308.4 – University of North Carolina at Chapel Hill Procedure on Reconciliation, Refunds, Chargebacks and Transaction Posting

Introduction

Purpose

This procedure explains how to reconcile and post payment card transactions.

Scope of Applicability

This procedure applies to any official or administrator with responsibilities for managing university payment card transactions and those employees entrusted with handling payment cards and payment card information.

Procedure

To reconcile and post a transaction, the University department will follow the procedures below, listed in chronological order by responsible department:

University Department Functions

University departments accept payments cards through online applications and point-of-sale terminals.

Departments prepare and submit a Daily Cash Transmittal (DCT) through the Departmental Deposit System. The DCT confirms the amount of the payments receipts and provides allocation of the funds to the appropriate chart field string(s).

The Office of the University Cashier retrieves the DCT data from the Departmental Deposit System and compares it to the electronic advice, which is a previous day balances report, received via the web from SunTrust Merchant Services. The Office of the University Cashier contacts respective departments and resolves discrepancies noted between the DCT data and electronic advice.

The Office of the University Cashier certifies with the State Treasurer the payment card deposited in the University account at Wells Fargo.

Refunds

All payment card refunds must be posted to the original card used for the sales transaction. If the original card has been compromised or closed, contact the issuing bank to discuss their process for issuing refunds, chargebacks, and reversals.

Chargebacks

Chargebacks are charges disputed by the card holder. Merchants are notified through ClientLine's Dispute Manager module and American Express On-line Merchant Services (AMEX OMS), and mail. It is the department's responsibility to review and respond appropriately to the chargeback. For Mastercard, Discover, and VISA, the funds are deducted from the merchant account at the time the chargeback is initiated. If the merchant wins the chargeback, the funds are returned. American Express only deducts funds if the merchant does not win the chargeback. If funds are deducted or returned, the daily departmental deposit must be adjusted to reflect the change. These charges will not show up in the payment gateway reports or point-of-sale terminal batch settlements, but are available in ClientLine and AMEX OMS.

Related Requirements

External Regulations and Consequences

University Policies, Standards, and Procedures

Contact Information

Primary Contacts
Subject Contact Telephone E-Mail
General Questions and PCI Compliance Merchant Services 919-843-0420 certifi@unc.edu
Deposits and Reconciliation Cashier's Office 919-962-5846 deposits@unc.edu
Data Security ITS – Information Security 919-962-4357 security@unc.edu or certifi@unc.edu
TouchNet Connection TouchNet Administrator 919-445-9319 certifi@unc.edu
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Details

Article ID: 131502
Created
Thu 4/8/21 9:10 PM
Modified
Tue 8/9/22 2:43 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
09/02/2020 10:12 AM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Cash Manager
Last Review
Date on which the most recent document review was completed.
09/02/2020 10:12 AM
Last Revised
Date on which the most recent changes to this document were approved.
09/02/2020 10:12 AM
Origination
Date on which the original version of this document was first made official.
07/01/2006 12:00 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.
F&O-Finance