Reconciling Procurement Card Transactions Manually

Click the First icon to go to the first chunk (first set of rows). This icon is disabled when already on the first chunk.

Click the Previous icon to go back to the previous chunk. This icon is disabled when already on the first chunk.

Click the Next icon to go to the next chunk. This icon is disabled when already on the last chunk.

Click the Last icon to go to the last chunk. This icon is disabled when already on the last chunk.

Chunking Scroll Counters

Displays directly above the scroll icons to indicate how many transaction lines are available as well as which rows are currently being displayed.

Merchant

Click the linked merchant name to access the Reconcile Statement - Merchant Details page. Use this page to view the source of the purchased goods.

Click the Line Details button to access the ProCard VISA Trans Detail Reconcile Statement - Visa Transaction Details, ProCard MasterCard Trans Reconcile Statement - MasterCard Transaction Details pages, or ProCard US Bank 4.0 Trans Detail Reconcile Statement – US Bank 4.0 Transaction Details. Use these pages to view the details for the Visa or MasterCard transaction.

Click the Comments and Attachments icon to enter comments and upload attachments for the reconcile statement line. When you enter a comment or upload an attachment, the empty callout icon changes to an icon with text.

If you have selected the Receipt Required check box on the Purchasing Definition - Business Unit Options page and entered the Threshold Amount, a message displays when the Transaction Amount on the Reconcile Statement page exceeds the threshold amount. To proceed with saving the transaction, you must attach a receipt.

For information on the Receipt Required check box, see Purchasing Definition - Business Unit Options Page.

Attachment Reviewed

The Attachment Reviewed check box is available only when the Reconcile – Reviewed Attachments access rights are granted on the Procurement Card Access Rights page. The check box indicates that the attachment has been reviewed. It appears irrespective of the attachment exists or not.

For information, see Procurement Card Access Rights Page.

Click the Distribution button to access the Reconcile Statement - Account Distribution page, where you can modify the account distribution for a procurement card.

ChartField Status

Displays the status of the ChartField edits.

Description

Enter additional information about the goods purchased.

Billing Amount

Displays the amount billed on the statement line.

Prepaid Ref (prepaid reference)

Displays the prepayment voucher associated with the transaction.

Dispute Amount

If your records disagree with the billing amount, enter the amount difference. This does not mean that your organization is not liable for the purchase, but rather acts as a notation that the user reconciling this account must follow up with the merchant or procurement card supplier to settle the disputed amount. If you enter an amount, the statement line is visible on the Review Disputes - Dispute page until it has been identified as collected.

Credit Collected

Displays the status of the disputed amount. If clear, the dispute is still open. If selected, the dispute has been identified as collected or closed on the Review Disputes - Dispute page.

Physical Nature

Displays whether the purchased item is a good or service.

VAT Entity

Displays the VAT entity associated with PeopleSoft General Ledger business unit from the PeopleSoft Purchasing business unit.

Entered VAT Amount

Displays the amount of VAT included on the statement line.

VAT Calculated Amount

Displays the amount of VAT that the system calculates.

Claiming Tax Credit

Indicates whether the statement line is to be used as proof for recovery of VAT. This field is automatically selected if statements issued by the card provider are defined as approved VAT receipts for the VAT reporting country. If you select this field, no additional VAT receipt is required to enable VAT recovery and rebate amounts to be calculated. If this field is not selected, you must indicate that a separate VAT receipt is available to enable the calculation of VAT recovery and rebate amounts.

No VAT Receipt

If the Claiming Tax Credit check box is not selected, this field indicates whether a separate VAT receipt is available as proof for recovery of VAT. Select this field to indicate that no VAT receipt is available. This causes zero VAT recovery and rebate amounts to be recorded.

Click the Line VAT button to navigate to the Credit Card Transaction Line VAT page to review and possibly change the line VAT information.

Run Budget Validation on Save

Select to indicate that you want the system to initiate the Comm. Cntrl. Budget Processor (commitment control budget processor) Application Engine process (FS_BP) when you save the page. This page initiates the Comm. Cntrl. Budget Processor process but only a portion of the processing (budget validation) within that process is performed. This process validates the existing budget rows for the ChartField combinations associated with the procurement cards. This process has no budgetary impact nor does it validate remaining budget balances and finds errors in the ChartField combinations before they are found downstream in accounts payable.

After budget validation is finished, the system will change the budget status on the transactions to either Valid or Error.

Validate Budget

After you select one or more transactions click this button to initiate the Comm. Cntrl Budget Processor process. By clicking this button you initiate the Comm. Cntrl. Budget Processor process but only does a portion of the processing (budget validation) within that process is performed. This process validates the existing budget rows for the ChartField combinations associated with the procurement card. This process has no budgetary impact nor does it validate remaining budget balances.

When you click this button, the page will indicate that the process is being performed. The page will flash "processing" until the process has finished performing the budget validation for the document. After the process is finished, the system will change the budget status on the transactions to either Valid or Error.

