PCard Reconciliation | PowerSchool ERP

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Use this option to reconcile transactions in a reconciliation file. The PCard Reconciliation option must be used if employees do not enter receipts. If they do, then the PCard Entry Reconciliation option should be used instead.

The PCard Bank Reconciliation page enables you to:

Link vendors from your system with merchants in a reconciliation file.
Link PCard holders to transactions in a reconciliation file.
Identify the commodities (products or services) associated with transactions.
Update the financial information related to transactions.
Designate PCard transactions as Reconciled, Disputed, or Reviewed.

Menu Path: PCard Processing > Entry & Processing > PCard Processing > PCard Reconciliation

Page Sections

Following are descriptions of the sections in the PCard Bank Reconciliation page:

Select Records For	Specifies the file format associated with your transactions and includes checkboxes to identify the status of the records you want to list. Select a record from the Bank Layout field's drop-down list, and then select the appropriate boxes.
Search Criteria	Enables you to enter search criteria for locating transaction records associated with the format you selected.
List (untitled)	Displays the transaction records found in a search. You can process a record for reconciliation by selecting it and clicking OK. You can delete a selected record by clicking Delete. Deleting a transaction permanently removes it from your database.
PCard Bank Records	Displays data from a record selected in the List section. All fields are display only, except those that require links between either your vendors and the file's merchants or your employees and the file's purchasers. These links must be completed to reconcile a transaction.

Action Bar Items

Following are descriptions of the items on the page's Action Bar:

Reconciliation Report	Displays the PCard Reconciliation Report page for generating a report showing transactions that have been designated as Reconciled. For details, refer to PCard Reconciliation Report.
Pre-Reconciliation Report	Displays the PCard Pre-Reconciliation Report page for generating a report showing transactions that are not reconciled. For details, refer to PCard Pre-Reconciliation Report.

Updating a transaction record

Select PCard Processing > Entry & Processing > PCard Processing > PCard Reconciliation to display the PCard Bank Reconciliation page.
In the Bank Layout field, select the format that applies to your reconciliation file.
Select the following checkboxes to indicate the status of the records to include in your search: Not Cleared, Cleared, Reconciled, and Disputed. You must select at least one box.
In the Search Criteria section, enter criteria to identify the transactions to list.
Click Find to list transactions that match your criteria.
In the List section, select the record to reconcile, and then click OK.

In the PCard Bank Records section, complete the Vendor, Employee, and Commodity fields.
As needed, use the following buttons:

Vendor Link	Displays the PCard Vendor Link page for linking a vendor to the transactions.
Employee Link	Displays the PCard Employee Link page for linking an employee to the PCard and the transaction.

In the Actions section, Select one of the following radio buttons to indicate the action taken, if any: Reconciled, Disputed, Matched, and N/A.
As needed, use the following buttons:

Financial Information	Displays the Financial Information page for updating a transaction's financial distributions
PO/Encumber Link	Displays the PO/Encumber Financial Information page for updating purchase order information for a transaction associated with a purchase order.

Select the Continuous checkbox if you are reconciling more than one transaction. Otherwise, leave the box blank.
Click OK to save the record.
If the Continuous checkbox is selected, repeat Steps 7-10 to process the next transaction in the List section. When you finish, click Back to return to the List section.

Fields

Following are the fields in the PCard Bank Reconciliation page's Select Records For, Search Criteria, and PCard Bank Records sections. Descriptions are also given for the fields in the Financial Information and *PO/Encumber* Financial Information pages.

Select Records For Section

Use the following fields to select a bank format and identify the status of the transactions to search for.

Field

Description

Bank Layout

Code identifying the format associated with your reconciliation file. Select a code from the field's drop-down list. Required.

Checkboxes

Checkboxes Identifying the status of the transactions to include in your search. You can select as many boxes as needed, but you must select at least one.

Select:

Not Cleared	Transactions that have not been cleared by the card provider.
Cleared	Transactions that have been cleared by the card provider.
Reconciled	Transactions that have been reconciled with receipts.
Disputed	Transactions with unresolved discrepancies.

Search Criteria Section

Use the following fields to enter criteria defining the records you want to list. All of the fields are optional.

