Credit Card Processing: Difference between revisions
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<big>Credit Card Processing Policy</big> | '''<big>Credit Card Processing Policy</big>''' | ||
== Basis for Policy == | == Basis for Policy == | ||
It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of credit card transactions to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets. Further, it is the policy of UNMC to comply with all [http://www.nebraskalegislature.gov/laws/laws.php state regulations] and the Payment Card Industry Data Security Standards (PCI/DSS). | It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of credit card transactions to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets. Further, it is the policy of UNMC to comply with all [http://www.nebraskalegislature.gov/laws/laws.php state regulations] and the Payment Card Industry Data Security Standards (PCI/DSS). | ||
== Authority Over Credit Card Transactions == | == Authority Over Credit Card Transactions == | ||
It is the policy of the University of Nebraska Medical Center that all credit card transactions on the UNMC campus will be under the control of the Controller. Web based credit card transactions must utilize the standard UNMC application. | It is the policy of the University of Nebraska Medical Center that all credit card transactions on the UNMC campus will be under the control of the Controller. Web based credit card transactions must utilize the standard UNMC application. | ||
== Credit Card Reporting == | == Credit Card Reporting == | ||
Credit card collections received by departments for UNMC will be submitted along with cash/check collections and a Cash Remittance Report to the [http://app1.unmc.edu/bus&fin/index.cfm?L2_ID=6&L1_ID=4&L3_ID=26&CONREF=25 Finance Cashier]. | |||
Credit card collections received by departments for UNMC will be submitted along with cash/check collections and a Cash Remittance Report | |||
== Internal Controls == | == Internal Controls == | ||
Departments are required to establish the following internal controls over credit card transactions: | Departments are required to establish the following internal controls over credit card transactions: | ||
*Departments will maintain written detailed internal procedures describing the proper handling of credit card transactions. | |||
* Departments will maintain written detailed internal procedures describing the proper handling of credit card transactions. | *Under no circumstances should credit card information be entered and stored on any computer database. UNMC has made the decision to outsource the credit card processing. UNMC ITS Application Services has a module which is utilized to bridge the web application which requires a credit card payment and the credit card processing company. | ||
* Under no circumstances should credit card information be entered and stored on any computer database. UNMC has made the decision to outsource the credit card processing. UNMC ITS Application Services has a module which is utilized to bridge the web application which requires a credit card payment and the credit card processing company. | |||
== Auditing Cash Funds == | == Auditing Cash Funds == | ||
All credit card transactions will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental credit card procedures will be reviewed for conformity with UNMC policies and | All credit card transactions will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental credit card procedures will be reviewed for conformity with UNMC policies, State Treasurer regulations, and Payment Card Industry Data Security Standards. | ||
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For more detailed information, see the [[Credit Card Handling Procedures]] or contact the [mailto:ckirchner@unmc.edu Controller]. | For more detailed information, see the [[Credit Card Handling Procedures]] or contact the [mailto:ckirchner@unmc.edu Controller]. | ||
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This page maintained by [mailto:dpanowic@unmc.edu dkp]. | This page maintained by [mailto:dpanowic@unmc.edu dkp]. | ||
Revision as of 14:22, December 27, 2012
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POLICY NO: 6050
EFFECTIVE DATE: 01/10/07
REVISED DATE: 01/08/09
REVIEWED DATE: 01/07/09
Credit Card Processing Policy
Basis for Policy
It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of credit card transactions to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets. Further, it is the policy of UNMC to comply with all state regulations and the Payment Card Industry Data Security Standards (PCI/DSS).
Authority Over Credit Card Transactions
It is the policy of the University of Nebraska Medical Center that all credit card transactions on the UNMC campus will be under the control of the Controller. Web based credit card transactions must utilize the standard UNMC application.
Credit Card Reporting
Credit card collections received by departments for UNMC will be submitted along with cash/check collections and a Cash Remittance Report to the Finance Cashier.
Internal Controls
Departments are required to establish the following internal controls over credit card transactions:
- Departments will maintain written detailed internal procedures describing the proper handling of credit card transactions.
- Under no circumstances should credit card information be entered and stored on any computer database. UNMC has made the decision to outsource the credit card processing. UNMC ITS Application Services has a module which is utilized to bridge the web application which requires a credit card payment and the credit card processing company.
Auditing Cash Funds
All credit card transactions will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental credit card procedures will be reviewed for conformity with UNMC policies, State Treasurer regulations, and Payment Card Industry Data Security Standards.
For more detailed information, see the Credit Card Handling Procedures or contact the Controller.
This page maintained by dkp.