (ie, self supporting funds).

Additional Resources

• Financial Reporting (PDF)
   

If you have questions, please contact us and visit our Training Resources.

Last Updated: May 3, 2010