Field	Description
PCard Number	Number identifying the PCard used in the transaction in combination with the bank layout code. PCard records are defined in the PCard Setup option. Select a code from the drop-down list. If you leave the field blank, the system will include all PCards, depending on your entries in the Bank Layout, Transaction Date, and PCard User fields.
Transaction Date	Date when the transaction was processed. If you are searching for transactions on a specific date, enter the date. Use the colon symbol to specify a range of dates, for example, 06/01/2018:06/30/2018. Leave the field blank to access all transactions regardless of their dates.
PCard Holder	Employee ID and name of the individual responsible for the PCard transaction. Entering an employee and saving the transaction record links the employee to the PCard number and the transaction. Required.

Field

Description

PCard Number

Number identifying the PCard used in the transaction in combination with the bank layout code. PCard records are defined in the PCard Setup option.

Select a code from the drop-down list. If you leave the field blank, the system will include all PCards, depending on your entries in the Bank Layout, Transaction Date, and PCard User fields.

Transaction Date

Date when the transaction was processed. If you are searching for transactions on a specific date, enter the date. Use the colon symbol to specify a range of dates, for example, 06/01/2018:06/30/2018. Leave the field blank to access all transactions regardless of their dates.

PCard Holder

Employee ID and name of the individual responsible for the PCard transaction. Entering an employee and saving the transaction record links the employee to the PCard number and the transaction. Required.

PCard Bank Records Section

The following fields, which default data from the reconciliation file, are display only.

Field	Description
PCard Number	Number identifying the PCard used in the transaction in combination with the code displayed in the Bank Layout field. PCard records are defined in the PCard Setup option.
Bank Layout	Code identifying the format associated with your reconciliation file, as defined in the PCard Definition File option. Select a code from the field's list.
Transaction Date	Date on which the transaction was processed by your PCard provider.
Purchase Date	Date on which the transaction was made, as recorded by the vendor.
Transaction Amount	Total amount of the transaction, including sales and use taxes, if any.
Bank Transaction ID	Code identifying the transaction, as defined by your PCard provider. The code has no effect on your PCard records and appears here for information purposes only.
Sales Tax	Amount of sales tax included in the transaction amount.
Use Tax	Amount of use tax included in the transaction amount.
Description	Text describing the transaction, as it appears in the reconciliation file.
Merchant	Code identifying the merchant associated with the PCard transaction, as defined by your PCard provider.
*PO Or Encumber*	Purchase order number associated with this transaction. This field will display MULTIPLE if more than one purchase order is selected. Use the PO/Encumber Link button to display the PO/Encumber Financial Information page to select purchase order line items associated with the transaction.
Line Item	The line item associated with the purchase order. If more than one line item or purchase order is selected, this field will display Multiple. The remaining fields enable you to update the transaction. You cannot access the Purchaser field. In addition, your access to the Vendor and Employee fields depends on the transaction record in the reconciliation file.
Vendor	Code identifying the vendor associated with the transaction, as defined in Fund Accounting's Vendor List. Entering a vendor and saving the transaction links the vendor and merchant for this and future reconciliations. Required. To select a vendor, use the Vendor Link button to display the PCard Vendor Link page and select a vendor.
Purchaser	Code identifying the person who made the PCard transaction, as defined by your PCard provider. Display only.
Employee	Employee ID and name of the individual who made the PCard transaction. Entering an employee and saving the transaction record links the employee to the PCard number and the transaction. Required. To select an employee, use the Employee Link button to display the PCard Employee Link page. For details, refer to PCard Employee Link Page.
Commodity	Code identifying a product or service in Purchasing's Commodity List. If needed, use Lookup to search for and select a commodity.
Radio Buttons	The following radio buttons display at the end of the section to indicate the action taken, if any:
Reconciled	Indicates the transaction has been reconciled.
Disputed	Indicates the transaction contains one or more discrepancies that need to be resolved.
Matched	Indicates the transaction and receipt match. The system does not check if the two records contain the same data when you select this setting. However, if the transaction and receipt amounts do not match, the transaction will appear in the (untitled) Discrepancies section of the PCard Pre-Reconciliation Report.
N Or A	Indicates no action was taken. If needed, you can save the transaction and change this setting later.

