Online Monthly Reconciliation Procedures

Syracuse University Credit Card Program
PaymentNet 4
Reviewing/Expensing & Approving Transactions

Log In

  1. Open Internet Browser.
  2. Enter the following in your address bar: www.paymentnet.jpmorgan.com
  3. Enter the following on the PaymentNet Log In Screen:
    • Organization ID: US63378
    • User ID: <enter ID>
    • Password: (You will receive via email)
    • You may select the box “Remember my Organization ID”
  4. Click Log In 
  5. The first time you log in you will be prompted to change your password
  6. The first time you log in you will be prompted to answer 5 security questions
  7. The first time you log in you will be prompted to register your machine
  8. You will then be directed to the Home Page.

*THE FIRST TIME YOU LOG IN TO “TRANSACTIONS”, YOU WILL NEED TO RUN THE FOLLOWING QUERY TO SET AS THE DEFAULT*

  1. Log in to the system
  2. From the Welcome Screen, select “Transactions” > “Manage”
  3. New Query – Select “Advanced”
  4. Date Range – Field = “Post Date”
  5. Operation = “Is Relative”
  6. Value = “Last Days” = type “45” in box
  7. Add the following “Criteria”:
  8. Field = “Exported”
  9. Operation = “Is equal to”
  10. Value = (leave box blank)
  11. Select – “Process”
  12. Select – “Save Query”
  13. Enter: Last 45 Days
  14. Click Save
  15. Click “Set as Default Query”

Reviewing/Expensing Transactions

Cardholders/Designated Preparer:

  1. From the Welcome Screen, select “Transactions” > Manage
  2. From the drop down menu, select “Last 45 Days Default”
  3. Click on a transaction
  4. Compare the transaction details (e.g., amounts) with receipts if available
  5. Review chart string allocations (default chart string will appear)
  6. Enter the appropriate account code (Only the first 100 numbers are defaulted in the system. You MUST delete “none” by back spacing or highlight and type the correct number. Once the number with the correct description appears, click on the correct number and description from the drop down box to populate the cell)
  7. Make any necessary changes to the chart string using the same method as in #6
  8. Add complete business purpose to the Transaction Notes field (not what was charged but why)
  9. Check the “Reviewed” box above
  10. If you are the approver as well, check the “Approved” box below the chart of accounts
  11. Click Save
  12. Use arrows in upper right corner to navigate to the next transaction or click on “List” above the account code box

Splitting Transactions

  1.  From the Transactions screen, click on the transaction
  2. Click, “<Add Lines>”
  3. Type the number of splits in the box > Click> “Add” The amount will be divided evenly among all rows
  4. Add complete business purpose to the Transaction Notes field (not what was charged but why)
  5. Click on the arrow above the “1” to populate the chart of accounts: 
  6. Add Account Code and any changes to that row’s chart string. Split by either percentage or dollar amount. If you are the approver, Click the “Approved” box
  7. Click on the arrow above the “2” to populate the chart of accounts: 
  8. Repeat steps 6
    • Two rows – the remaining amount will be automatically added to the second row
    • Three or more rows – any changes to the first row, whether adding to or subtracting from the amount, will be added to or subtracted from the last row’s amount
    • Deleting rows – Click Delete (Note that this will reset your split amount and remove any previous changes)
    • Canceling a split – to cancel split, click Delete on the extra rows that you want to delete.
  9. Click Save in the upper left hand corner

Approving Transactions

Approvers: If you are the reviewer and approver, this may be done at the same time.

  1. From the Welcome Screen, select “Transactions” > “Manage”
  2. From the drop down menu, make sure to select “Last 45 Days Default
  3. Click on a transaction
  4. Review the transaction chart string and notes field (business purpose)
  5. If changes are required, make the necessary changes. Click the “Approved” box and click Save
  6. If changes are not needed, click the “Approved” box
  7. Click Save
  8. Use arrows in upper right corner to navigate to the next transaction or click “List” above the account code box

NEXT STEPS TO COMPLETE RECONCILIATION

Do not print the Monthly Reconciliation Report until the statement end date has passed. (i.e., Statement date: September 3rd, do not print until September 4th) Review statement to ensure that all transactions contained on that statement have been expensed and approved. Once confirmed, follow the steps below to print the Monthly Reconciliation Report:

  1. From the Welcome Screen, select “Reports” > Create
  2. In the “Report Type” drop down menu select “Transaction”
  3. Select “Monthly Reconciliation Report”:
  4. Criteria:
    • Field = Posting Date
    • Operation = Cycle Is
    • Value = Accounting Cycle
    • Select Statement Date
  5. Process Report
  6. You will be redirected to the Reports > Downloads
  7. Click <refresh>
  8. The Monthly Reconciliation report will appear in your available reports. Once the status is “successful”, Click on the Monthly Reconciliation Report
  9. Click “Print”
  10. Attach the receipts in the order they appear on the Monthly Reconciliation Report
  11. The cardholder and cardholder’s supervisor must sign the Monthly Reconciliation Report
  12. Submit to Disbursements by the 20th of the statement month.

IMPORTANT NOTES: The current statement transactions will be downloaded to the GL holding file on the 12th of each statement month at midnight. Transactions will post to the GL upon receipt and audit approval of the reconciliation report. All transactions must be expensed and approved online by the 12th at midnight.

You will receive 2 e-mail reminders. The first will be 3-days prior to the transactions being pulled from the system. The second will be 24 hours prior to the transactions being pulled.

These notices are intended to remind you to verify that you have completed the reconciliation process.

Additional Resources
If you have additional questions, please contact:

  • Ryan Pyland, Manager, Credit Card Program, Purchasing Department, 315-443-1957 or rmpyland@syr.edu.
  • Karen DeSocio, Audit Coordinator, Disbursements Processing, 315-443-2161 or kmdesoci@syr.edu.
  • Debbie Elderbroom, Audit Coordinator, Disbursements Processing, 315-443-1853 or daelderb@syr.edu.
  • Mary Jo Alaimo, Director, Disbursements Processing, 315-443-3148 or malaimo@syr.edu