SUT Applicable (sales and use tax applicable)

Tax method applied to the statement line. Appears by default from the Sales/Use Tax page.

Sales/Use Tax % (sales and use tax percentage)

Tax percentage that the system uses to calculate the use tax for the statement line.

Use Tax

Calculated tax amount for the statement line. Appears by default from the Sales/Use Tax page.

WO Business Unit (PeopleSoft Maintenance Management business unit)

Select the PeopleSoft Maintenance Management business unit associated with the work order you want to associate with the procurement card transaction.

Work Order ID

Select the work order you want to associate with the procurement card transaction.

Task Number

Select the task number associated with the work order.

Resource Type

Select the resource type associated with the work order. Types are: Labor, Material, and Tools.

Resource Line No.

Select the resource line number associated with the work order.

Expand All Sections

Click the expand button to scroll to and access every section on the page. You can also expand one or more sections by clicking the arrow next to the section's name.

Collapse All Sections

Click to collapse all sections displaying only the header information. If you expand one or more sections, you can click the arrow next to the section's name to collapse the section.

Physical Nature

Displays the default physical nature for transactions. Values are: Goods or Services.

Ship From Country

Displays the supplier ship from location country. In the case of transactions involving goods or freight service transactions, this determines the VAT treatment.

Ship From State

If the ship from country is defined as tracking VAT by state or province, it displays the supplier ship from location state. In the case of transactions involving goods or freight service transactions, this determines the VAT treatment.

Ship to Country

Displays the ship to location country. In the case of transactions involving goods or freight service transactions, this is used to determine the VAT treatment.

Ship to State

If the ship to country is defined as tracking VAT by state or province, it displays the ship to location state. In the case of transactions involving goods or freight service transactions, this is used to determine the VAT treatment.

Service Type

If the transaction is for a service, it displays the VAT service type of Freight or Other. The value in this field determines whether or not the special rules for freight transport within the European Union apply. The default value comes from the PeopleSoft Purchasing VAT defaulting hierarchy.

Place of Supply Driver

If the transaction is for a service, it displays the usual place of supply (such as the place where VAT is usually liable) for the service. This value helps to determine the place of supply country and the VAT treatment. Values are: Buyer's Countries, Supplier's Countries, or Where Physically Performed. The default value comes from the PeopleSoft Purchasing VAT defaulting hierarchy.

Reporting Country

Displays the country for which this VAT is to be reported. This is the VAT Entity VAT registration country and determines many of the VAT defaults.

Defaulting State

If the reporting country requires that VAT be tracked by state or province, this field displays the state within the reporting country that is used to retrieve values from the VAT Defaults table.

Supplier Registration Country and Supplier Registration ID

Displays the registration country and ID of the supplier.

Exception Type

Displays the exception granted to the VAT entity. Values are: None, Exonerated, or Suspended. This value is specified on the VAT entity registration.

Certificate ID

If applicable, displays the ID of the VAT exception certificate that may have been issued to the VAT entity.

Calculate at Gross or Net

Indicates how VAT is calculated. Values are:

Gross: The system calculates VAT before it applies any early payment discounts.

Net: The system calculates VAT after it deducts early payment discounts. If there are two percentage discounts, the system uses the larger of the two when it calculates VAT. The system does not use discount amounts, only discount percentages.

The default value comes from the VAT entity registration driver.

Recalculate at Payment

Select this check box to enable the recalculation of VAT at payment time to allow for any early payment discounts, if you are calculating VAT at gross. This causes the system to adjust the VAT amount at the time of payment if the discount has been taken. This is set on the VAT entity registration driver.

Declaration Point

Displays the declaration point for a good or service when you want VAT transaction information to be recognized for reporting purposes. Values are:

Invoice: VAT is recognized at time of invoice.

Payment: VAT is recognized at time of payment.

Delivery: VAT is recognized on delivery.

This value may be set at several levels in the VAT hierarchy: VAT entity registration, business unit options, supplier, or supplier location.

Rounding Rule

Displays the VAT rounding rule. The value comes from the VAT country, VAT entity, supplier or supplier location drivers. Values are:

Natural Round: Amounts are rounded normally (up or down) to the precision specified for the currency code. For example, for a currency defined with two decimal places, 157.4659 would round up to 157.47, but 157.4649 would round down to 157.46.

Round Down: Amounts are rounded down. For example, for a currency defined with two decimal places, 157.4699 would round down to 157.46.

Round Up: Amounts are rounded up with a rounding precision to one additional decimal place. For example, for a currency defined with two decimal places, 157.4659 would round up to 157.47, but 157.4609 would round down to 157.46.

Use Type

Determines the split between recoverable (taxable) and nonrecoverable (nontaxable) VAT.

For Canadian public sector, the use type also determines the rebate of the nonrecoverable VAT. VAT rebates are calculated based on statutory rebate rates that are established for each public service body.