Financial Information Page

Following are descriptions of the fields for entering accounting distributions in the Financial Information page. You access this page by clicking the Financial Information button.

Field	Description
*Budget Unit*	Number identifying the low organization that should be charged for the transaction, as defined in Fund Accounting’s Organization Chart. Required. If needed, you can distribute the charges among multiple budget units/accounts, as long as the total distributions equal the amount in the Transaction Amount field. As indicated by the asterisks, the title of this field is defined in the Fund Accounting Profile. As a result, the title used in your system may be different from the one in this manual.
Account	Number identifying the account in Fund Accounting where transaction amounts should be encumbered or charged for the PCard transaction.
*Project*	Number identifying the project in Fund Accounting where transaction amounts should be encumbered or charged for the PCard transaction. This field and the next only apply if you use project accounting. The asterisks before and after the field’s title indicate that the title was defined in the Fund Accounting Profile. As a result, the title in your system may be different from the one used in this manual.
Account	Number identifying the project account in Fund Accounting where transaction amounts should be encumbered or charged for the PCard transaction. Required if a project is identified in the Project field.
Amount	Amount associated with this distribution. Required. If only one distribution applies, enter the value from the Transaction Amount field. If the transaction requires multiple distributions, complete as many lines as needed, as long as the final total equals the transaction amount.
1099	Code indicating whether a 1099 form is issued to the vendor for this and other transactions. Required. The system defaults the 1099 setting from the record in Fund Accounting’s Vendor List. You may change the default if needed. Select: M - 1099-Misc - Unemployment compensation, state/local income tax, qualified state tuition earnings, taxable grants, and agriculture payments. G - 1099-G - Rents, royalties, other income, fishing boat proceeds, medical/health care payments, non-employee compensation, substitute payments, crop insurance proceeds, and attorney fees. I - 1099-Int - Interest income, early withdrawal penalty, interest on U.S. Savings Bonds and treasury obligations, investment expenses, and foreign taxes paid. N - No 1099 - 1099 form does not apply to this vendor.
Description	Brief description of the charge. Character/21
Transaction Total	Display-only total of the amounts entered in the page’s Amount fields. The system prevents you from saving your entries if the their total does not equal the value in the Transaction Total field.

PO Or Encumber Financial Information Page

To display this page, click the *PO/Encumber* Link button.

Field	Description
*PO Or Encumber*	Purchase order number associated with this transaction. This field will display MULTIPLE if more than one purchase order is selected. To update the field, use the Action Bar's Update PO/Encumber item.
Line Item	The line item associated with the purchase order. If more than one line item or purchase order is selected, this field will display Multiple.
Transaction Amount	Total of the transaction.
*PO Or Encumber*	Individual purchase order associated with the distribution.
Line Item	Individual line item for the purchase order associated with the distribution.
*Budget Unit*	Number identifying the low organization in Fund Accounting associated with the purchase order/line item.
Account	Number identifying the account in Fund Accounting associated with the purchase order/line item.
*Project*	Number identifying the project in Fund Accounting associated with the purchase order/line item.
Account	Number identifying the project account in Fund Accounting associated with the purchase order/line item.
Amount	Amount to allocate to the budget unit/account and, if used, project/account. Decimal/12,2 You can divide the transaction amount among multiple distributions. The total of all distributions must equal the transaction amount.
1099	Code indicating whether a 1099 form is issued to the vendor for this and other transactions. Required. The system defaults the 1099 setting from the record in Fund Accounting’s Vendor List. You may change the default if needed. Select: M - 1099-Misc - Unemployment compensation, state/local income tax, qualified state tuition earnings, taxable grants, and agriculture payments. G - 1099-G - Rents, royalties, other income, fishing boat proceeds, medical/health care payments, non-employee compensation, substitute payments, crop insurance proceeds, and attorney fees. I - 1099-Int - Interest income, early withdrawal penalty, interest on U.S. Savings Bonds and treasury obligations, investment expenses, and foreign taxes paid. N - No 1099 - 1099 form does not apply to this vendor.
Description	First 21 characters of the description for the line item associated with the purchase order.
Transaction Total	Display only total of the amounts entered in the PO/Encumber Financial Information page’s Amount field. The system prevents you from saving your entries if their total does not equal the value in the Transaction Amount field.