Financial Management - PSFT (MOSC)

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How to handle payment card transactions in Peoplesoft

edited Oct 16, 2013 8:31AM in Financial Management - PSFT (MOSC) 1 commentAnswered
At our company, we are trying to implement payment card transactions, where we issue a credit card number to a vendor when we place an order. The vendor will charge the credit card for payment. At the end of each month, our merchant account company will send an invoice with all of the credit card transactions. We need to reconcile the payments in Peoplesoft with the transactions on that invoice.

There will be lots of returns. And each return will generate a credit from the vendor on the merchant account's invoice. Therefore we need all payments and all credits to be separate in Peoplesoft, so they can be reconciled with the separate charges and credits on the invoice.

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