As a recipient of revenue (cash, check or Credit Card payments) you are responsible for recording these transactions to your departmental accounts and the University’s Bank accounts.
All Departments classified as direct depositors are required to enter Cash Reports directly into PRISM. Once PRISM access and security has been granted, the following instructions should be adhered to in order to ensure the proper reporting of revenue and expedite the bank reconciliation process. TO ENSURE THAT ALL REVENUE IS RECORDED IN THE MONTH IT IS RECEIVED, CASH REPORTS MUST BE INPUT THE SAME DAY OR THE DAY FOLLOWING YOUR DEPOSIT OR TRANSACTING OF CREDIT CARD PAYMENTS.
PRISM ACCESS AND SECURITY
Once a department has been approved by the Office of Finance as a direct depositor, a new responsibility will be created in PRISM by the Budget and Financial Reporting Department and will become one of the General Ledger Responsibility menu options. Account security attached to this responsibility will allow access to departmental accounts and subcodes related to the department’s cash report entries as well as the required University cash accounts – AMX, CID, GME, GPN, and PCC. Training will be provided by FIS – Financial Information Systems.
PRISM DATA ENTRY REQUIREMENTS
The PRISM General Ledger screens used for the entry of cash reports will be the same screens as those used for IDC and NSCT entries. *Complete one Cash Report for each day’s deposit. Do not combine multiple days on a Cash Report unless previously authorized to do so by the General Accounting Department. Specific field information will change based on the document type. The following are the changes required for the data entry of cash reports.
Cash batch names must follow the standard batch naming convention used for all General Ledger entries.
In order to simplify BATCH naming conventions, beginning July 1, 2017, all BATCH names related to online cash reports that apply to July business and forward (excluding those processed by the Student Payment Center) should now begin with DDCR (i.e. DDCR 00100 MAL 7-1). All Journal fields, including Journal Line Descriptions, remain the same.
When entering a cash report batch, a “1” should be placed in the BATCH CONTROL TOTAL as is the procedure for all other batch types entered into PRISM. Once the cash report batch has been successfully completed and approved, change the batch control total FROM “1” TO “2” (omit quotes). This will identify the batch as complete and will prompt the review process by General Accounting.
The department name or Regional Campus abbreviation MUST be entered in this field. Additional information may follow the department name or regional campus abbreviation. “Additional information” may include the six-digit bank location number provided by the Office of Finance. Use this “Journal Name” format for ALL cash report batches.
EXAMPLE: GEN ACCOUNTING, or
GEN ACCOUNTING 123456
The “Effective Date” MUST be changed to the deposit date related to the cash deposit for that day. DO NOT combine more than one day of cash activity or credit card activity on a single journal page, with the exception of those departments previously approved to combine cash and credit transactions on the same cash report.
If you are recording credit card activity only, you MUST change the “Effective Date” to match the date of the balancing or settlement report.
If you are recording Lock Box items, you MUST change the “Effective Date” to match the date of the advice received from the bank.
Cash Report for correction items:
When entering a cash report correction item or an omitted item pertaining to a prior month, change the “Effective Date” to the first day of the period in which you are entering the item.
EXAMPLE: If the item relates to an June 2017 deposit and you are entering it in the July 2017 period, the “Effective Date” should be changed to 01-JUL-17.
Journal Control Total
Enter the amount of the cash report. Total Debits must equal Total Credits which must equal the Journal Control Total.
Assign a unique sequential identifier (numeric or alpha-numeric combination) to each Cash Report. The information supplied in the reference field will appear on your departmental Level I Report. This unique identifier will facilitate inquiries by both your department and General Accounting.
Input the preparer’s name and phone number.
Input the authorizer’s name and phone number.