The value comes from the VAT defaulting hierarchy, either from the item, item business unit, item category, supplier location, supplier, or purchasing options.

Include Freight

If selected, the system includes any freight amounts in the VAT basis by calculating VAT on the merchandise amount, plus any freight amount. This option is only available for exclusive VAT calculation. The value comes from the VAT entity registration driver.

Include Miscellaneous

If selected, the system includes any miscellaneous charge amounts in the VAT basis by calculating VAT on the merchandise amount, plus any miscellaneous charge amount. This option is only available for exclusive VAT calculation. The value comes from the VAT entity registration driver.

No VAT Receipt

If the Claiming Tax Credit check box is not selected, this field indicates whether a separate VAT receipt is available as proof for recovery of VAT. Select this field to indicate that no VAT receipt is available. This causes zero VAT recovery and rebate amounts to be recorded.

Domestic Reverse Charge Goods

Select whether to indicate that the goods on transaction lines associated with the VAT driver are domestic reverse charge goods.

Place of Supply Country

Displays the country in which the VAT is liable. An algorithm determines the default value.

Treatment

Displays the VAT treatment. Complex algorithms determine the VAT treatment. Values are:

Domestic Goods Purchase: If the ship from and ship to countries are the same, and the supplier is registered for VAT, the transaction is treated as domestic.

Domestic Service Purchase: If the buyer and seller are both located in the country where the VAT is liable, the transaction is treated as domestic

EU Goods Purchase: If the ship from and ship to countries are different, the system determines whether both countries are located within the European Union. If so, the system looks at the VAT registration for each trading partner to determine whether the transaction should be treated as an intra-European Union purchase, domestic, or outside the scope of VAT.

EU Service Purchase: If each trading partner is located and registered in different European Union countries, and the VAT on a service is liable in the buyer's country, the transaction is treated as a self-assessed European Union services purchase.

Self-Assess Goods Import: If the ship from country is different from the ship to country and either or both of the countries are located outside of the European Union, and the supplier is not registered in the ship to country, the transaction would be treated as an import. If the flag on the entry in the VAT Country table for the VAT reporting country indicates that VAT on imports should be self-assessed, the transaction is treated as a self-assess goods import, and both input and output VAT are recorded.

Self-Assess Service Import: If each trading partner is located and registered in different countries, and the VAT on a service is liable in the buyer's country, the transaction is treated as a self-assessed services import.

Zero-rated Goods Import: If the ship from country is different from the ship to country and either or both of the countries are located outside of the European Union, and the supplier is not registered in the ship to country, the transaction would be treated as an import. If the flag on the entry in the VAT Country table for the VAT reporting country indicates that only input VAT should be recorded on imports, the transaction is to be treated as a zero-rated goods import.

Outside of Scope: If the supplier is not registered for VAT, or if the VAT is liable in a country other than the VAT reporting country, the transaction is treated as outside the scope of VAT.

No VAT Processing: For transactions where the physical nature is goods, if the ship to country has not been defined as a VAT country and the VAT reporting country on the transaction is blank, no VAT information is recorded.

Within PeopleSoft detail, VAT treatment values on the transaction lines are used to apply the precise defaults applicable to the transaction lines. The treatment is determined based the rules that are applicable to the transaction.

Applicability

Displays the VAT status. Values are:

Taxable

Exempt (not subject to VAT)

Outside of Scope of VAT

Suspended

Exonerated

Not Applicable (valid only when VAT treatment is no VAT processing)

VAT Code

Displays the VAT code that defines the rate at which VAT is calculated for this line.

Tax Rate

Displays the rate at which the transaction is charged VAT.

Transaction Type

Displays the code that categorizes and classifies this transaction for VAT reporting and accounting.

Adjust Affected VAT Defaults

Click this button to have the system adjust the VAT defaults that are affected by your changes. All changes that you have made to VAT defaults on this page that affect other VAT defaults on this page are retained.

Click the i button to list the fields that are to be adjusted.

Levels

Use to specify the levels to reset when you click the Reset All VAT Defaults button. Values are:

All lower levels: Resets all VAT defaults at lower levels for this page.

This and all lower levels: Resets all VAT defaults on this page and at any lower levels of this page.

This level only: Resets all VAT defaults on this page.

Reset All VAT Defaults

Click to have the system reset the VAT defaults based on the levels value that you selected. Any changes that you have previously made to VAT defaults is lost.

Basis Amount

Displays the amount on which the VAT is calculated in the transaction currency. If VAT is being calculated at net, this amount is net of any discounts.

Calculated Amount

Displays the system calculated VAT amount in the transaction currency.

Override VAT Amount

Displays the amount of VAT stated on the credit card statement.

This is the amount transmitted by the merchant on the inbound credit card statement. This amount is compared to the system-calculated VAT amount. If the override VAT amount is outside of the calculated VAT amount, plus the VAT tolerance amounts defined on the VAT driver tables for procurement cards, an exception is noted in the field for the tax dispute amount.