Credit Card Handling Procedures
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Credit Card Handling Procedures
Establishing the Ability to Accept Electronic Credit Card Payments:
- Contact Associate Director Application Services (Lee Trant) for instructions on accepting electronic credit card payments i.e. via the web.
Establishing the Ability to Accept Credit Card Payments:
To establish the ability to accept credit card payments, departments should:
- Send a written request for authorization to the Controller (Carol Kirchner, zip 5075)
- Contact Terry Lilla, the Finance Cashier Office, for bank contact and equipment options information.
- Notify Susan Blum, Accounts Payable, that the department will be taking credit card payments and of the cost center to which monthly processing transactions will be charged.
Transmitting Credit Card Payment Receipts to the Finance Cashier and Retaining Credit Card Information
- Credit card machine transactions should be closed out via automatic closing at least once per business day.
- The credit card receipt report should be reconciled to the batch total of cash receipts.
- A copy of the credit card receipt report should be transmitted to the Finance Cashier with the daily Cash Remittance Report.
- Under no circumstances should credit card information be emailed out of the department.
- Printed receipts should show only the last 4 digits of the credit card number.
- Retain the original receipts from all transactions and any original, signed documentation in a secure location for a minimum of 7 years per university record retention guidelines.
Discontinuing the Acceptance of Credit Card Payments
To discontinue accepting credit card payments, departments should:
- Notify the Controller, the Finance Cashier Office and Accounts Payable.
- Return any leased equipment.
The Finance Cashier Office will work with the Controller in cancelling the account with the bank (otherwise monthly charges will continue to be assessed).
For additional information, see Credit Card Processing Policy.
This page maintained by dkp.
Last Review by Policy Owner: 12/28/12