When entering the transactions related to the various University cash accounts, open the list of values box by clicking on the [∙∙∙] in the account number field. You will then be prompted to provide an “alias.” In the alias box, type the appropriate three character bank ID, (CID, PCC, etc.) as done on the paper copy of the cash report. Select “OK.” The corresponding 32-digit University cash account number will populate the field. Be sure to select the bank ID (cash account) which correctly relates to the entry.
|Bank ID||Account Type||PRISM Account Number|
|CID||University General Deposits- Citizens||02.00010.1029.00000.000000.00000.00000|
|GME||BNY Mellon Lock Box||02.00010.1001.00000.000000.00000.00000|
|GPN||University General Deposits- PNC Bank||02.00010.1044.00000.000000.00000.00000|
|PCC||Visa/MasterCard and Discover Card||02.00010.1046.00000.000000.00000.00000|
NOTE: If you are recording Sales Tax, use the alias STAX in the account field for this line item. The Sales Tax account number is: 02.03020.2000.18141.000000.00000.00000.
You must enter one debit to the appropriate cash account (one or more of the Bank IDs noted above) for each corresponding deposit slip, lockbox deposit or Credit Card balancing or settlement report for that particular deposit date or Credit Card settlement date. Your debit to the appropriate cash account (one or more of the Bank IDs noted above) must equal the amount the bank will post on the bank statement (the amount imprinted on the deposit ticket or shown on the lockbox report or Credit Card Balancing or settlement report.)
DO NOT combine multiple deposit ticket amounts in one debit amount on the Cash Report. Likewise, do not break down one bank deposit into several smaller amounts. Doing so makes it difficult, if not impossible, to reconcile the amounts recorded in the general ledger to the amount recorded in the bank statements.
Credit – Enter the dollar distributions to the appropriate Departmental Account/s. Only one amount, either debit or credit, may be entered per line item.
Enter the appropriate line descriptions relating to the revenue applied to your departmental accounts. Only the first 25 characters will appear on your Level Report. Using the following format, the description for the cash line should include the deposit Bank ID or credit card type:
7/10/2017 CID (Deposit Date followed by Bank ID)
7/10/2017 GME Lock Box
(Advice date followed by GME Lock Box. This is different from the Instructions referenced above. Each Lock Box advice MUST BE RECORDED AS A SEPARATE LINE ITEM on the cash report for the appropriate date.
(Settlement date from credit card Balancing or Settlement Report followed by credit card type, i.e. AMX for American Express and PCC for Visa/MasterCard and Discover Card)
The following are the University of Pittsburgh cash account and credit card type abbreviations:
AMX American Express - PNC Bank
AMX WEB - American - Web - PNC Bank
CID - University General Deposit - Citizens
GME - University General Deposit - BNY Mellon
GPN - University General Deposit - PNC Bank
PCC - Visa/Mastercard and Discover Card - PNC Bank
PCC WEB- Visa/Mastercard and Discover Card Web - PNC Bank
If you are entering a correction or omitted item from a previous month, use the original date of deposit, credit card settlement, or Lock Box advice in the line description, the bank ID, card type, or GME Lock Box followed by the word “Correction” if applicable. Add the word CORRECTION to the end of the BATCH name as well.
NOTE: When recording Sales Tax items, the line description must begin with the word TAX.
Pre-typing a paper cash report document prior to entry into the PRISM system is not required. However, a report printout of the batch from the PRISM system is REQUIRED and will serve as the cash report. (Refer to the PRISM training material regarding the printing of journal reports.) Preparer and approver signatures must be included on the PRISM report printout. All required support documentation such as deposit tickets, credit card balancing or settlement reports, advices etc. (as indicated in the “Cash Report Instructions” and “Instructions for Transacting Credit Card Payments”) MUST be attached to the printout of the cash (journal) report batch and maintained in a secure location for audit purposes in compliance with record retention policies and procedures.
Generate the Journals-General Report
As a recipient of revenue, you are responsible for the monthly reconciliation of your Cash Reports to your monthly Level I Report to ensure that each Cash Report has been input and properly credited to your department. An additional reconciliation for Credit Card transactions is required. Refer to the “Instructions for Transacting Credit Card Payments.”